Coronavirus relief loans are available for small Colorado businesses. Here’s how to apply

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(Photo: MGN Online)

DENVER (KDVR) – Small business owners in Colorado affected by the coronavirus are eligible to apply for a low-interest loan from the Small Business Association (SBA).

Follow these steps:

Legislators made $1 billion available to the SBA with the ability to authorize up to $7 billion in disaster relief loans. The loans are available to small businesses, nonprofits and small agricultural cooperatives. Loans may be secured for up to $2 million.

U.S. Rep. Jason Crow encourages small businesses to take advantage of the loans.

“Colorado’s economy can’t thrive without small businesses. We need small business owners to have every resource at their fingertips as they work to stay afloat during the coronavirus outbreak and as we build a stimulus package, we must keep the fate of small business top of mind,” said Crow. “My office and I stand ready to help constituents navigate the SBA, take advantage of relief loans for the coronavirus, and fight for innovative solutions in congressional stimulus bills.”

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