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Latest News, Data & Resources

As the state’s premier economic development resource, EDCC is compiling the latest news, data & resources for its members and their business communities, in response to the current outbreak of COVID-19 (Coronavirus)

Have a question or want to share insights on how your organization is adapting?

EDCC IS HARD AT WORK FOR YOU!

Economic developers and stakeholders are the leaders of our communities throughout the State of Colorado. You all play a vital role in providing the latest information and resources to your communities and help lay the critical infrastructure needed to resist the economic pressures. The Economic Development Council of Colorado has been collecting information, resources and case studies to help our members, businesses and communities answer tough questions during this unprecedented time.

This page will update daily with new resources and information as we make our way through this crisis. Be sure to visit this page often and connect with us through our forum (link above) if new information becomes available. 

DISASTER RECOVERY RESOURCES

ECONOMIC DEVELOPER RESOURCES
BUSINESS RESOURCES
  • The Colorado SBDC: The Colorado SBDC Network is here to help businesses who have been affected by recent disasters in Colorado including response to the current health crisis. Our consultants and partners including the SBA provide services to assist with disaster loan applications, long term planning, insurance navigation, physical and economic loss estimations, business preparedness and more. MORE INFORMATION
  • SMALL BUSINESS COVID-19 DISASTER RESPONSE HOTLINE: 303-860-5881 (OPEN MONDAY-FRIDAY 8AM-5PM)
  • SBA AssistanceThe U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). All 64 Colorado counties are now eligible to seek federal recovery loans through the U.S. Small Business Administration Economic Injury Disaster Loan Program. APPY HERE
  • Connecting Colorado: Calling all Job Seeker and Employers! This is the state’s premier workforce tool. CLICK FOR MORE INFORMATION
  • Startup Colorado/OEDIT Weekly Informational Calls | 3-ways to participate:
    >> Download the Zoom app on your computer, tablet, or phone.
    >>WATCH LIVE on Choose Colorado YouTube Channel
    >> ACCESS RECORDING LATER on the same YouTube ChannelNortheast: Fridays, 3pm
    Call Host: Lisa Hudson, Director, Northeast SBDC
    Zoom Video & Audio
    Dial-in: 346-248-7799 / Participant ID: 914379684Southeast: Fridays, 2pm
    Host: John Wittler, Regional Coordinator, Ogallala Commons
    Zoom Video & Audio
    Dial-in: 346-248-7799 / Participant ID: 367293321Northwest: Fridays, 1pm
    Host: Erin McCuskey, Director, Northwest SBDC
    Zoom Video & Audio
    Dial-in: 346-248-7799 / Participant ID: 863837735

    Southwest: Fridays, 12pm
    Host: Bonnie Watson, Transaction Advisor, Telluride Foundation
    Zoom Registration

