Employer/Business Resources

Federal Financial Assistance

The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

  • A borrower can apply for forgiveness once all loan proceeds have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan.
  • If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.
  • First Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
    • Employee and compensation levels are maintained
    • The loan proceeds are spent on payroll costs and other eligible expenses; and
    • At least 60% of the proceeds are spent on payroll costs
  • Second Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
    • Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan
    • The loan proceeds are spent on payroll costs and other eligible expenses; and
    • At least 60% of the proceeds are spent on payroll costs.
More on PPP Loan Forgiveness

The SBA’s Economic Injury Disaster Loan (EIDL) Program provides small businesses and non-profits with low-interest loans that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to COVID-19.

As of January 1, 2022, COVID EIDL is no longer accepting new applications but will continue to accept requests for increases, reconsideration, and appeals.

The U.S. Small Business Administration (SBA) will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31, 2021 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsideration and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.
Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.
SBA continues to offer other funding options for small businesses including traditional SBA loans.

Other Assistance

In response to the COVID-19 pandemic, Colorado Department of Local Affairs’ Division of Housing (DOH) has launched emergency rental assistance programs for both landlords and tenants. Through the Property Owner Preservation Program, any business or its tenants have been unable to pay rent due to financial hardship caused by COVID-19 may be eligible for rental assistance from the state. Visit the Division of Housing’s Emergency Rental Assistance webpage for more information and to apply.

This Google sheet helps Colorado’s small businesses find alternative funding sources beyond the EIDL, PPP, and other federal loans and programs.[/accordion-item][/accordion]

Colorado COVID-19 Legal Relief provides free legal support for businesses.

  • This organization connects attorneys with Colorado businesses in need to help them make informed decisions and get back on their feet.
  • From financial aid compliance to leasing arrangements and business liability, small businesses across our state face complex challenges and most small businesses need legal resources and expertise to make informed decisions.