Paycheck Protection Program | UPDATE

  • The Paycheck Protection Program is a forgivable loan program to help small businesses, independent contractors, and nonprofits meet payroll and rent needs. Congress has just appropriated an additional $320 billion to this program.  These forgivable loans will be awarded on a first-come, first-served basis and child care businesses should contact their banking partners to apply for a PPP loan.  Several benefits and accounting platform partners (such as QuickBooks, Square, PayPal and Gusto) have become approved PPP lenders and may be a better place to apply for some small businesses. Congress also appropriated an additional $60 billion for SBA Economic Injury Disaster Loans (EIDL), which are low-interest recovery loans available to Colorado businesses.
  • For more information, please visit www.choosecolorado.com/covid19 or https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program. You can also contact the Office of Economic Development and International Trade (OEDIT) Small Business Navigator COVID-19 Response Hotline at 303-860-5881.
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