  • HelpCONow.com: The state is looking for volunteers and donations to help at-risk individuals across our state get through the COVID-19 crises.
  • GROWL Connex: a weekly webinar providing businesses resources, information, comradery, and connection. Follow @GROWLAgency on social media for more information
  • Alternative Sources of Funding: A Google sheet to help CO’s small businesses find alternative funding sources beyone EIDL, PPP and other federal loans and programs
  • COventure Foward powered by CU: making resources available to help entreprenuers and small businesses through the COVID-19 crisis. Support through mentors, insights provided by faculty, and student support on projects.
  • ENERGIZE Colorado: PPE and supplies marketplace
RETAILERS INFORMATION & RESOURCES
EMPLOYER/EMPLOYEE RESOURCES
LOANS & FINANCIAL ASSISTANCE
  • CARES ACT: The Small Business Owner’s Guide to the CARES Act – Created by the House Committee on Small Business
  • Payroll Protection Program: Program Overview from the US Treasury
    >> Eligible businesses: All businesses, including charitable non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors, with 500 or fewer employees, or no greater than the number of employees set by the SBA as the size standard for certain industries
    >> Maximum loan amount up to $10 million or 2.5x average eligible monthly payroll cost, whichever is less.
    >> Loan forgiveness if proceeds used for payroll costs and other designated business operating expenses [mortgage/rent, utilities] in the 8 weeks following the date of loan origination (due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs)
    >> All loans under this program will have the following identical features:
    * Interest rate of 0.5%
    * Maturity of 2 years
    * First payment deferred for six months
    * 100% guarantee by SBA
    * No collateral
    * No personal guarantees
    * No borrower or lender fees payable to SBA
    >> Businesses who laid off employees will be eligible if they re-hire by June 30
    >> View the sample application by clicking here. You may view a top-line overview of the program from the US Treasury here. You can view a more detailed fact sheet about the program by clicking here.
  • Colorado Lending Source: CARES ACT Review
  • HelpCONow.com: The state is looking for volunteers and donations to help at-risk individuals across our state get through the COVID-19 crises.
  • SBA Loan – What you need to know: >> Learn how to Apply
    >> Disaster Assistance Details
    >> Guidance for Businesses
  • SBDCs are actively working with businesses to put together their loan packages, which can result in a shortened approval time. Find your local SBDC here.
  • USDA: Opportunities for Immediate Relief
  • American Farmland Trust is offering grants for small- and mid-size direct market producers
  • JP Morgan Chase Assistance to Small Businesses: JPMorgan Chase announced a $50 million global philanthropic commitment to address the immediate public health and long-term economic challenges from the COVID-19 global pandemic. $8 million to assist small businesses vulnerable to significant economic hardships in the U.S., China and Europe.
  • Colorado COVID-19 Relief Fund Grants: The Colorado COVID Relief Fund’s purpose is to raise and coordinate allocation of funds based on prevention, impact and recovery needs of community-based organizations in Colorado. This Fund is organized to ensure that the most acute community needs across the state are being addressed and that community voice is reflected in all funding decisions made over time.
  • Facebook Small Business Grants Program: Facebook announced a $100 million program to help small businesses as governments throughout the country urge gyms and restaurants to close their doors to slow the coronavirus pandemic.
  • El Pomar Assistance Fund: El Pomar Foundation announced the establishment of the Colorado Assistance Fund (CAF). CAF is a $1 million fund offering immediate aid to nonprofit organizations supporting Colorado communities, organizations and individuals affected by the recent outbreak of COVID-19.
  • Kiva Loans: The nonprofit organization Kiva provides 0% interest loans to small businesses worldwide. They are expanding eligibility and the amount of loans provided during this crisis.
  • QuickBooks and GoFundMe: Join QuickBooks and GoFundMe as they combine forces to support small businesses across the country. Intuit QuickBooks is seeding this initiative with up to $1 million through a fund and employee-directed contributions.
  • DOLA Property Ownner Preservation (POP) Program:  Nearly $20 million in federal CARES Act funding will be used to provide housing assistance, including rental assistance, mortgage assistance, and guidance on how to access other housing services to Coloradans facing financial hardship due to the COVID-19 pandemic.
EXAMPLES OF LOCAL BUSINESS ASSISTANCE & PROGRAMS
  • Denver: Small Business Emergency Relief Package – A city-wide program that addresses the most immediate needs of the business community. The program prioritizes those industries who are most impacted by the coronavirus pandemic, such as the food industry, nail salons, barbershops, home childcare providers, and retail shops. Providing up to a $7,500 in cash grants to our most vulnerable, this program is designed to assist eligible small businesses that may have had to temporarily close, have difficulty with paying their rent and utilities, or have had to lay off staff.
    https://www.denvergov.org/content/denvergov/en/denver-office-of-economic-development.html
  • Grand Junction: Emergency Tax Relief – the City of Grand Junction declared a State of Emergency in order to stimulate the economy and support local business. All Grand Junction-based businesses may defer local sales taxes for February until July 31. Businesses who have already paid February local sales taxes may apply for a rebate.
    https://www.gjcity.org/city-government/financial-operations/sales-use-and-lodging-taxes/
  • Telluride Regional Loan Fund: a fund designated to work with entreprenuers to obtain financing through low-interest loans
    https://drive.google.com/file/d/16aFIgXhl9hKUGvBGVzehrHOp60DtyBsO/view?usp=sharing
  • Region 10 Small Business Impact Loans: loans that provide up to $10k for small businesses at a reduced interest rate of 4%
    https://region10.net/business-loan-fund/
  • Northern Colorado Regional Economic Development Initiative (NoCo REDI) Website dedicated to supporting NoCo businesses in one comprehensive informational website and response. https://nocorecovers.wpengine.com/
  • Aurora $1M Economic Relief Loan and Grant Program: This local program fulfills an immediate funding need for Aurora small businesses waiting for additional funding assistance from state and federal sources. Depending on the financial need, grants are available up to $5,000 or loans from $5,000 to $50,000 to help businesses retain jobs.https://www.auroragov.org/cms/one.aspx?pageId=16626445
  • Montrose Small Business Relief Package: cooperative marketing grants, small business emergency loan fund, sales tac deferral for Montrose small businesses https://www.cityofmontrose.org/732/Businesses-Resources
  • Longmont Partners Response Team: Downtown Longmont, Longmont Area Chamber of Commerce, Visit Longmont, City of Longmont, Workforce Boulder County, Boulder SBDC, Longmont EDP https://longmont.org/covid-19/
  • Fort Collins Small Business Relief and Recovery Loan Fund: Partnered with Colorado Lending Source to commit $110,000 to this effort and are working to expand the program which includes the following terms: Two-year loans for working capital, six-month at 0% interest and deferral of all principal and interest payments, and 2% interest and principal payments for months 7-24; Loan amount up to $10,000; Designated for new loans only.
  • Brighton EDC/Colorado Enterprise Fund COVID-19 Relief Fund: the city has invested $500,000 matched by CEF; available to Brighton businesses with 40 employees or less; intended to serve as a bridge or a compliment to SBA Relief Loan programs; avaialble in amounts of $25,000; 6-year terms, 6-months interest-only payments and quick turnaround when businesses have necessary documents ready. www.coloradoenterprisefund.org/brighton-covid-19-relief-loan/
  • Larimer County Recover Loan Fund: A new $5 million loan fund will be managed by the Colorado Enterprise Fund which includes $2 million in lending capital with initial lending capital provided by Bohemian Foundation. Additionals funds will become available through regional collaboration with local foundations, banks, municipalities, private businesses and individuals. https://coloradoenterprisefund.org/larimer-county-covid-19-relief-loan/
STATE of COLORADO INFORMATION & RESOURCES
  • OEDIT Business Resource Center
  • OEDIT COVID-19 DISASTER RESPONSE HOTLINE: 303-860-5881 (OPEN MONDAY-FRIDAY 8AM-5PM)
  • Manufacturer’s EDGE: Critical Supply List and other Resources
  • HelpCONow.com: The state is looking for volunteers and donations to help at-risk individuals across our state get through the COVID-19 crises.
  • Colorado COVID Relief Fund: is hosted by the State of Colorado and Mile High United Way. The fund will be overseen by a committee of community leaders from across Colorado and will be providing aid to support Colorado communities and organizations affected by the recent outbreak of COVID-19. Funds will provide flexible resources to organizations in our state working with communities who are disproportionately impacted by the outbreak.
PUBLIC HEALTH INFORMATION & RESOURCES

