COVID Resources

Small Business Administration (SBA) Disaster Loan Assistance

-Any federally insured bank or lender can access these programs for businesses, unlike normal SBA programs which require a partner lender. 


Economic Injury Disaster Loan (EIDL)-COVID-19: Apply-

  • Must have suffered substantial economic injury-can’t meet financial obligations or operate

  • Provides up to $2 million for operating expenses including working capital, inventory, equipment purchases, and real estate purchases. six months-collateral on loans greater than $25,000

  • Interest rates 3.75% for businesses, 2.75% for nonprofits

  • Credit checks

  • Loan payment deferred for 12 months

  • Businesses, 501(c)(3) non-profits, sole proprietors, and small agricultural coops and aquaculture

  • 30-year repayment plan

  • Small business owners and agricultural businesses with 500 or fewer employees are eligible to apply

  • Apply by Dec.31, 2021


Targeted EIDL Advance:

  • Up to $10,000 advance (funds are not paid back for businesses located in low income communities to ensure small business continuity, adaptation, and resiliency

  • Available for businesses who previously received EIDL Advance for less than $10,000 or applied but were unable to receive it due to lack of program funding

  • SBA will only reach out to provide Targeted EIDL Advance to businesses if they are located in a Census tract where the poverty rate is at least 20%, and if located in a metropolitan area the median income must not exceed 80% of the median income for the State or the metropolitan area. These businesses must also be able to show more than a 30% decrease in gross revenue during an eight week period beginning Mar.2, 2020 or later

  • Advance amount not deducted from forgiven PPP amount


                                                                                                                                                                                                                                                                                                                                                                                     Paycheck Protection Program (Available through Mar.31, 2021):

  • Up to $2 million loan to cover payroll and certain other expenses (from previous 12 months of payroll or 2019 calendar year payroll, takes average monthly cost and multiplies by 2.5, or if in Accommodations and Food Services sector, average monthly payroll multiplied by 3.5 up to $2 million), including vacation, parental, family, and medical leave, allowance for dismissal or separation, payments for group health benefits including premiums, retirement benefits, State or local taxes assessed on the compensation of employees, mortgage interest, rents, utilities, worker protection from COVID-19, and damage caused by looting and vandalism. Additionally, payments for any software, cloud computing, and other human resources needs will be covered. PPP will also cover payments for supplies pursuant to a contract, purchase order, or order for goods in effect prior to taking the loan that are essential to the business’s operations. Previous PPP loans can also be used for these same expenses provided they have not been forgiven first.

  • For self-employed persons and contractors, cap cannot exceed 2.5 times average monthly compensation up to $20,833

  • For seasonal businesses, average monthly payroll can be used for the period of Feb.12, 2019 or Mar.1,2019 to Jun.30, 2019. If not in business during this period businesses can use the period of Jan.1-Feb.29, 2020

  • 8-24 weeks loan term

  • If no employees are laid off, a portion of the loan is forgiven. Fully forgiven if loan is used for payroll and other eligible expenses with 60% of the forgiven amount going towards payroll. Forgiveness reduced if full time employees reduced or if salaries and wages decrease more than 25%. Forgiven amount not taxable income.

  • For loans less than $150,000  applicants can sign a one page certification that only requires them to provide a description of the number of employees who will be retained by the loan and the percent of the loan funds to go towards payroll

  • First Draw PPP Loan for new applicants, and those who did not receive loan forgiveness by Dec.27, 2020 and previously returned some or all of their PPP loan amount. Must have no more than 300 employees.

  • Second Draw PPP Loan for applicants who has or will use their full First Draw amount for applicable uses, has no more than 300 employees, and an demonstrate at least a 25% reduction of gross receipts from a quarter in 2019 to the same quarter in 2020.

  • No credit checks

  • For both Draws, loan forgiveness must be applied for within ten months after the last day of the covered period, otherwise the deferment of payment on loan will end.

  • Revised PPP Loan Forgiveness Application and instructions. This application doesn’t allow health insurance costs to be included in payroll, but allows for retirement costs and state and local taxes on employee compensation to be included. Safe harbor for reductions in employee and wages if business was unable to operate at full capacity due to CDC, OSHA, and HHS requirements or guidances established between Mar.1 and Dec.31, 2020.

  • EZ PPP Loan Forgiveness Application and instructions. EZ PPP Loan Forgiveness Application is to be used by self employed persons with no employees, employers that didn’t reduce the salaries or wages of their employees by 25% or more and did not reduce the hours of their employees, or employers who experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%. It requires less documentation.

  • 3508S Loan Forgiveness Application and instructions: This application is used for businesses that received $50,000 or less from the PPP

  • Interest rates 1% on unforgiven loan amount, five year maturity

  • Expenses made with forgiven amount are deductible from taxes

  • Available for businesses, 501(c)(3) non-profits, sole proprietors, farms, churches, 501(c)(19) veteran’s organizations, independent contractors, self-employed persons

  • Must have been in business as of Feb.15, 2020

  • Initially, PPP loans will be provided by Community Financial Development Institutions (CDFI), Minority Depository Institutions (MDI), Community Development Corporations (CDC), and Microlender Intermediaries before opening up to existing  SBA 7(a) lenders, Federally insured depository institutions, eligible non-bank lenders, and Farm Credit System Institutions on Jan.19

  • Find eligible lender and apply for First Draw PPP here, and apply for Second Draw PPP here

  • First disbursement of loan must be 10 days from application


SBA Debt Relief:

SBA will pay principal and interest for six months for current 7(a) loans (an SBA program that provides up to $5 million loans for expansion, renovation, and purchase of new equipment), section 504 loans (program that provides 90% of the financing for improvements or expansion of business), and microloans approved prior to Sep.27, 2020 capped at $9,000 per month.

