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Helping businesses statewide respond to the current health crisis

COVID-19 Small Business Response Resources

The Pikes Peak SBDC is here to help businesses who have been affected by recent disasters in Colorado including response to the current health crisis. Our consultants and partners including the SBA provide services to assist with disaster loan applications, long term planning, insurance navigation, physical and economic loss estimations, business preparedness and more. Please note that the SBDC is not a health organization; for the latest news regarding the current health situation, please contact the resources listed on this page. To find your local SBDC’s resources, click here.

NOTE: You have the ability to wait to accept a product or grant after you apply and are approved. Depending on your situation, a prudent action might be to apply to multiple products, then weigh options, and make informed decisions, as additional details become available. 

Click here for the most current SBA FAQ’s on available programs. Click here for the CARES Act guide.

Resource Videos & Webinars

Economic Injury Disaster Loan Emergency Advance

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.

  • Grants for businesses that apply for but do not qualify for the EIDL
  • Program loans equal to two and a half months of payroll, up to $10 million.
  • No personal guarantee on awards of $200,000 or less for EIDL loans
  • The loans will convert to grants if businesses use them to maintain employees.
  • Businesses will be able to apply for loans through local and national lenders
  • Business with not more than 500 employees
  • Sole proprietorship, with or without employees, and independent contractors
  • A cooperative with not more than 500 employees
    • ESOP with not more than 500 employees; or a tribal small business concern, with not more than 500 employees.
  • Private nonprofit organizations
  • Small agricultural cooperatives
  • Businesses that are affiliated to larger businesses
    • May disqualify VC or PE funded businesses
  • Businesses that engage in activities not legal under federal law (Marijuana)

Paycheck Protection Program Loans (PPP)

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

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.

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.

Download the PPP Made Easy Slides Here

Download the list of Colorado Participating Lenders Here

Colorado SBDC COVID-19 Disaster Response Webinars

CARES ACT: Emergency Relief Guide & Checklist

COVID Small Business Resource Quick Guide

Download this guide for a quick look at the latest in response resources for small businesses.

Watch the Video!

Newsworthy

PPSBDC In the News

Loans, grants available for struggling small businesses

COLORADO SPRINGS — With the $2 trillion coronavirus stimulus bill passed into law there's about $350 billion that will go toward loans for small businesses.
  • 100 percent guaranteed SBA loans, a portion of which SBA will forgive based on allowable expenses for the borrower.
  • Loans to be made by approved private sector SBA lenders between Feb 15 and December 31, 2020
    • Private Lender does not need to consider repayment ability for eligibility, instead: the borrower must be in operation by Feb 15, 2020, and have W2 employees or 1099 contractors
    • Lenders must defer payments on principal interest and fees for at least 6 months and up to a year
  • The maximum loan amount is $10M
  • The maximum loan amount is $10M
  • Permitted use of proceeds are salary, benefits, payroll costs, payments on mortgages or existing loans, rent, and utilities
  • Delegated Authority private lender makes credit decisions without normal full SBA review
  • These loans can be stacked with EIDL loans to cover other costs besides permitted proceeds if there is need
  • Loan recipient must certify they were hurt by economic conditions and will use proceeds as permitted
  • Prepayment penalties and affiliation rules for accommodation, food services, and franchises are waived.
  • A small business with fewer than 500 employees
  • A small business that otherwise meets the SBA’s size standard
  • A 501(c)(3) with fewer than 500 employees
  • An individual who operates as a sole proprietor
  • An individual who operates as an independent contractor
    An individual who is self-employed who regularly carries on anytrade or business
  • A Tribal business concern that meets the SBA size standard
  • A 501(c)(19) Veterans Organization that meets the SBA size standard

In addition, some special rules may make you eligible:

