The Colorado SBDC Network is here to help businesses who have been affected by recent disasters in Colorado including response to the current health crisis. Our consultants and partners including the SBA provide services to assist with disaster loan applications, long term planning, insurance navigation, physical and economic loss estimations, business preparedness and more. Please note that the SBDC is not a health organization; for the latest news regarding the current health situation, please contact the resources listed on this page.

Click here for the most current SBA FAQ’s on available programs. Click Here for the CARES Act Guide

The Colorado SBDC network collaborates with the Office of Economic Development and other state and federal agencies to provide you the latest COVID-19 small business response resources.

This page will be continuously updated. Check back often for new information. For regional assistance, news and events, please visit your local center's website below.

SBA Economic Injury Disaster Loans (EIDL) and Grant

  • Most small businesses including Sole Proprietors, Partnerships, LLC, Corporation, Joint Venture, Association, Trust, Cooperative, small agricultural cooperative, aquaculture, and most private non-profits.
  • Applicants must meet the SBA requirements of a small business (500 employees or fewer).
  • The size of the applicant alone (without affiliates) must not exceed the size standard for the industry in which the applicant is primarily engaged and; 
  • The size of the applicant combined with its affiliates must not exceed the size standard designated for either the primary industry of the applicant alone or the primary industry of the applicant and its affiliates, whichever is higher.
  • Businesses directly affected by COVID-19 and have suffered or are likely to suffer substantial economic injury
  • Business must be independently owned and operated
  • Businesses that offer services directly related to the businesses in the declaration
  • Other businesses indirectly related the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product)
  • Unable to obtain credit elsewhere

  • Business that is not considered small under SBA guidelines
  • Lending and investment concerns (except for real estate investments held for rental)
  • Loan packagers who derive more than 1/3 of their annual volume from the preparation of applications seeking financial assistance from the SBA
  • Multi-level sales distribution (Pyramid)
  • Speculative Activities
  • Agricultural Enterprises: If the primary activity of the business (including its affiliates) is as defined in Section 18(b)(1) of the Small Business Act, neither the business nor its affiliates are eligible for EIDL assistance. NOTE: Applicant is a business, including an agricultural cooperative, aquaculture enterprise, nursery, or producer cooperative, that is small under SBA Size Standards found at https://www.sba.gov/size-standards.  
  • Religious Organizations
  • Charitable Organizations and non profit organizations that are not considered a Private Non-Profit
  • Gambling Concerns (Ex: Concerns that derive more that 1/3 of their annual gross revenue from legal gambling activities)
  • Casinos & Racetracks (Ex: Businesses whose purpose for being is gambling (e.g., casinos, racetracks, poker parlors, etc.) are not eligible for EIDL assistance regardless of 1/3 criteria above.
  • Cannabis Industry
  • Consumer and Marketing Cooperatives
  • Political or lobbying concerns
  • Pawn shops
  • Real estate developers
  • Life insurance companies
  • Concerns engaged in illegal activities (as defined by Federal guidelines)
  • Government-owned concerns (except for businesses owned or controlled by a Native American tribe)
  • Concerns with principals incarcerated, on parole or probation
  • Concerns engaged in live performances of, or the sale of products, services of a prurient sexual nature
  • Businesses considered as hobbies
  • Businesses not located in the declared disaster area
  • Business has credit available elsewhere
  • Concerns involved in change in ownership situations
  • Concerns established post-disaster
  • Feedlot operators
  • Agricultural enterprises
  • Members of congress

  • Credit History: Applicants must have a credit history acceptable to SBA.
  • Repayment: SBA must determine that the applicant business has the ability to repay the SBA loan.
  • Eligibility: The applicant business must be physically located in a declared county and suffered working capital losses due to the declared disaster, not due to a downturn in the economy or other reasons.

  • Eligible entities may qualify for loans up to $2 million. 
  • The interest rates for this disaster are 3.75 percent for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years. 

These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits or for expansion. Funds cannot be used to pay down long-term debt.


    • Completed SBA loan application (SBA Form 5).
    • Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
    • Complete copies of the most recent Federal Income Tax Return.
    • Schedule of Liabilities (SBA Form 2202).
    • Personal Financial Statement (SBA Form 413).
    • Income, balance sheet, and cash flow documents.
    • Other Information may also be requested.

    Download this PDF on how to apply as well as this helpful checklist of documents needed for the EIDL application.

