Business Resiliency

As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. On this page, we are compiling relevant tips and resources on business resiliency.

Low interest loans, Nonprofit loan/grant programs
Colorado

Grand Junction Business Incubator

COVID-19 Responder Loans

The Grand Junction Business Incubator is providing funds for working capital, equipment and/or inventory to be used to directly support companies responding to the COVID-19 crisis. Loan amount up to $25,000. Repayment term: 12-60 months repayment based on ability to repay. Rate: prime +1% floating with a 4% flow. $250 flat fee. First payment waived for up to 90 days. Secured if collateral is available; personal guarantees required.

Audience:

Government loan/grant programs
National

United States Department of Agriculture

USDA Direct Farm Operating Loan

The maximum loan amount for this loan is $400,000. There is no down payment requirement. Interest rates are calculated monthly and are posted on the 1st of each month. The purpose of the loan must be essential to the success of the farming or ranching operation. The funds may be used to purchase equipment, seed, livestock, and other necessities. They can be used to refinance certain farm-related debts (excluding real estate). Repayment terms vary from 1 to 7 years. The length of the loan depends on the amount and purpose of the loan. Collateral is required.

Audience: Small Business Owners, Self-employed

Low interest loans
Colorado

Northeastern Colorado Revolving Loan Fund

Northeast Colorado Revolving Loan Fund - COVID Funding

Northeast Colorado Revolving Loan Fund is allocating $150,000 into a low interest program for those impacted by this disaster. NCRLF will offer loans at 4% for 36 months or less, with a maximum of $20,000 per business.

Audience: Small Business Owners

Local government loan/grant programs, State loan/grant programs
Colorado

Northwest Colorado Council of Governments

Northwest Loan Fund

The Northwest Loan Fund (NLF) offers business loans that will bring value to the local economy in the 9 Northwest counties we serve: Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt, and Summit. We are particularly interested new or growing businesses. We look for a mix of collateral, investment percentage, what the loan will be used for along with overall business sustainability. We can take a collateral position behind other lenders to encourage other lender involvement.

Audience: Small Business Owners

Government loan/grant programs
National

United States Department of Agriculture

USDA Microloan Programs

The focus of Microloans is on the financing needs of small, beginning farmer, niche and non-traditional farm operations, such as truck farms, farms participating in direct marketing and sales such as farmers’ markets, CSA’s (Community Supported Agriculture), restaurants and grocery stores, or those using hydroponic, aquaponic, organic and vertical growing methods.

Audience: Small Business Owners, Self-employed

Nonprofit loan/grant programs
Colorado

Colorado 30 Day Fund

The nonprofit Colorado 30 Day Fund provides forgivable loans up to $3,000 to small businesses in need. Working with other business leaders throughout the state, the Fund’s goal is to help save as many Colorado jobs as possible while small businesses await recently approved federal funding. The funds dispersed to small businesses by the Colorado 30 Day fund do not need to be repaid.

Audience: Small Business Owners

Low interest loans
Colorado

Neighborworks

Neighborworks Southern Colorado Small Business Emergency Microloan Program

Loan Limits: $1,000 to $20,000. Interest Rate: Option 1: 0% for a term of 6 months, Option 2: 2% term of up to 2 years. Term: 6 months to 2 years. Loan Fee: 3%; 2% origination, 1% loan loss reserve to the CHFA CCR Program. Repayment begins at 60 days.

Audience: Small Business Owners

Local government loan/grant programs, Nonprofit loan/grant programs
Colorado

Southeast Colorado Enterprise Development, Inc.

SECED BLF Facade Loan Program

Funds for: affixed signage, window lettering, store-front awnings, new windows, new entry door, exterior painting, other exterior improvements. Possible maximum loan amount of $5,000. 0% Interest for maximum of 3 years. Before and after picture to be submitted. Copies of receipts to be submitted after work is completed.

Audience: Small Business Owners

Local government loan/grant programs
Colorado

City of Grand Junction

Grand Junction Business Stabilization and Recovery Fund

On May 6, 2020, the City of Grand Junction established the Grand Junction Business Stabilization and Recovery Fund to support businesses impacted by COVID-19. Loans will be equal to the lesser of 50% of two-months of Approved Uses (see below) or $7,500 maximum. The fund will be administered as a revolving loan fund. Loans may be forgivable subject to approval and performance by the borrower on the terms and conditions that follow.

Audience: Small Business Owners

Colorado

Colorado Mountain College

Colorado Mountain College Back to Business Consulting

In an effort to aid our local businesses and business professionals, Colorado Mountain College is offering no-cost coaching, live educational trainings and consultation services to in-district businesses (see CMC District Map) during this time of need. CMC Faculty are ready to support you in this time of need. Through connection to faculty, we are able to provide personalized answers to your questions, link you to resources and provide tools to get you back to business. CMC is offering free educational training and live webinars to get you back to business.

Audience: Small Business Owners, Self-employed, Non-profits

Pages