DENVER (KDVR) – The Colorado House passed two bills that would establish small business grant and loan programs on Monday.
Both bills would use funding from the Colorado Comeback State Stimulus plan that passed with bipartisan support in March.
HB21-1302 would provide funds for businesses hit hard by the pandemic. The vote was 41-23 in favor of the bill.
“By investing in rural, minority-owned, veteran-owned and women-owned businesses across the state, the Energize Gap Fund will provide robust, targeted economic relief where it’s needed most,” said Rep. Leslie Herod (D-Denver).
“As the summer draws near, our vaccination program continues its successful course and necessary public health protections are relaxed, Colorado’s small businesses are due for a comeback,” said Rep. Lindsey Daugherty (D-Arvada).
HB21-1288 would create a loan program for small business startups. The bill passed by a vote of 40-24.
“The pandemic has impacted businesses in so many different ways, and by creating a flexible loan fund, we can help entrepreneurs and business owners who need access to capital to start, restructure or grow their businesses,” said Rep. Jennifer Bacon (D-Denver).
“The Colorado Comeback State Stimulus plan is focused on helping Colorado recover faster and build back stronger, and that’s what the startup loan fund will do by boosting support for entrepreneurs looking to create or expand their business,” said Rep. Monica Duran (D-Wheat Ridge).