  • Complete copy, including all schedules, of the most recent Federal income tax return for principals, general partners or managing members, and affiliates (see filing requirements for more information)
  • If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year
  • A current year-to-date profit-and-loss statement
  • Additional Filing Requirements (SBA Form 1368) providing monthly sales figures (This is especially important for Economic Injury Disaster Loans)

  • Small businesses that submit complete loan packages could receive the money within three (3) weeks
  • Incomplete information and verification of collateral will delay the approval process

  • Include the specific disaster in your application – specifically reference “COVID-19” or Coronavirus
  • Apply online vs by mail (Applying online is best)
  • Write your password down; neither the system nor any personnel are able to retrieve it
  • Save your work at every prompt
  • Do not rush through the application. Check and recheck the filing requirements to ensure that all the needed information is submitted. The biggest reason for delays in processing is due to missing information.
  • Make sure to complete all filing requirements before submitting the application and forms
  • Be sure to use the same contact information (business name and the name of all owners) that you use on your federal tax returns. Double-check that they match
  • If your tax returns reference other businesses that you own, you must also submit those tax returns in order to avoid processing delays
  • If more funds are needed, applicants can submit supporting documents and a request for an increase. If fewer funds are needed, applicants can request a reduction in the loan amount.
  • If the loan request is denied, the applicant will be given up to six months in which to provide new information and submit a written request for reconsideration
  • As you consider applying for the different federal funding sources available for Colorado businesses, the following information can help you make the best choices for your situation: 

    1) Federal funds carry program-specific restrictions and it’s important to know and protect your options. Review each program thoroughly. Your approval and acceptance of a loan from one federal program may cause you to be fully or partially ineligible for other sources of federal funding. 

    2) Different federal funding such as loans and grants from multiple agencies will roll out at different times, so it’s important to consider the timing of the funding source.   

    3) Federal economic disaster recovery loans are accessible right now for qualified businesses; however, no federal economic disaster recovery grants have been announced. Unfortunately, for businesses seeking immediate help, there is no way to predict which future federal tools – including grants – may be employed as COVID continues to impact the US economy. This can place businesses in the challenging position of weighing an immediate federal tool against the possibility of future programs that may or may not be offered, with requirements yet to be determined.   

     

    We are committed to sharing news of all new economic recovery resources (both state and federal) as they become available and are here to be your guide through this challenging time.

  • All Colorado counties are represented as being located in a certified disaster declaration area. Currently the site is struggling with the traffic load. We would encourage anyone who can to access the site after peak hours (7pm to 7am MST).

  • Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela
  • Paper loan applications can be downloaded from www.sba.gov/disaster. Completed applications should be mailed to:
    U.S. Small Business Administration
    Processing and Disbursement Center
    14925 Kingsport Road
    Fort Worth, TX 76155
  • Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339) for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.
  • To check the status of your application, please visit this link here 

Yes, if you are a private non-profit with an effective ruling letter from the IRS, granting tax exemption under sections 501(c), (d), or (e) of the Internal Revenue Code of 1954, or if you can provide satisfactory evidence from the State that the non-revenue producing organization or entity is a non-profit one organized or doing business under State law. However, a recipient that is principally engaged in teaching, instructing, counseling, or indoctrinating religion or religious beliefs, whether in a religious or secular setting, or primarily engaged in political or lobbying activities is not eligible to receive an EIDL. If you are uncertain whether you qualify, please consult with legal counsel to determine whether your organization meets program criteria.

Whether you’ve already received an EIDL unrelated to COVID-19 or you receive a COVID19 related EIDL and/or Emergency Grant between January 31, 2020 and June 30, 2020, you may also apply for a PPP loan. If you ultimately receive a PPP loan or refinance an EIDL into a PPP loan, any advance amount received under the Emergency Economic Injury Grant Program would be subtracted from the amount forgiven in the PPP. However, you cannot use your EIDL for the same purpose as your PPP loan. For example, if you use your EIDL to cover payroll for certain workers in April, you cannot use PPP for payroll for those same workers in April, although you could use it for payroll in March or for different workers in April.

SBA Express Bridge Loans

Express Bridge Loan 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. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan. 

Terms:

  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan
Find an Express Bridge Loan Lender via SBA’s Lender Match Tool or by connecting with your local SBA District Office

Paycheck Protection Loans

The program provides cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis. Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls. Loans are available through June 30, 2020.

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. This loan has a maturity of 2 years and an interest rate of .5%. If you wish to begin preparing your application, you can download a sample form to see the information that will be requested from you.