  • If you are in the accommodation and food services sector (NAICS 72),
  • the 500-employee rule is applied on a per physical location basis
  • If you are operating as a franchise or receive financial assistance from an approved Small Business Investment Company the normal
  • Affiliation rules do not apply
  • Businesses or nonprofits that have laid-off workers (and not rehired them by April)
  • Businesses with over 500 employees
  • Businesses that intend to use the loan for Immediate cash flow needs
  • Businesses that cannot maintain payroll for six months due to ongoing economic impacts of the virus would not be able to receive forgiveness
  • Businesses that are affiliated to larger businesses (may disqualify VC or PE funded businesses) except those waived
  • Businesses that engage in activities not legal under federal law (Marijuana)

In evaluating eligibility, lenders are directed to consider whether the borrower was in operation before February 15, 2020, and had employees for whom they paid salaries and payroll taxes or paid independent contractors. Lenders will also ask you for a good faith certification that:

  • The uncertainty of current economic conditions makes the loan request necessary to support ongoing operations
  • The borrower will use the loan proceeds to retain workers and maintain payroll or make mortgage, lease, and utility payments
  • The borrower does not have an application pending for a loan duplicative of the purpose and amounts applied for here
  • From Feb. 15, 2020, to Dec. 31, 2020, the borrower has not received a loan duplicative of the purpose and amounts applied for here (Note: There is an opportunity to fold emergency loans made between Jan. 31, 2020 and the date this loan program becomes available into a new loan)

If you are an independent contractor, sole proprietor, or self-employed individual, lenders will also be looking for certain documents (final requirements will be announced by the government) such as payroll tax filings, Forms 1099-MISC, and income and expenses from the sole proprietorship

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

This loan has a maturity of 2 years and an interest rate of 1%.

If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

• If you are not connected to an authorized lender, you can search for an eligible lender here. If you are unable to find an eligible lender, you contact the local Colorado SBA District Office. We are also working on a list of eligible lenders to share and post in the near future.

SBA Debt Relief

As part of SBA’s debt relief efforts, the SBA will automatically pay the principal, interest, and fees of current 7(a) loans for a period of six months. The SBA will also automatically pay the principal, interest, and fees of new 7(a) loans issued prior to September 27, 2020.

  • Available for all 7a loans (including Community Advantage Loans) loan except Paycheck Protection Loans
  • The SBA shall pay all principal and interest on existing 7a, 504 and microloans made before this act was passed that are not on deferment for 6 months starting with the next payment
  • For deferred loans, the SBA payments start after the deferment period ends
  • Lenders may extend the maturity for loans by one year even beyond normal statutory max when deferment occurs
  • NOTE: This is for borrowers who already had 7a loans in place before COVID-19
  • Available for all existing 7a, 504 and microloans (including Community Advantage Loans) loan except Paycheck Protection Loans
  • This is for borrowers who already had SBA loans in place before COVID-19
  • Does not apply to new 7a loans made after this act was passed which are covered by EIDL Loans or Paycheck Protection Loans
  • Businesses that engage in activities not legal under federal law (Marijuana)

Additional Debt Relief

For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020.

What does an “automatic deferral” mean to borrowers?

Interest will continue to accrue on the loan.
1201 monthly payment notices will continue to be mailed out which will reflect the loan is deferred and no payment is due.
The deferment will NOT cancel any established Preauthorized Debit (PAD) or recurring payments on your loan. Borrowers that have established a PAD through Pay.Gov or an OnLine Bill Pay Service are responsible for canceling these recurring payments. Borrowers that had SBA establish a PAD through Pay.gov will have to contact their SBA servicing office to cancel the PAD.
Borrowers preferring to continue making regular payments during the deferment period may continue remitting payments during the deferment period. SBA will apply those payments normally as if there was no deferment.
After this automatic deferment period, borrowers will be required to resume making regular principal and interest payments. Borrowers that cancelled recurring payments will need to reestablish the recurring payment.

If you have questions about your current loan and whether or not your loan is automatically deferred, please contact your Loan Servicing Office directly using the following information:

Birmingham Disaster Loan Servicing Center:
Phone: 800-736-6048
Email: BirminghamDLSC@sba.gov
El Paso Disaster Loan Servicing Center:
Phone: 800-487-6019
Email: ElPasoDLSC@sba.gov

Payroll Tax Credits

A payroll tax credit for wages paid by businesses that fully or partially close due to Coronavirus. The Federal Government is working diligently on developing the application process for these loans and we will let individuals know that information when it is released and applications are open.

