Resources for Business Owners - COVID-19
The resources below provide state and federal COVID-19 announcements, programs, and information relevant to Colorado businesses.
Weld County Recovery Program - Are you looking for additional funding to help your business recover from the health crisis? The Weld County Business Recovery Program is accepting Round 2 applications through November 15, 2020. Weld County and participating communities provided funding for this local grant program to support businesses demonstrating financial stress or disrupted operations. If you own a business with 1-100+ employees, you are still eligible to receive a grant of up to $25,000. Businesses are encouraged to submit their eligible expenses related to COVID-19 or have demonstrated lost revenue due to the pandemic. The goal is to assist businesses in reopening or modifying their business plans or facilities to serve customers safely. Learn more and apply today!
Energize Colorado - Attention small businesses! The Energize Colorado Gap Fund will provide more than $25M in small business loans and grants to boost small business enterprises that are the economic engines throughout the state. Sole proprietors, businesses and nonprofits with less than 25 full-time employees can apply for up to a $15,000 grant and a $20,000 loan for a possible combined total of $35,000 in financial assistance.
Restaurants: Founded in 1933, the Colorado Restaurant Association (CRA) is the leading trade organization for the state’s dynamic foodservice industry. The CRA has a frequently updated list of resources -- including quick links, operational and legal guidance, compliance information and past member emails that relate to COVID-19. Reach out by emailing CRA or calling 303-830-2972. Opt-in to the email list here for regular updates.
Paycheck Protection Program Loans: The Small Business Association has reopened the Paycheck Protection Program loan application for first time applicants. Beginning today, January 13, 2021, Second Draw applications will also be accepted for the SBA Paycheck Protection Program. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
To apply for the second draw, businesses must have previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses, have no more than 300 employees, and demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. View the application and find a lending partner.
Economic Injury Disaster Loans for Small Businesses: Colorado small businesses throughout all 64 counties and on all tribal lands may seek up to $2M. Apply through SBA. Colorado SBDC has developed a comprehensive guide about this loan to answer most questions.
SBA Express Bridge Loan: This loan allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork and a faster timeline.
Alternatives To Layoffs: Thinking of laying off employees? There are other options to consider and assistance that can be provided to employers to avoid having to layoff employees.
Pandemic Unemployment Assistance: Approved by the federal government, this is assistance for Gig-workers, self-employed and independent contractors to collect unemployment benefits. If you are unemployed and in the last 18 months were self-employed and responsible to pay taxes on your income, you can file for expanded unemployment benefits called Pandemic Unemployment Assistance.