ALERT: Small Business Funding and Colorado Disaster Loans

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on small business owners who are dealing with closures and other challenges in response to recommended or mandated social distancing measures in the wake of the spreading coronavirus 

March 23, 2020
ALERT: Small Business Funding and Colorado Disaster Loans
By the Lyons Gaddis Business Group

The following information comes courtesy of the Longmont Economic Development Partnership.

As of 1:00pm on March 19, Colorado has been declared eligible for SBA Economic Injury Disaster Loans. You can click here to begin your application. or learn more from the SBA at the following links.

U.S. Small Business Administration: Guidance for Businesses and Employers to Plan and Respond to COVID-19

U.S. Small Business Administration: Disaster Assistance Application for Low-Interest Loans

The Boulder County SBDC recommends opening an application today. These loans are offered on a first-come-first-serve basis. They also recommend gathering at least your last two years of financials, taxes, as well as projections.

Facebook is offering grants to small businesses impacted by COVID-19.

NEW: Colorado Lending Source has partnered with Kiva to create new 0% interest, 0 fee loans through the Kiva platform for US small businesses. Learn more by clicking here ». If you have any specific questions, you can reach out to Rachael Sall (rsall@coloradolendingsource.org), who is the Kiva Hub Capital Access Manager.

The LEDP Response Team is currently working with local financial and funding partners to explore short-term and medium-term options for grant funding to employers to cover rent, operating costs, payroll, and other expenses. When information is available, it will be posted here.

The Business Attorneys at Lyons Gaddis are available to advise you in relation to these loan programs and other COVID-19 related matters impacting your current and future business operations.