  • A credit against 50% of payroll taxes on qualified wages per quarter (the employer share of Social Security taxes) for any quarter in which the business is fully or partially suspended or in which there was a significant revenue decline in 2020
  • The credit is refundable
  • For businesses with more than 100 employees, only wages for employees that are not still working are eligible
  • Credit only applies to a max of $10K per employee
  • Wages for any employee for which the credit applies may not exceed wages the employee received in the 30 day period previous.
  • Businesses receiving other EIDL or Paycheck Protection Loans would not be eligible.
  • Any business that partially or fully closed during the Coronavirus crisis or that experiences significant revenue declines due to the virus.
  • Self-employed individuals that similarly qualify

Payroll Tax Deferral

Allows businesses to a deferral for payroll taxes owed in 2020. Half would be payable in December 2021 and the other half in December 2022. Businesses receiving other EIDL or Paycheck Protection Loans would not be eligible. The Federal Government is working diligently on developing the application process for these loans and we will let individuals know that information when it is released and applications are open.

SBA Express Bridge Loan (EBL) Pilot Program

Express Bridge Loan (EBL) Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork.

EBL loans can only be made by SBA Express Lenders that had a valid Supplemental Loan Guaranty Agreement SBA Express Program (SBA Form 2424) in effect as of the date of the applicable disaster.

Eligible small businesses are those that were located, as of the date of the applicable disaster, in the Primary Counties that have been Presidentially-declared as disaster areas, plus any Contiguous Counties. The small business must have been operational when the declared disaster commenced, and must meet all other 7(a) loan eligibility requirements.

Terms:

  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan

Find an Express Bridge Loan Lender via SBA’s Lender Match Tool or by connecting with your local SBA District Office.

SBA Economic Injury Disaster Loans

  • Most small businesses including Sole Proprietors, Partnerships, LLC, Corporation, Joint Venture, Association, Trust, Cooperative, small agricultural cooperative, aquaculture, and most private non-profits.
  • Applicants must meet the SBA requirements of a small business (500 employees or fewer).
  • The size of the applicant alone (without affiliates) must not exceed the size standard for the industry in which the applicant is primarily engaged and; 
  • The size of the applicant combined with its affiliates must not exceed the size standard designated for either the primary industry of the applicant alone or the primary industry of the applicant and its affiliates, whichever is higher.
  • Business has physical presence within the declared disaster area
  • Businesses directly affected by COVID-19 and have suffered or are likely to suffer substantial economic injury
  • Business must be independently owned and operated
  • Businesses that offer services directly related to the businesses in the declaration
  • Other businesses indirectly related the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product)
  • Unable to obtain credit elsewhere

  • Business that is not considered small under SBA guidelines
  • Lending and investment concerns (except for real estate investments held for rental)
  • Loan packagers who derive more than 1/3 of their annual volume from the preparation of applications seeking financial assistance from the SBA
  • Multi-level sales distribution (Pyramid)
  • Speculative Activities
  • Agricultural Enterprises: If the primary activity of the business (including its affiliates) is as defined in Section 18(b)(1) of the Small Business Act, neither the business nor its affiliates are eligible for EIDL assistance.
  • Religious Organizations
  • Charitable Organizations and non profit organizations that are not considered a Private Non-Profit
  • Gambling Concerns (Ex: Concerns that derive more that 1/3 of their annual gross revenue from legal gambling activities)
  • Casinos & Racetracks (Ex: Businesses whose purpose for being is gambling (e.g., casinos, racetracks, poker parlors, etc.) are not eligible for EIDL assistance regardless of 1/3 criteria above.
  • Cannabis Industry
  • Consumer and Marketing Cooperatives
  • Political or lobbying concerns
  • Pawn shops
  • Real estate developers
  • Life insurance companies
  • Concerns engaged in illegal activities (as defined by Federal guidelines)
  • Government-owned concerns (except for businesses owned or controlled by a Native American tribe)
  • Concerns with principals incarcerated, on parole or probation
  • Concerns engaged in live performances of, or the sale of products, services of a prurient sexual nature
  • Businesses considered as hobbies
  • Businesses not located in the declared disaster area
  • Business has credit available elsewhere
  • Concerns involved in change in ownership situations
  • Concerns established post-disaster
  • Feedlot operators
  • Agricultural enterprises
  • Members of congress
  •  

  • Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela
  • Paper loan applications can be downloaded from www.sba.gov/disaster. Completed applications should be mailed to:
    U.S. Small Business Administration
    Processing and Disbursement Center
    14925 Kingsport Road
    Fort Worth, TX 76155
  • Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.

  • Completed SBA loan application (SBA Form 5).
  • Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
  • Complete copies of the most recent Federal Income Tax Return.
  • Schedule of Liabilities (SBA Form 2202).
  • Personal Financial Statement (SBA Form 413).
  • Income, balance sheet, and cash flow documents.
  • Other Information may also be requested.

Download this PDF on how to apply as well as this helpful checklist of documents needed for the EIDL application.

  • Credit History: Applicants must have a credit history acceptable to SBA.
  • Repayment: SBA must determine that the applicant business has the ability to repay the SBA loan.
  • Eligibility: The applicant business must be physically located in a declared county and suffered working capital losses due to the declared disaster, not due to a downturn in the economy or other reasons.

  • After you apply for an SBA disaster loan, SBA will contact you (at the telephone number and address you provided to SBA) to process your request to advise the status of your request. In addition to calling you, SBA will also be notify you in writing of all loan decisions.
    If SBA declines your request or withdraws your loan:
    • SBA offers 6 months after the date of a decline decision for you to request reconsideration.
    • SBA offers 6 months after the date of withdrawal for you to request reinstatement.
    What happens if my loan is denied or withdrawn from consideration?
    • Contact* SBA Customer Service Center at 800-659-2955 for more information. Stay in touch with SBA. If you can’t provide requested information or if SBA cannot reach you, SBA may withdraw your application and close your file. You may withdraw your request if you are not ready to continue with the loan process. If you haven’t decided on your next steps to recovery, keep SBA posted how to reach you. If you relocate, be sure to provide your current address and contact information to SBA.

  • Eligible entities may qualify for loans up to $2 million. 
  • The interest rates for this disaster are 3.75 percent for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years. 
  • Eligibility for these working capital loans are based on the size (must be a small business) and type of business and its financial resources.  

These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits or for expansion. Funds cannot be used to pay down long-term debt.

  • Complete copy, including all schedules, of the most recent Federal income tax return for principals, general partners or managing members, and affiliates (see filing requirements for more information)
  • If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year
  • A current year-to-date profit-and-loss statement
  • Additional Filing Requirements (SBA Form 1368) providing monthly sales figures (This is especially important for Economic Injury Disaster Loans)

  • Small businesses that submit complete loan packages could receive the money within three (3) weeks
  • Incomplete information and verification of collateral will delay the approval process

  • Currently the site is struggling with traffic load. We encourage everyone to access the site after peak hours (7 pm to 7 am MST)
  • Include the specific disaster in your application – specifically reference “COVID-19” or Coronavirus
  • Apply online vs by mail (Applying online is best)
  • Write your password down; neither the system nor any personnel are able to retrieve it
  • Save your work at every prompt
  • Do not rush through the application. Check and recheck the filing requirements to ensure that all the needed information is submitted. The biggest reason for delays in processing is due to missing information.
  • Make sure to complete all filing requirements before submitting the application and forms
  • Be sure to use the same contact information (business name and the name of all owners) that you use on your federal tax returns. Double-check that they match
  • If your tax returns reference other businesses that you own, you must also submit those tax returns in order to avoid processing delays
  • If more funds are needed, applicants can submit supporting documents and a request for an increase. If fewer funds are needed, applicants can request a reduction in the loan amount.
  • If the loan request is denied, the applicant will be given up to six months in which to provide new information and submit a written request for reconsideration
  • As you consider applying for the different federal funding sources available for Colorado businesses, the following information can help you make the best choices for your situation: 

    1) Federal funds carry program-specific restrictions and it’s important to know and protect your options. Review each program thoroughly. Your approval and acceptance of a loan from one federal program may cause you to be fully or partially ineligible for other sources of federal funding. 