Public Health Information

Coloradans should stay informed and take simple preventive actions.

  • Frequently and thoroughly wash your hands with soap and water for at least 20 seconds. If soap and water are not available, use hand sanitizer with at least 60% alcohol.
  • Cover coughs and sneezes with a tissue, then throw the tissue in the trash, or use your inner elbow or sleeve.
  • Avoid touching your eyes, nose, and mouth with unwashed hands.
  • Stay home if you’re sick and keep your children home if they are sick.
  • Clean surfaces in your home and personal items such as cell phones, using regular household products.
  • FEMA: Guidance for COVID-19 preparedness
  • CDC: Getting your household ready for COVID-19
  • Be calm and prepared
  • Coping with Stress

Additional sources of information:

We along with our partners are here to support our local businesses and entrepreneurs during these very challenging times. We at the EDCC will do our best to communicate useful business resources, and provide support, to mitigate the impacts of this health situation.

At this time EDCC and its partners have postponed the Western Slope Reinvestment Tour and the Region 12 Economic Regional Forum

Gatherings:

To limit virus transmission, meetings should be conducted via telephone or video conferences whenever possible.

Telecommuting:

Where viable, the role of telecommuting should be discussed as a tool to maintain business continuity.

To best protect public health, the Colorado Department of Health and Environment is recommending that Coloradans follow the Center for Disease Control and Prevention (CDC) guidance released on March 16, 2020. The guidance states that the CDC “recommends that for the next eight weeks, organizers (whether groups or individuals) cancel or postpone in-person events that consist of 10 people or more throughout the United States.