  • A small business with fewer than 500 employees
  • A small business that otherwise meets the SBA’s size standard
  • A 501(c)(3) with fewer than 500 employees
  • An individual who operates as a sole proprietor
  •  An individual who operates as an independent contractor
  •  An individual who is self-employed who regularly carries on anytrade or business
  •  A Tribal business concern that meets the SBA size standard
  • A 501(c)(19) Veterans Organization that meets the SBA size standard

In addition, some special rules may make you eligible:

  • If you are in the accommodation and food services sector (NAICS 72),
  • the 500-employee rule is applied on a per physical location basis
  • If you are operating as a franchise or receive financial assistance from an approved Small Business Investment Company the normal
  •  Affiliation rules do not apply

  • Businesses or nonprofits that have laid-off workers (and not rehired them by April)
  • Businesses with over 500 employees
  • Businesses that intend to use the loan for Immediate cash flow needs
  • Businesses that cannot maintain payroll for six months due to ongoing economic impacts of the virus would not be able to receive forgiveness
  • Businesses that are affiliated to larger businesses (may disqualify VC or PE funded businesses) except those waived
  • Businesses that engage in activities not legal under federal law (Marijuana)

In evaluating eligibility, lenders are directed to consider whether the borrower was in operation before February 15, 2020, and had employees for whom they paid salaries and payroll taxes or paid independent contractors. Lenders will also ask you for a good faith certification that: 

  • The uncertainty of current economic conditions makes the loan request necessary to support ongoing operations 
  • The borrower will use the loan proceeds to retain workers and maintain payroll or make mortgage, lease, and utility payments 
  • The borrower does not have an application pending for a loan duplicative of the purpose and amounts applied for here 
  • From Feb. 15, 2020, to Dec. 31, 2020, the borrower has not received a loan duplicative of the purpose and amounts applied for here (Note: There is an opportunity to fold emergency loans made between Jan. 31, 2020 and the date this loan program becomes available into a new loan) 

If you are an independent contractor, sole proprietor, or self-employed individual, lenders will also be looking for certain documents (final requirements will be announced by the government) such as payroll tax filings, Forms 1099-MISC, and income and expenses from the sole proprietorship

 

Affiliation rules become important when SBA is deciding whether a business’s affiliations preclude them from being considered “small.” Generally, affiliation exists when one business controls or has the power to control another or when a third party (or parties) controls or has the power to control both businesses. Please see this resource for more on these rules and how they can impact your business’s eligibility.

In general, 501(c)(3) and 501(c)(19) non-profits with 500 employees or fewer as most nonprofit SBA size standards are based on employee count, not revenue. You can check here.

Depending on your business’s situation, the loan size will be calculated in different ways (see below). The maximum loan size is always $10 million.

• If you were in business February 15, 2019 – June 30, 2019: Your max loan is equal to 250 percent of your average monthly payroll costs during that time period. If your business employs seasonal workers, you can opt to choose March 1, 2019 as your time period start date.

• If you were not in business between February 15, 2019 – June 30, 2019: Your max loan is equal to 250 percent of your average monthly payroll costs between January 1, 2020 and February 29, 2020.

• If you took out an Economic Injury Disaster Loan (EIDL) between February 15, 2020 and June 30, 2020 and you want to refinance that loan into a PPP loan, you would add the outstanding loan amount to the payroll sum.

• Compensation (salary, wage, commission, or similar compensation, payment of cash tip or equivalent)

• Payment for vacation, parental, family, medical, or sick leave

• Allowance for dismissal or separation

• Payment required for the provisions of group health care benefits, including insurance premiums

• Payment of any retirement benefit

• Payment of State or local tax assessed on the compensation of employees

• Employee/owner compensation over $100,000

• Taxes imposed or withheld under chapters 21, 22, and 24 of the IRS code

• Compensation of employees whose principal place of residence is outside of the U.S.

 • Qualified sick and family leave for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act

• Payroll costs (as noted above)

• Costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums

• Employee salaries, commissions, or similar compensations (see exclusions above)

• Payments of interest on any mortgage obligation (which shall not include any prepayment of or payment of principal on a mortgage obligation)

• Rent (including rent under a lease agreement)

• Utilities

• Interest on any other debt obligations that were incurred before the covered period

For any amounts not forgiven, the maximum term is 10 years, the maximum interest rate is 4 percent, zero loan fees, zero prepayment fee (SBA will establish application fees caps for lenders that charge).