    2) Different federal funding such as loans and grants from multiple agencies will roll out at different times, so it’s important to consider the timing of the funding source.   

    3) Federal economic disaster recovery loans are accessible right now for qualified businesses; however, no federal economic disaster recovery grants have been announced. Unfortunately, for businesses seeking immediate help, there is no way to predict which future federal tools – including grants – may be employed as COVID continues to impact the US economy. This can place businesses in the challenging position of weighing an immediate federal tool against the possibility of future programs that may or may not be offered, with requirements yet to be determined.   

     

    We are committed to sharing news of all new economic recovery resources (both state and federal) as they become available and are here to be your guide through this challenging time.

  • All Colorado counties are represented as being located in a certified disaster declaration area. Currently the site is struggling with the traffic load. We would encourage anyone who can to access the site after peak hours (7pm to 7am MST).

Statewide Resources

  • The Small Business Navigator is the first point of contact for new and existing business owners with questions about federal, state and local licensing requirements. The navigator also provides referrals to a variety of state and federal assistance programs and local small business training. In addition, the navigator maintains a comprehensive database of federal, state and local regulatory and permitting requirements. SMALL BUSINESS COVID-19 DISASTER RESPONSE HOTLINE: 303-860-5881 ((OPEN MONDAY-FRIDAY 8AM-5PM))
  • The Colorado SBDC Networking is regularly hosting webinars to guide you through the COVID-19 emergency response and preparedness.
  • Visit this website for the latest information for employers and workers. Website links include information on: - Paid Sick Leave for COVID-19 - Workplace Preparedness - Information from the Division of Federal Employees Compensation (DFEC)
  • Find details on the latest leave with pay rules and industry specifics.
  • The Colorado Department of Public Health and Environment is a great resource to keep up on the latest throughout the state of Colorado.
  • There have been a number of executive orders and public health orders released by the governor this month and the legal language used can be hard to understand. We have provided this information, written for the rest of us, about what they mean and who is affected.
  • Support CO Local is helping local businesses in Colorado sell gift cards in order for them to keep revenue coming in during their closure for the COVID-19.
  • Gov. Polis announced a statewide stay-at-home order beginning on Thursday, March 26 at 6:00 a.m. that will last until April 11, 2020. Businesses deemed as critical can remain open, but are subject to social distancing requirements. Click here for an FAQ and List of Critical Businesses
  • The resources at choosecolorado.com provide state and federal COVID-19 announcements, programs, and information relevant to Colorado businesses.
  • The Pikes Peak Small Business Development Center and the Pikes Peak Workforce Center have collaborated to provide our small business community the latest information in small business emergency response. Sponsored by the Colorado Springs Business Journal. We understand that as a small business, you may have already experienced economic injury. This panel will provide you with the latest resources and updates on small business support.
  • USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep our customers, partners, and stakeholders continuously updated as more actions are taken to better serve rural America.
  • Below is a list of resources that are generally available to Colorado tenants who may be struggling to pay some of their rent amid Coronavirus. The organizations are broken down by state, state nonprofit, county and city resources. The organizations in the list below are not affiliated with the Colorado Apartment Association or any of its subsidiaries.
  • Executive Order D 2020 017 “Ordering Coloradans To Stay at Home Due to the Presence of COVID-19 in the State,” and the corresponding Public Health Order 20-24 Amended Public Health Order 20-24 Implementing Stay at Home Requirements (PHO 20-24) exempt critical businesses. Please see PHO 20- 24 for the complete and current list of authorized businesses that are exempt.
  • Executive Order D 2020 013 “Ordering Colorado Employers To Reduce In-Person Workforce by Fifty Percent Due to the Presence of COVID-19 in the State,” and the corresponding Public Health Order 20-24 Implementing Fifty Percent Reduction in Nonessential Business In-Person Work and Extreme Social Distancing (PHO 20-24), require that businesses that do not meet the definition of a “Critical Business” reduce their in-person work by fifty percent (50%) to help mitigate the spread of novel Coronavirus 2019 (COVID-19).
  • Please consult the following lists for guidance concerning the “critical” versus “non-critical” designations of DORA-regulated professions and services in light of the COVID-19 crisis. Once you have located your professional license type, we encourage you to read any associated Executive or State-Issued Public Health Orders for further direction, and to be aware of the Statewide “Stay-at-Home” Order issued by Governor Jared Polis, effective March 26 through April 11, 2020, as well as any county or city specific health or “stay-at-home” orders. Other COVID-related communications and notifications, separated by profession, can be found on DORA’s website.

