COVID-19: CBSA Business Resource Guide

The Paycheck Protection Program (PPP) provides 100% federally guaranteed loans that can be forgiven if borrowers maintain or restore their payroll during this emergency.

Check eligibility, calculate borrowing limits, and apply using this Small Business Guide & Checklist prepared by the U.S. Chamber of Commerce.

Update: On April 23, Congress passed an interim relief package, which includes an additional $320 billion to replenish funds for the Paycheck Protection Program. $60 billion of that funding is reserved for smaller businesses without existing banking relationships.

SBA Disaster Loans for Small Businesses
Through the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program, eligible small businesses and nonprofits can receive loans up to $2 million, with interest rates no higher than 3.75%. You can find more information about the SBA Disaster Lending Program, including eligibility and application information here.

As part of EIDL, you can also access a loan advance of up to $10,000 within 3 days of your application being accepted. This advance will act as a grant and does not need to be repaid.

Check out the U.S. Chamber of Commerce Guide to SBA’s Economic Injury Disaster Loan Program.

Update: On April 23, Congress passed an interim relief package, which includes an additional $60 billion set aside for the SBA’s Economic Injury Disaster Loan program.

We continue to add more funding opportunities specific to your region as cities create their own support programs.

Denver Relief Package: The city created an initial relief fund of $4 million to support small businesses during this time. You can find more information about the program here. You can start the application process by completing a screening questionnaire here.

Telluride Regional Loan Fund: This fund is designed to work with entrepreneurs to obtain financing through low-interest loans.

Region 10 Small Business Impact Loans: These loans provide up to $10,000 for small businesses at a reduced interest rate of 4%.

More:

• Aurora Economic Relief Loan & Grant Program
• Brighton COVID-19 Relief Fund
• Boulder Small Business Relief Fund
• City and County of Denver Small Business Emergency Relief Program
• COVID-19 Response Fund Boulder County
• Wheat Ridge Small Business Stabilization Program

KIVA 0% Interest Loans: KIVA, a nonprofit organization, provides 0% interest loans to small businesses worldwide. They are expanding eligibility and the amount of loans provided during this crisis.

Facebook Small Business Grants: Facebook announced a $100 million program to help small businesses as governments throughout the country urge gyms and restaurants to close their doors to slow the coronavirus pandemic.

El Pomar Assistance Fund: El Pomar Foundation announced the establishment of the Colorado Assistance Fund, a $1 million fund offering immediate aid to nonprofit organizations supporting Colorado communities, organizations and individuals affected by the recent outbreak of COVID-19.

The Work-Share Program gives you an alternative to laying off your employees by allowing you to let your employees keep working, but with fewer hours. While they are working fewer hours, CDLE pays them part of their regular unemployment benefits.

You figure out how many hours you can continue to pay. Your employees share those hours as part of the work-share plan. All your employees can be in the Work-Share Program, or employees from a certain unit can be in the Program. It depends on your needs of your employees.

Talk to your local workforce development center to be guided through the process.

Your local workforce development center offers workforce services related to restructuring and/or downsizing your business. Services include but are not limited to, consultation on layoff aversion strategies, onsite workshops for employees in transition, job placement assistance, and information on unemployment benefits.

If you work for an employer that closed or reduced your hours to help stop the spread of COVID-19, you can file or reopen an unemployment claim through the Colorado Department of Labor and Employment.

Review CDLE’s comprehensive FAQ document to get answers to the most common questions and issues when filing for unemployment.

This hotline is available Monday through Friday from 8:00 a.m. to 5:00 p.m. You can also email the Small Business Navigator team.
Hotline: (303) 860-5881 Email: oedit_sbnavigator@state.co.us

Talk with trained consultants across the state to understand your COVID-19 resources and how to apply them to your small business. Find and contact your local Small Business Development Center here.

SBDC COVID-19 Small Business Response Resource Guide

Amended Stay at Home Order for the State of Colorado (4/6/20)

Public Health Order 20-24 – Implementing Statewide Stay-at-Home Requirements

In addition to the Governor’s statewide stay-at-home order, many counties and cities have issued their own public health orders related to COVID-19. Links to local stay-at-home orders are below. You can also find the complete list of county public health orders here.

• Archuleta County
• City and County of Denver
• City and County of Broomfield
• City of Boulder
• Denver County
• Eagle County
• La Plata County
• Larimer County
• Pitkin County
• San Miguel County

On March 18, the President signed into law the Families First Coronavirus Response Act. The bill includes important changes related to emergency paid sick leave and emergency family and medical leave expansion. Learn more about the new requirements for certain employers and the tax credits that are available here.

Colorado Department of Labor and Employment (CDLE) issues Colorado Health Emergency Leave with Pay (“Colorado HELP”) rules. Find out more.