Resources for Denver and Colorado Small Businesses
If you own a small business in Denver or the State of Colorado the following resources may be of help in keeping your business afloat or keeping your employees paid during the coronavirus (COVID-19) outbreak.
Denver Mayor Michael B. Hancock has unveiled a $4 million relief fund. The most impacted small businesses in Denver can receive up to $7,500 in cash.
The U.S. Small Business Administration is offering designated states, including Colorado, low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of Covid-19. The SBA can provide up to $2 million of financial assistance.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Small Businesses with less than 500 employees and Sole proprietors, independent contractors, and self-employed persons may qualify for this program.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
Through their network of digital signs, Orange Barrel Media and sister company IKE Smart City are donating airtime to local businesses and non-profits and Denver is listed on their initial rollout.
Orange Barrel Media developed the #OBMSUPPORTSLOCAL initiative when mandated closures of local businesses began sweeping the nation. The initiative is designed to help create community awareness of the ways in which merchants and non-profits are trying to remain open for business in the midst of restrictions that force them to close their doors to the public.
Facebook is offering $100 million in cash grants and ad grants to small businesses that have been disrupted by the outbreak.
Additional resources available to support Colorado small businesses, nonprofits, freelancers, and independent contractors.
As a small business coaching firm, based in Colorado, we are an additional resource for small business owners needing to navigate this challenging time. If you are considering your next steps for your business, ways to continue earning revenue during the shutdown, how to manage your team remotely, or creating a new business plan to prepare for the uncertain months ahead I encourage you to contact us immediately.