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
Colorado

CEDS

Sistahbiz Loan Fund

Application Process: Applications and loans are processed and serviced by Community Enterprise Development Services (CEDS). Loan Amounts: Financing ranges from $500 to $50,000. Flexible loan terms (time period to repay the debt) up to 5 years. Credit and Rates: 7% to 11% interest rates, pledged collateral and character-based lending model. Eligibility/Access: Participation in Sistahbiz coaching and training programs required in order to be considered for funds.

Audience: Small Business Owners, Self-employed

Financial planning
National

Credit Card Issuers Customer Assistance in Response to Coronavirus

As coronavirus (COVID-19) continues to incite global economic fears and threaten public health, credit card issuers are beginning to roll out assistance programs for cardholders who may be financially affected by the outbreak. And as more cardholders’ wallets across the country are affected, whether by a decline in business, reduced work schedules or other limitations to income, banks are responding by implementing assistance programs. These programs can both help you remain in good standing with your issuer in the short-term and safeguard your credit score from long-lasting effects.

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

Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs
Colorado

Pikes Peak Regional Development Corporation

El Paso County Business Loan Fund

The El Paso County Business Loan Fund Program is a source of capital for expanding businesses within El Paso County. Providing lower cost financing helps pave the way for small business owners to expand their businesses. The Business Loan Fund Program typically involves a private lender who may not otherwise provide complete financing. The public / private partnership can help smaller businesses finance their expansion, resulting in new employment opportunities.

Audience: Small Business Owners

Low interest loans
Colorado

Telluride Community Foundaiton

Telluride Regional Loan Fund

Provide working capital loans for business growth and expansion creating more and better jobs. Loans could be combined with other lending sources to create a robust financial package. Lending is designed to help businesses create a financial base that leads to bridging to commercial lending. Purpose of fund is to help company cover working capital expenses. $25,000-$100,000. Repayment Term: 36 month term w/balloon and 10 year amortization. Rate: base rate + 2% margin. Collateral: secured.

Audience: Small Business Owners

Low interest loans, Nonprofit loan/grant programs
Colorado

First Southwest Community Fund

First Southwest Community Fund COVID-19 Rapid Response and Recovery Fund

In partnership with ZOMA Foundation, Catena Foundation, and Gates Family Foundation, nonprofit First Southwest Community Fund (FSWCF) is establishing a $3 million COVID-19 Rapid Response & Recovery Loan Fund to offer affordable loans to rural businesses and nonprofits affected by the COVID-19 crisis, with the goal to protect jobs and invest in our communities in the short, medium and long-term.

Audience: Small Business Owners

Low interest loans, Nonprofit loan/grant programs
Colorado

Colorado Lending Source

Colorado Main Street Loan Program for Women-Owned Businesses

The Colorado Main Street Loan Program for women-owned businesses is an affordable, flexible, and friendly loan program available to women-owned (51% or more) small businesses located in Colorado. The program has been made available through the generous funding support of The Women’s Foundation of Colorado. Different loan amounts are available under this program up to $25,000 and all are repayable over forty-eight months (four years) at a fixed interest rate of 3.00% with no repayments of principal or interest due during the first six months of the loan.

Audience: Small Business Owners, Self-employed

Pivoting your business
Colorado

CRAFT Mentor Program

Colorado Rural Academy for Tourism (CRAFT) Mentor provides up to 50 free hours of mentoring for organizations or businesses wishing to advance a specific tourism-related goal or strategy. CRAFT Mentor exists to stimulate the development of high-quality cultural, heritage, agricultural and outdoor adventure tourism experiences for travelers in Colorado.
Duration: 50-hour timeframe determined by participant and mentor. Recommended for: Organizations, nonprofits, tourism-related businesses.

Audience: Small Business Owners, Non-profits

Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs
Colorado

Clear Creek EDC

Region 3 Micro-Enterprise Program

The CCEDC administers a Micro-Enterprise Loan Fund for small businesses with capital needs of less than $100,000. Funding for technical assistance is also available to develop solid business skills and improve the chance for success moving forward.

Audience: Small Business Owners

Low interest loans
Colorado

LEAF Loans for Cooperatives

Local Enterprise Assistance Fund (LEAF) is one of only three Community Development Financial Institutions (CDFIs) in the country with a focus on cooperatives. Submit an initial inquiry using the on the site. If you pass an initial screen, a member of their lending team will be in touch to schedule a call, where they will ask additional questions about financial goals, social mission, uses of funds, credit, equity, and collateral. If LEAF determines your business is not ready to apply at this time, they will work with promising candidates to help strengthen your application.

Audience: Small Business Owners, Non-profits

Local government loan/grant programs
Colorado

First Southwest Community Fund

1st Southwest Community Fund - Emergency Loans Fund - Telluride Region

As part of the Telluride Regional Loan Fund, we have dedicated funds to offer Emergency Loans to start-ups or for-profit businesses in the following counties: Dolores, Montrose, Ouray, San Juan or San Miguel. LOANS CAN BE USED FOR: Working capital; Business continuity. LOAN TERMS: Loan amount: $5,000-$10,000; 3% interest rate with 7 year term;
$100 fee; No payments for first 180 days.

Audience: Small Business Owners, Self-employed

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