Forgiveness on a covered loan is equal to the sum of the following payroll costs incurred during the covered 8 week period compared to the previous year or time period, proportionate to maintaining employees and wages (excluding compensation over $100,000):

• Payroll costs plus any payment of interest on any covered mortgage obligation (not including any prepayment or payment of principal on a covered mortgage obligation) plus any payment on any covered rent obligation plus and any covered utility payment.

You must apply through your lender for forgiveness on your loan. In this application, you must include:

• Documentation verifying the number of employees on payroll and pay rates, including IRS payroll tax filings and State income, payroll and unemployment insurance filings.

• Documentation verifying payments on covered mortgage obligations, lease obligations, and utilities.

• Certification from a representative of your business or organization that is authorized to certify that the documentation provided is true and that the amount that is being forgiven was used in accordance with the program’s guidelines for use.

Any loan amounts not forgiven are carried forward as an ongoing loan with max terms of 10 years, at a maximum interest rate of 4%. Principal and interest will continue to be deferred, for a total of 6 months to a year after disbursement of the loan. The clock does not start again.

No, an entity is limited to one PPP loan. Each loan will be registered under a Taxpayer Identification Number at SBA to prevent multiple loans to the same entity.

All current SBA 7(a) lenders (see more about 7(a) here) are eligible lenders for PPP. The Department of Treasury will also be in charge of authorizing new lenders, including nonbank lenders, to help meet the needs of small business owners.

Borrowers may apply for PPP loans and other SBA financial assistance, including Economic Injury Disaster Loans (EIDLs), 7(a) loans, 504 loans, and microloans, and also receive investment capital from Small Business Investment Corporations (SBICs). However, you cannot use your PPP loan for the same purpose as your other SBA loan(s). For example, if you use your PPP to cover payroll for the 8-week covered period, you cannot use a different SBA loan product for payroll for those same costs in that period, although you could use it for payroll not during that period or for different workers.

Emergency Economic Injury Grant and Economic Injury Disaster Loan (EIDL) recipients and those who receive loan payment relief through the Small Business Debt Relief Program may apply for and take out a PPP loan as long as there is no duplication in the uses of funds. Refer to those sections for more information.

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union,  and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

Lenders may begin processing loan applications as soon as April 3, 2020.

Small Business Debt Relief Program

This program provides immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law.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.

7(a) loans not made under the Paycheck Protection Program (PPP), 504 loans, and microloans. Disaster loans are not eligible (see p. 7 for more information on these).

Borrowers may separately apply for and take out a PPP loan, but debt relief under this program will not apply to a PPP loan.

In general, businesses must meet size standards, be based in the U.S., be able to repay, and have a sound business purpose. To check whether your business is considered small, you will need your business’s 6-digit North American Industry Classification System (NAICS) code and 3-year average annual revenue. Each program has different requirements, see https://www.sba.gov/fundingprograms/loans for more details.

7(a) loans are an affordable loan product of up to $5 million for borrowers who lack credit elsewhere and need access to versatile financing, providing short-term or long-term working capital and to purchase an existing business, refinance current business debt, or purchase furniture, fixtures and supplies. In the program, banks share a portion of the risk of the loan with SBA. There are many different types of 7(a) loans, you can visit this site to find the one that’s best for you. You apply for a 7(a) loan with a bank or a mission-based lender. SBA has a free referral service tool called Lender Match to help find a lender near you.

The 504 Loan Program provides loans of up to $5.5 million to approved small businesses with longterm, fixed-rate financing used to acquire fixed assets for expansion or modernization. It is a good option if you need to purchase real estate, buildings, and machinery. You apply through a Certified Development Company, which is a nonprofit corporation that promotes economic development. SBA has a free referral service tool called Lender Match to help find a lender near you.

The Microloan Program provides loans up to $50,000 to help small businesses and certain not-forprofit childcare centers to start up and expand. The average microloan is about $13,000. These loans are delivered through mission-based lenders who are also able to provide business counseling. SBA has a free referral service tool called Lender Match to help find a microlender near you.

Other Provisions

For borrowers who already have SBA 7A loans in place before COVID-19, $17 billion is allocated to have SBA step in and make six months of principal and interest payments for all SBA backed business loans. 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.