Federal Resources

  • This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). The Centers for Disease Control and Prevention (CDC) will update this interim guidance as needed and as additional information becomes available.
  • The U.S. SBA is offering designated states and territories low-interest federal disaster loans for working capital. Read about the process here. STATUS: Applications now open
  • Cleaning of visibly dirty surfaces followed by disinfection is a best practice measure for prevention of COVID-19 and other viral respiratory illnesses in community settings.
  • If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, tax, or charge of any kind, including the purchase of gift cards, please do not respond.
  • The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic - announced Treasury Secretary Steven Mnuchin today.- The news has been verified via multiple news agencies. The IRS site has not been updated. Secretary Mnuchin urged those getting a return to file now to receive their return as soon as possible.
  • Contracting
    If a situation occurs that will prevent small businesses with federal government contracts from successfully performing, they should reach out to their contracting officer and seek extensions before they receive cure notices or threats of termination.
  • The U.S. Chamber has compiled CDC’s coronavirus recommendations for businesses and workers across the country. We continue to encourage American businesses to follow data-based guidance from the CDC and state and local officials.

Business Interruption insurance normally covers the replacement of lost income when operations are halted during a natural disaster such as a fire. It covers operating expenses, a move to a temporary location, payroll, taxes and loan payments. The Coronavirus pandemic is uncharted territory and until we know more about what insurances companies should cover, here are some steps to advocate for yourself:

1. Ask your agent to file a claim with the carrier even if they tell you that your business is not covered.
2. When you receive the declination document, write a letter to the carrier and tell them why you are disputing the declination (be specific)
3. If declined again, connect with an independent insurance specialist and see if the next step should be to file a request for help with the Colorado Division of Insurance at https://www.colorado.gov/pacific/dora/ask-question-make-complaint-division-insurance

Several entities are starting grant programs to specifically assist businesses being affected by COVID-19. 

  • Grants up to $10,000 to small businesses - due April 4 at 11:59 pm ET
  • JPMorgan Chase announced a $50 million global philanthropic commitment to address the immediate public health and long-term economic challenges from the COVID-19 global pandemic. $8 million to assist small businesses vulnerable to significant economic hardships in the U.S., China and Europe.
  • The Colorado COVID Relief Fund’s purpose is to raise and coordinate allocation of funds based on prevention, impact and recovery needs of community-based organizations in Colorado. This Fund is organized to ensure that the most acute community needs across the state are being addressed and that community voice is reflected in all funding decisions made over time.
  • 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 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.
  • Join QuickBooks and GoFundMe as they combine forces to support small businesses across the country. Intuit QuickBooks is seeding this initiative with up to $1 million through a fund and employee-directed contributions.
  • The COVID-19 CO Creatives Relief Grant is a one-time payment to non-profit arts organizations in Colorado with an annual operating budget of less than $1 million.

As the news spreads about Corona Virus (COVID-19), many businesses have questions about whether they can shut down sites where the infection is present or conduct a preemptive shut-down of sites where there is no infection to safeguard the health of their employees. Businesses are asking, “will their employees be eligible for unemployment insurance benefits during the temporary shutdown”?

