Grand County Economic Development, in conjunction with our Chambers and Towns, are working collectively to bring you the most updated information on Business Resources available due to the COVID-19
COVD Business Bridge Loans (BEDA)
The fund is limited, on a first-come first-serve basis, and they are giving loans up to a max $5000. The terms include 1% interest on 39 months and no payment required for the first 3 months. The business must be able to provide 2019 Financials so they can establish that this is a viable business. Here is a link to the application. They hope to get the payment out within a week once the application is approved.
Grand County Emergency Assistance Fund
For vulnerable populations, Mountain Family Center will be accepting and administering all applications for rental/mortgage/utility assistance, food insecurities and grocery access. You can reach them at 970-557-3186. Other services needed please contact Megan Ledin at the Grand Foundation.
Grand Foundation – Housing Assistance Funds can be found on www.grandfoundation.com.
State and Federal Funding
Economic Injury Disaster Loan
Governor Jared Polis just announced that Colorado’s application for federal disaster area designation has been approved. The SBA Economic Injury Disaster Loan application is now open to business owners in all of Colorado’s 64 counties.
More information can be found at https://disasterloan.sba.gov/ela/. Do note, the website is experience unprecedented traffic. If the page will not load, please check back at a later time.
Other funding opportunities
Several entities are starting grant programs to specifically assist businesses being affected by COVID-19.
Facebook Small Business Grants Program
Facebook announced a $100 million program to help small businesses as governments throughout the country urge gyms and restaurants to close their doors to slow the coronavirus pandemic.
El Pomar Assistance Fund
El Pomar Foundation announced the establishment of the Colorado Assistance Fund (CAF). CAF is a $1 million fund offering immediate aid to nonprofit organizations supporting Colorado communities, organizations and individuals affected by the recent outbreak of COVID-19.
The nonprofit organization Kiva provides 0% interest loans to small businesses worldwide. They are expanding eligibility and the amount of loans provided during this crisis
Regional and State Offices
Colorado Office of Economic Development and International Trade (OEDIT)
https://choosecolorado.com/OEDIT Economic Injury Hotline:303-860-5881
OEDIT COVID-19 Resource Website: https://choosecolorado.com/covid19/
Colorado Small Business Development Center https://northwestsbdc.org/
The Colorado SBDC network is working with the Governor’s Office, OEDIT and the Colorado office of SBA to coordinate resources and assistance for small businesses across the state. As this is a very fluid crisis, the best place to find the latest information will be www.coloradosbdc.org/covid. . If you need specific information for our region, pdates from the Northwest SBDC will be published most quickly at www.facebook.com/NWCOSBDC
Colorado Workforce and Unemployment
For more information on Unemployment Insurance or wage and hour questions, go to https://www. colorado.gov/pacific/cdle/information-and-resources-coronavirus
Grand County Economic Development is actively working to develop other resources and assistance in helping businesses apply for the below services. Please contact [email protected] for specific questions.