Governor Polis Secures Federal Loan Aid For Colorado Small Businesses

The following is

from the office of Governor Jared Polis:

Colorado small businesses affected by COVID-19 can apply for up to $ 2 million in individual small business loans through the Small Business Administration’s Economic Injury Disaster Loan program. Small businesses in all 64 counties can apply for SBA disaster disaster economic injury loans. Governor Jared Polis announced that Colorado’s application for federal disaster area designation has been approved.

“The economic impact of COVID-19 is being felt across our state. We are committed to protecting public health and safety and we will continue to fight to ensure that the pain that small businesses feel in Colorado is limited. This critical label enables small businesses in all 64 Colorado counties to apply for federal renovation loans that can help them through this troubled time. I thank the Colorado federal delegation for their efforts to unlock this aid, ”said Governor Polis.

SBA Disaster Relief provides low-interest federal working capital loans to small businesses in Colorado that have suffered economic damage from COVID-19. Funding came from the US Congress Coronavirus Preparedness and Response Supplemental Appropriations Act.

“The Colorado Office of Economic Development and International Trade is committed to helping our small businesses access these vital resources,” said executive director Betsy Markey. “Eligibility information, links to loan applications, and recovery resources are all available at Choosecolorado.com.”

“Small businesses are the fabric of our economy, and their success depends on the ability to freely market products and services to communities across the state and around the world,” said SBA regional administrator Dan Nordberg. “Local small businesses are bearing the brunt of this impact and facing a sharp drop in customer traffic. SBA’s top priority is helping businesses adversely affected by the coronavirus (COVID-19) and our economic damage loans can be the working capital lifelines they need to survive this troubled time. “

Small businesses, private nonprofits, small agricultural cooperatives, and small aquaculture businesses affected by COVID-19 can apply for federal loans to meet vital needs such as fixed debts, payrolls, and liabilities.

Via the Colorado Office of Economic Development and International Trade

The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that promotes dynamic economic development and sustainable employment growth. Under the leadership of Governor Jared Polis, we endeavor to promote the state’s economy through financial and technical assistance that encourages local and regional economic development activities across Colorado. OEDIT offers a variety of programs and services tailored to support business development at any level, including business loyalty services, business relocation services, and business financing and incentives. Our office includes the Global Business Development department; Colorado Tourist Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Corporate Finance & Incentives division; the Colorado Small Business Development Network; Colorado Office for Film, Television, and Media; the office for minorities; and the Colorado Innovation Network. Find out more at www.choosecolorado.com.