November 2020

Keep Up with COVID-19 Business Information

blog, Disaster Mitigation, Economic Recovery / By saraeknudsen

The bill SB20B-001 provides $57 million in direct aid, grants, and annual fee waivers to struggling small businesses and also creates grant programs and allocates funds specifically for art and cultural organizations as well as minority-owned businesses. Keep informed about funding programs at the Colorado Office of Economic Development & International Trade (OEDIT) (https://oedit.colorado.gov). You may wish to read the bill details at COVID-19 Relief Small And Minority Businesses Arts Organizations | Colorado General Assembly (https://leg.colorado.gov/bills/sb20b-001)

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For the latest COVID-19 assistance from the U.S. Small Business Administration (SBA):

Paycheck Protection Program, rounds 1 and 2, information and resource page: www.sba.gov/ppp
If you can’t find answers to your questions about forgiveness, call 1-800-347-0922.

Economic Injury Disaster Loan (EIDL) has been extended to the end of the year 12/31/21:
(www.sba.gov/funding-programs/disaster-assistance/economic-injury-disaster-loans).
For EIDL program questions or assistance, contact the SBA’s Customer Service Center at 1-800-659-2955 or disastercustomerservice@sba.gov. Remember to include your name, business name, phone number, email, and loan #. Ask that a loan officer respond by emailing you or calling you directly.

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County Resources:

Adams County Small Business Stabilization Program and Mini-Grant applications:
http://adamscountycovid19.org/financial-support

Arapahoe County Small Business Relief Fund Grant (deadline is 1/31/21):
www.arapahoegov.com/2154/Small-Business-Relief-Fund-Grant
Five Star Recovery Partner Program: www.arapahoegov.com/fivestar

Douglas County Small Business Relief Grant (deadline is 1/29/21):
www.douglas.co.us/small-business-grant-program

Tri-County Health Department also gives Safer At Home Guidance for Business:
https://www.tchd.org/836/Safer-at-Home-Guidance-for-Businesses.
You can Connect by webinar or see many valuable links to Guidance information.

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The State of Colorado sites may be useful for small business to keep up with COVID-19 information as it changes:

“Colorado’s dial framework about different levels of “openness” at the county level. It is a tool for counties to use to make life during the pandemic more sustainable, allowing us to balance, to the greatest extent possible, controlling the virus with our social and economic needs.” Visit the state site: https://covid19.colorado.gov. You can look for guidance by sector: https://covid19.colorado.gov/guidance-by-sector.

Can’t find an answer? Submit your COVID-related issues and concerns online: https://covid19.colorado.gov/CovidConcerns.

Kiva Crowdsourced Loans

Finances, Resources, Solutions, Webinars / By saraeknudsen

Kiva is a non-profit that expands access to capital for entrepreneurs around the world. More than 2.5 million people have raised over $1 billion on Kiva. Could you be next?

* Up to $15,000 at 0% interest, no fees
* Free marketing and new customers
* A great resource for start-ups AND existing, sophisticated businesses.
Especially during the time of COVID-19, businesses are using Kiva as emergency financing.

Enjoy learning about Kiva over lunch on Monday, December 7th, 12PM.
Register here for all the details.

Learn about the process from Rachael Sall, Kiva Hub Capital Access Manager with Colorado Lending Source: Hailing from a small business lending background, Rachael found her passion working with underserved communities in the area. Rachael works directly with diverse small business clients and tackles barriers to capital. She helps entrepreneurs prepare for the lending process and manages Colorado’s first Kiva Hub in partnership with Colorado Lending Source.