Helping businesses statewide respond to the current health crisis

COVID-19 Small Business Response Resources

Southwest Colorado SBDC is available to answer your questions and concerns about the impacts of COVID-19 and the resources that may be able to help – including SBA low-interest loans and others. In an effort to help reduce the rate of COVID-19 transmission and in order to protect you and our staff and partners, Southwest Colorado SBDC will be working remotely. We will email or call to respond to your Request for Assistance; we will conduct phone and online consulting meetings – by appointment as always; we will hold workshops and special programming online. More information to come.

Stay posted and be well!

Resources for Colorado Small Businesses

COVID-19 Small Business Response Resource 

The Colorado Small Business Development Center Network (SBDC) is here to help businesses affected by recent disasters in Colorado, including how to respond to the current health crisis. Our consultants and partners—including the U.S. Small Business Administration (SBA)— provide services to assist with disaster loan applications, longterm planning, insurance navigation, physical and economic loss estimations, business preparedness and more. Please note, the SBDC is not a health organization; for latest news regarding the current health situation, please contact the resources listed in this guide.

Business Resources

  • The Colorado SBDC Network and the Governor’s Office of Economic Development & International Trade (OEDIT) are working to unlock those loans for Colorado small businesses. Bear with us! We will advise as soon as we know that loans are available. When this happens, we will assist you with the process and how to apply.
  • The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses that maintain their payroll during this emergency. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. The Federal Government is working diligently on developing the application process for these loans and we will let individuals know that information when it is released and applications are open.

  • Small businesses across the country are confronting extreme economic challenges as a result of the COVID-19 pandemic. Financial support at this critical time can make the difference between staying in business or closing permanently, leading to lost income, jobs and economic stability. Thanks to a $2.5 million investment from Verizon, we are offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available. LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital. Applications for the 1st round of grants must be completed by April 4th, 11:59 PM ET.  We will continue to accept applications for the 2nd round.

  • The Colorado COVID Relief Fund’s purpose is to raise and coordinate allocation of funds based on prevention, impact and recovery needs of community-based organizations in Colorado. This Fund is organized to ensure that the most acute community needs across the state are being addressed and that community voice is reflected in all funding decisions made over time. Through this Fund, eligible community-based organizations across Colorado may receive a general operating grant of up to $25,000. 

  • USDA Rural Development has taken a number of immediate actions to help rural residents, businesses, and communities affected by the COVID-19 outbreak. Rural Development will keep our customers, partners, and stakeholders continuously updated as more actions are taken to better serve rural America. Please bookmark this page and check back regularly as circumstances are changing daily and the width and depth of our responses to your questions and concerns will certainly increase.

Southwest Colorado Resources

  • The Colorado SBDC Network and the Governor’s Office of Economic Development & International Trade (OEDIT) are working to unlock those loans for Colorado small businesses. Bear with us! We will advise as soon as we know that loans are available. When this happens, we will assist you with the process and how to apply.
  • The Colorado COVID Relief Fund’s purpose is to raise and coordinate allocation of funds based on prevention, impact and recovery needs of community-based organizations in Colorado. This Fund is organized to ensure that the most acute community needs across the state are being addressed and that community voice is reflected in all funding decisions made over time. Through this Fund, eligible community-based organizations across Colorado may receive a general operating grant of up to $25,000. 

  • USDA Rural Development has taken a number of immediate actions to help rural residents, businesses, and communities affected by the COVID-19 outbreak. Rural Development will keep our customers, partners, and stakeholders continuously updated as more actions are taken to better serve rural America. Please bookmark this page and check back regularly as circumstances are changing daily and the width and depth of our responses to your questions and concerns will certainly increase.

  • The Region 9 Disaster Assistance Loan Program is designed to help those that are currently in business and who have a plan to continue their business operations after the COVID-19 crisis. As part of the application process we would like to request a Job Development Statement, a Personal Financial Statement, 2019 Year end Profit & Loss Statement and Balance Sheet (or tax return if completed) and a written narrative describing how the funds will help support your business during the coming months. Contact Brian Rose at brian@scan.org or Jenny Stollar at jenny@scan.org for more information and the application.
  • CERF (Community Emergency Relief Fund) is designated for broad-based community emergencies in Southwest Colorado. Donations to CERF are designated for emergency use and distribution of funds is determined by an advisory committee of local stakeholders. Donations are now being accepted to deploy funds to community-based organizations directly responding to the most vulnerable members of our community. These resources will be disbursed as needed and as available. Phase 1 = $50,000 of grants generated by March 31. Phase 2 = additional funding allocated in April.

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