Now Available: Small Business Administration’s Economic Injury Disaster Loan Program
The Chamber began working with the Governor’s Office of Economic Development last Friday to
ensure that Routt County and our neighboring counties were included in the Governor’s request to the Small Business Administration (SBA) to implement its Economic Injury Disaster Loan Program. Earlier today these loans became available to all 64 counties in the state of Colorado.
The SBA Economic Injury Disaster Loan Program allows small businesses impacted by COVID-19 to seek individual small business loans up to $2M. This SBA disaster assistance provides low-interest, federal loans for working capital to Colorado small businesses that have realized economic injury.
Small businesses, private non-profit organizations, small agricultural cooperatives and small aquaculture enterprises impacted by COVID-19 can seek federal loans to pay key needs such as fixed debts, payroll, and accounts payable. Utilizing the Business Recovery Guide is very important, and business owners need to start tracking business losses as soon as possible on page 27 of the Business Recovery Guide.