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 Resource Playbook

This Playbook is a collection of resources that have been previously published in various forms to the general and regional business community. We recognize that this situation is fluid and that businesses are getting overwhelmed with data and links to more websites from various organizations who are all trying to assist and disseminate information. With this in mind, The La Plata County Economic Recovery Task Force has curated the best resources that are centric to businesses and divided them into a few high-level categories to help navigate the existing programs. 

We are proud to be part of the La Plata County Economic Recovery Task Force. This is made up of all of the economic development organizations, local agencies, and representation from all of the public entities in La Plata County. Please reach out to us if we can be of assistance. 

Small Business Webinars

The Colorado SBDC Networking is regularly hosting webinars to guide you through the COVID-19 emergency response and preparedness.

Access to Capital

Many organizations have been working to create and provide access to disaster capital for businesses impacted by COVID-19. This is by no means a comprehensive list. We will strive to continuously update this section with reliable sources of disaster capital. We recommend reviewing all eligibility requirements and capital criteria in order to make the best decision for your business.

Federal Relief Funding

The Coronavirus Aid, Relief, and Economic Security Act was passed March 27th. This $2.2 trillion package will provide additional help for businesses, workers, and the health care system. The Federal government is still working on a final application process. Read more about the CARES Act.

Colorado businesses can now apply for SBA Economic Injury Disaster Loan and SBA Economic Injury Disaster Grant. These programs are rolled into a single application. For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 or email disastercustomerservices@sba.gov.

Express Bridge Loan (EBL) Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. Connect directly with your local lender to apply.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, is designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an employee retention tax credit (Employee Retention Credit).

The Families First Coronavirus Relief Act (FFCRA) requires certain employers to pay sick or family leave wages to employees who are unable to work or telework due to certain circumstances related to COVID-19. Employers are entitled to a refundable tax credit for the required leave paid, up to specified limits. [See FAQs]. The same wages cannot be counted for both credits.

The SBA will automatically pay the principal, interest, and fees of current 7(a) loans for a period of six months.

The SBA will also automatically pay the principal, interest, and fees of new 7(a) loans issued prior to September 27, 2020.

Check with your lender for other inquiries on the program

Loans

  • The nonprofit organization Kiva provides 0% interest loans to small businesses worldwide. They are expanding eligibility and the amount of loans provided during this crisis.

Grants

Colorado businesses can now apply for SBA Economic Injury Disaster Loan and SBA Economic Injury Disaster Grant. These programs are rolled into a single application. For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 or email disastercustomerservices@sba.gov.

Help Colorado Now has raised $7.7 million dollars from nearly 4,000 individuals, foundations, and companies.

The COVID-19 CO Creatives Relief Grant is a one-time payment to non-profit arts organizations in Colorado.

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

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.

JPMorgan Chase announced a $50 million global philanthropic commitment to address the immediate public health and long-term economic challenges from the COVID-19 global pandemic. $8 million to assist small businesses vulnerable to significant economic hardships in the U.S., China and Europe.

Philanthropy Colorado has been working to connect funders across the state and ensure the sector has the most up-to-date information about nonprofit needs, relief funds and resources. 

SheaMoisture is offering a $1M relief fund for businesses owned by women of color.

Spanx is offering $5M in grants to female entrepreneurs.

The Distance Learning and Telemedicine program helps rural communities use the unique capabilities of telecommunications to connect to each other and to the world, overcoming the effects of remoteness and low population density. For example, this program can link teachers and medical service providers in one area to students and patients in another. All upcoming events will be posted on the events program tab.

Verizon will launch multiple rounds of an available COVID-19 Relief Grant.

Additional Resources