The answer is, if an employer stops work (for whatever reason), it is considered a layoff or partial separation. Employees during the temporary shut-down may file a claim to collect unemployment insurance benefits as job attached claimants. They would still be required to meet the eligibility requirements during any weeks they claimed.

Job Attached Layoff

Job attached means that you are expected to return to your most recent employer after a separation of up to 16 weeks. If you are job attached, your work-search requirements may be waived, but you must be available to return to work during this time frame. Union attached is the same except the union must find work for you within 16 weeks.

If your work-search requirements are not waived, keep in mind, we may conduct an audit of your claim up to two years from the start of your claim and you may be asked to provide your work-search documentation at that time. If you are unable to produce your work-search documents with all requirements met, you may be denied unemployment and may have to pay back any benefits already received for those weeks.

The Work-Share Program

Thinking of laying off employees? Consider the Work-Share Program.

The Work-Share Program provides an alternative to laying off employees by allowing them to keep working, but with fewer hours. While an employee is working fewer hours, he or she may be eligible to collect part of his or her regular unemployment benefits.

Requirements and qualifications for employers:

 

  • You must have reduced the normal weekly work hours by at least 10 percent, but by no more than 40 percent.
  • The reduction must affect at least two out of all employees in the business, or a minimum of two employees in a certain unit.
  • You must have paid as much in premiums as we paid your former employees in unemployment insurance benefits. See the rate notice mailed in November.

Colorado Gov. Jared Polis declared a state of emergency on March 10 to protect public health and our vulnerable populations and prevent the spread of the COVID-19 virus. In support of this goal, Colorado Tourism Office has suspended operations for all 10 Colorado Welcome Centers until further notice. All downhill ski areas and resorts in Colorado are closed, as well as many visitor attractions, museums, performance venues and retail stores. Please consult their website or contact them for more information.

Governor Polis has restricted Colorado restaurants and bars from providing dine-in service through April 15. Many restaurants have switched to delivery, take-out, curbside and drive through service to continue serving customers. Many hotels are providing room service. Some communities may have more specific health guidelines. Travelers planning a visit should check with their hotel or the local visitors bureau for guidance.

 

COVID-19 Recursos para Pequeños Negocios

Pikes Peak Region - Resources

  • Since August of 1980, Better Business Bureau of Southern Colorado has helped consumers find businesses, brands, and charities they can trust serving 25 counties throughout Southern Colorado. COVID-19, the disease caused by the novel coronavirus, is affecting people, businesses and communities around the world. Better Business Bureau reminds everyone to remain vigilant to avoid scams related to the virus, use necessary, common sense precautions when traveling, and find reliable sources to stay informed about what to do as the virus spreads. Visit your local BBB of Southern Colorado Website at https://www.bbb.org/local-bbb/bbb-of-southern-colorado .
  • The City of Colorado Springs will continue to provide essential government services while also implementing select modified operations to comply with orders and public health recommendations related to COVID-19. Those temporary changes are detailed on this site.
  • Downtown Colorado Springs shops and restaurants are taking extensive, diligent measures to provide a clean, safe and welcoming environment for customers. Downtown businesses remain open, and continue to provide a positive, safe and welcoming experience. Visit this site for #shoplocal ideas to support your downtown businesses and ALL businesses in the Pikes Peak Region.
  • The El Paso County Public Health department is keeping the public up to date on the latest via their website. Stay informed as small business owner and help stop the spread of rumors to reduce anxiety!
  • The Emergency Relief Fund for Non-Profits in El Paso and Teller County has been activated. Visit this site for more information.
  • The Pikes Peak Workforce Center is keeping tabs on any local, state, and federal resources to assist small businesses and their employees if they see themselves out of a job or without pay due to business economic loss or a quarantine. It’s a good time to utilize the workforce center for any upskilling of your current employees to other job duties as necessary. Contact the Business Relations Group at 719.667.3814 or BRG@elpasoco.com
  • The Pikes Peak SBDC provides a team of experts to provide free business consulting in financials, business continuity plans, marketing, legal, HR and numerous areas of support for your emergency plans.
  • COVID-19: Resources and Travel Recommendations
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