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