Colorado COVID-19 Small Business Hotline: The information listed on this page can be a lot to process. If you want to talk to someone in person about what assistance your small business may receive contact the State’s Small Business COVID-19 Disaster Response Hotline at 303-860-5881 (M-F, 8am-5pm)
The CARES Act includes $350 billion to help small businesses keep workers employed through economic downturn caused by the pandemic. The Paycheck Protection Program is an initiative that provides 100% federally guaranteed loans to small businesses. Note: these loans may be forgiven if borrowers maintain their payrolls throughout the crisis or restore their payrolls afterward. *Locally, we have one Preferred Small Business Loan lender in our area: First Southwest Bank
Families First Coronavirus Response Act: The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave and expanded family and medical leave for specified reasons related to COVID-19. These provisions will apply from April 1, 2020 through December 31, 2020: FFCRA Employee Rights Poster
Some businesses may also want to explore the option of reducing hours for workers instead of laying off staff. Through the Work-Share Program, while employees are working fewer hours, the State of Colorado can pay them part of their regular unemployment benefits: CDLE Work Share Program
The La Plata County Department of Economic Alliance put together a COVID-19 Resource Playbook for small businesses to research their potential assistance illegibility.
The Colorado SBDC Network is another group helping businesses who have been affected by recent disasters in Colorado including response to the current health crisis by providing accessible webinars filled with current helpful information: COVID-19 Small Business Response Resources