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:
- Collect the information you need to apply for the loan. You will need tax returns from recent years, balance sheets and additional documents.
- Fill out the SBA Disaster Business Loan Application
- Connect with the latest information by visiting the SBA’s coronavirus website, or calling 1-800-659-2955. You may apply online.
- Contact Colorado SBA offices in Denver or call 303-844-2607 for advice on about your specific case and filling out the correct SBA disaster assistance loan forms.
- Contact your local Small Business Development Center for additional information. Staffers encourage you to leave a message if not connected immediately.
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.”