  • Available for all 7a loans (including Community Advantage Loans) loan except Paycheck Protection Loans
  • The SBA shall pay all principal and interest on existing 7a, 504 and microloans made before this act was passed that are not on deferment for 6 months starting with the next payment
  • For deferred loans, the SBA payments start after the deferment period ends
  • Lenders may extend the maturity for loans by one year even beyond normal statutory max when deferment occurs
  • NOTE: This is for  borrowers who already had 7a loans in place before COVID-19

  • Available for all existing 7a, 504 and microloans (including Community Advantage Loans) loan except Paycheck Protection Loans
  • This is for borrowers who already had SBA loans in place before COVID-19

  • Does not apply to new 7a loans made after this act was passed which are covered by EIDL Loans or Paycheck Protection Loans
  • Businesses that engage in activities not legal under federal law (Marijuana)

Payroll Tax Credits

A payroll tax credit for wages paid by businesses that fully or partially close due to Coronavirus. 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.

  • A credit against 50% of payroll taxes on qualified wages per quarter (the employer share of Social Security taxes) for any quarter in which the business is fully or partially suspended or in which there was a significant revenue decline in 2020
  • The credit is refundable
  • For businesses with more than 100 employees, only wages for employees that are not still working are eligible
  • Credit only applies to a max of $10K per employee
  • Wages for any employee for which the credit applies may not exceed wages the employee received in the 30 day period previous.
  • Businesses receiving other EIDL or Paycheck Protection Loans would not be eligible.

  • Any business that partially or fully closed during the Coronavirus crisis or that experiences significant revenue declines due to the virus.
  • Self-employed individuals that similarly qualify

Payroll Tax Deferral

Allows businesses to a deferral for payroll taxes owed in 2020. Half would be payable in December 2021 and the other half in December 2022. Businesses receiving other EIDL or Paycheck Protection Loans would not be eligible. 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.

Statewide Resources
  • The Small Business Navigator is the first point of contact for new and existing business owners with questions about federal, state and local licensing requirements. The navigator also provides referrals to a variety of state and federal assistance programs and local small business training. In addition, the navigator maintains a comprehensive database of federal, state and local regulatory and permitting requirements. SMALL BUSINESS COVID-19 DISASTER RESPONSE HOTLINE: 303-860-5881 ((OPEN MONDAY-FRIDAY 8AM-5PM))
  • The Colorado SBDC Networking is regularly hosting webinars to guide you through the COVID-19 emergency response and preparedness.
  • The Pikes Peak Small Business Development Center and the Pikes Peak Workforce Center have collaborated to provide our small business community the latest information in small business emergency response. Sponsored by the Colorado Springs Business Journal. We understand that as a small business, you may have already experienced economic injury. This panel will provide you with the latest resources and updates on small business support.
  • Visit this website for the latest information for employers and workers. Website links include information on: - Paid Sick Leave for COVID-19 - Workplace Preparedness - Information from the Division of Federal Employees Compensation (DFEC)
  • Find details on the latest leave with pay rules and industry specifics.
  • The Colorado Department of Public Health and Environment is a great resource to keep up on the latest throughout the state of Colorado.
  • There have been a number of executive orders and public health orders released by the governor this month and the legal language used can be hard to understand. We have provided this information, written for the rest of us, about what they mean and who is affected.
  • Support CO Local is helping local businesses in Colorado sell gift cards in order for them to keep revenue coming in during their closure for the COVID-19.
  • The resources at choosecolorado.com provide state and federal COVID-19 announcements, programs, and information relevant to Colorado businesses.
  • Business Interruption insurance normally covers the replacement of lost income when operations are halted during a natural disaster such as a fire. It covers operating expenses, a move to a temporary location, payroll, taxes and loan payments. The Coronavirus pandemic is uncharted territory and until we know more about what insurances companies should cover, here are some steps to advocate for yourself:

