Resources for Business Owners - COVID-19
The resources below provide state and federal COVID-19 announcements, programs, and information relevant to Colorado businesses.
Energize Colorado - New Grant Coming for Small Businesses
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. The application will go live in early August but be sure to sign up now to receive updates about the Gap Fund.
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 Forgivable Loans: provides small businesses with forgivable loans to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Applications open April 3
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.
Work-Share Program: Provides an alternative to laying off employees by allowing them to keep working, but with fewer hours. While an employee is working fewer hours, he or she may be eligible to collect part of his or her regular unemployment benefits.
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.