    1. Ask your agent to file a claim with the carrier even if they tell you that your business is not covered.
    2. When you receive the declination document, write a letter to the carrier and tell them why you are disputing the declination (be specific)
    3. If declined again, connect with an independent insurance specialist and see if the next step should be to file a request for help with the Colorado Division of Insurance at https://www.colorado.gov/pacific/dora/ask-question-make-complaint-division-insurance
  • 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.
  • Below is a list of resources that are generally available to Colorado tenants who may be struggling to pay some of their rent amid Coronavirus. The organizations are broken down by state, state nonprofit, county and city resources. The organizations in the list below are not affiliated with the Colorado Apartment Association or any of its subsidiaries.
  • Executive Order D 2020 017 “Ordering Coloradans To Stay at Home Due to the Presence of COVID-19 in the State,” and the corresponding Public Health Order 20-24 Amended Public Health Order 20-24 Implementing Stay at Home Requirements (PHO 20-24) exempt critical businesses. Please see PHO 20- 24 for the complete and current list of authorized businesses that are exempt.
Federal Resources
  • This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). The Centers for Disease Control and Prevention (CDC) will update this interim guidance as needed and as additional information becomes available.
  • The U.S. SBA is offering designated states and territories low-interest federal disaster loans for working capital. Read about the process here. STATUS: Applications now open
  • Cleaning of visibly dirty surfaces followed by disinfection is a best practice measure for prevention of COVID-19 and other viral respiratory illnesses in community settings.
  • If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, tax, or charge of any kind, including the purchase of gift cards, please do not respond.
  • The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic - announced Treasury Secretary Steven Mnuchin today.- The news has been verified via multiple news agencies. The IRS site has not been updated. Secretary Mnuchin urged those getting a return to file now to receive their return as soon as possible.
  • Contracting
    If a situation occurs that will prevent small businesses with federal government contracts from successfully performing, they should reach out to their contracting officer and seek extensions before they receive cure notices or threats of termination.

    Please read this blog for how government contractors can protect your company against virus impact through this link here. https://bit.ly/33Ryzir
  • The U.S. Chamber has compiled CDC’s coronavirus recommendations for businesses and workers across the country. We continue to encourage American businesses to follow data-based guidance from the CDC and state and local officials.
  • U.S. CBP has created this webpage for updates, information and impacts on trade due to the outbreak of COVID-19.
  • XIM is committed to fully supporting the U.S. exporting community during this crisis. This page will be updated with any information about EXIM's response activities.

Several entities are starting grant programs to specifically assist businesses being affected by 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.
  • 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.
  • 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.
  • 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.
  • 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.

As the news spreads about Corona Virus (COVID-19), many businesses have questions about whether they can shut down sites where the infection is present or conduct a preemptive shut-down of sites where there is no infection to safeguard the health of their employees. Businesses are asking, “will their employees be eligible for unemployment insurance benefits during the temporary shutdown”?

The answer is, if an employer stops work (for whatever reason), it is considered a layoff or partial separation. Employees during the temporary shut-down may file a claim to collect unemployment insurance benefits as job attached claimants. They would still be required to meet the eligibility requirements during any weeks they claimed.

Job Attached Layoff

Job attached means that you are expected to return to your most recent employer after a separation of up to 16 weeks. If you are job attached, your work-search requirements may be waived, but you must be available to return to work during this time frame. Union attached is the same except the union must find work for you within 16 weeks.

If your work-search requirements are not waived, keep in mind, we may conduct an audit of your claim up to two years from the start of your claim and you may be asked to provide your work-search documentation at that time. If you are unable to produce your work-search documents with all requirements met, you may be denied unemployment and may have to pay back any benefits already received for those weeks.

The Work-Share Program

Thinking of laying off employees? Consider the Work-Share Program.

The Work-Share Program provides an alternative to laying off employees by allowing them to keep working, but with fewer hours. While an employee is working fewer hours, he or she may be eligible to collect part of his or her regular unemployment benefits.

Requirements and qualifications for employers:

 

  • You must have reduced the normal weekly work hours by at least 10 percent, but by no more than 40 percent.
  • The reduction must affect at least two out of all employees in the business, or a minimum of two employees in a certain unit.
  • You must have paid as much in premiums as we paid your former employees in unemployment insurance benefits. See the rate notice mailed in November.

Colorado Gov. Jared Polis declared a state of emergency on March 10 to protect public health and our vulnerable populations and prevent the spread of the COVID-19 virus. In support of this goal, Colorado Tourism Office has suspended operations for all 10 Colorado Welcome Centers until further notice. All downhill ski areas and resorts in Colorado are closed, as well as many visitor attractions, museums, performance venues and retail stores. Please consult their website or contact them for more information.

Governor Polis has restricted Colorado restaurants and bars from providing dine-in service through April 15. Many restaurants have switched to delivery, take-out, curbside and drive through service to continue serving customers. Many hotels are providing room service. Some communities may have more specific health guidelines. Travelers planning a visit should check with their hotel or the local visitors bureau for guidance.

 

COVID-19 Recursos para Pequeños Negocios

Colorado SBDC COVID-19 Disaster Response Webinars

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

CARES Act Loan Checklist

COVID-19 Small Business Response Resources

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.

Watch the Video!

Newsworthy

Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak

US Patent and Trademark Office Alert: Closure of USPTO facilities to the public

Scroll to Top