  • For loans not on deferment, SBA will begin making payments with the next payment due on the loan and will make six monthly payments.

  • For loans currently on deferment, SBA will begin making payments with the next payment due after the deferment period has ended, and will make six monthly payments.

  • Payments will continue for loans approved between Feb.1 and Sep.30 of 2021

  • The Economic Aid Act authorized an additional three months of debt relief payments on principal and interest starting on Feb.1, 2021; eight months for underserved borrowers that were most affected by COVID-19

  • Waives borrower and lender fees with the 7(a) and Section 504 loan

  • Enhances microloan program in order to provide financial and technical assistance to businesses impacted by COVID-19

Express Bridge Loan Pilot Program:


Eligible lenders and forms to apply here

  • Allows SBA Express lenders to provide SBA-guaranteed expedited loans up to $25,000 for disaster-related purposes to businesses they already have a relationship with while they are applying for long term financing.

  • Must be unable to obtain some or all amount through other creditors on reasonable terms.

  • Must have been in operation as of Mar.13, 2020 and been adversely affected by COVID-19

  • Funds must be used for survival and/or reopening of business

  • Loan term of seven years, first loan disbursement within 45 days after lender’s receipt of loan number

Huerfano County Small Business Relief Grant:

The State of Colorado authorized the Small Business Relief Program (SBR) through Senate Bill 20B-001 on Dec.7, 2020. The program provides the Department of Local Affairs (DOLA) with $37 million to distribute to local governments to provide as grants to small businesses in areas affected by severe capacity restrictions. The deadline to apply is Feb.16th.


Grant amounts are based on 2019 receipts for sales or revenue and are separated into three tiers:

  • Less than $500,000 in receipts = $3,500

  • $500,000 - $1 million = $5,000

  • $1 million - $2.5 million = $7,000


Eligible Businesses:

  • Restaurants

  • Bars, Wineries, Breweries, Distilleries (includes businesses that have beer and wine license)

  • Caterers

  • Movie Theaters

  • Gyms and Recreation Centers



  • Provide receipts and/or expense/revenue documentation demonstrating a minimum of 20% decrease in annual revenue in 2020 compared to 2019 receipts OR is a business that opened between Jan.1st and Mar.26th of 2020

  • Currently operating in Huerfano County

  • Must affirm commitment to be in operation for next six months

  • Have a valid business license or Certificate of Good Standing with the Colorado Secretary of State (May be Certificate of Fact of Trade Name if sole proprietor or any other business such as a non-LLC that does not receive Certificates of Good Standing)

  • Affirmation that business has not received any funds from the Arts Relief Program or Minority Owned Business Relief Program authorized in SB20B-001

  • Affirmation that the business is in compliance with all public health orders (grant funds must be rescinded if business is no longer in compliance with State or local public health orders

  • Must have at least one employee or be registered as a sole proprietor

  • Must be a small business defined in SB20B-001 as having less than $2.5 million in annual revenue and be headquartered and operating in Colorado


Please Submit Applications to:  Dominic Elizondo, Business Resiliency Specialist, Huerfano County

Via Email:

Via Mail:  401 Main Street, Suite 201, Walsenburg, CO 81089

Email submission is preferred.  Applications may be dropped off to the County Courthouse Dropbox

Applications are on the Huerfano County Public Notices Section under DOLA Small Business Relief Grant-DOLA_Small_Business_Relief_Grant_Application.pdf (

Colorado Department of Labor and Employment (CDLE):


CDLE provides assistance for employees applying for unemployment benefits and work-share programs for businesses, where employees work 10-40% less hours for partial unemployment benefits, consultations on layoff-aversion and workshops for employees in transition. The CDLE also provides a list of other aid benefits from the CARES Act, including-

  • Employee Retention Tax Credit (ERTC)-A refundable payroll tax credit for the wages paid by employers to employees up to $14,000 per employee, if the business has seen a decline of 20% or more in gross receipts in any quarter of 2020 compared to the same quarter in 2019 and has 500 or fewer employees. Eligibility for the tax credit for a quarter ends if gross receipts are 80% what they were in the same quarter the previous year. In December 2020 this program was amended to allow applicants to apply the credit and also apply for the PPP, but the ERTC cannot cover the same payroll expenses as the PPP. Employers cannot apply for the ERTC and Work Opportunity Tax Credit for the same period. ERTC is also able to work as an advanceable tax credit to help with cash flow issues.

  • Temporary increases in the amount of interest expense businesses are allowed to deduct on their tax returns to 50% of taxable income for 2019 and 2020



USDA Rural Development 


Business and Industry Loan Guarantee: $1 billion in lending authority available for businesses, nonprofits, coops, federally recognized tribe, and individuals. Eligible areas have populations less than 50,000 and not in the urbanized area of the city or town. Business headquarters may be located anywhere as long as the project is in an eligible rural area. Business headquarters may be located anywhere as long as the project is in an eligible rural area. Businesses must have been in operation prior to Feb.15, 2020.

  • Funds may be used for working capital to prevent, prepare for or respond to the effects of the coronavirus pandemic.

  • The collateral value must be at least equal to the loan amount. Hazard insurance is required on collateral (equal to the loan amount or depreciated replacement value, whichever is less).

  • Participating lenders have 90% loan guarantee from the USDA

  • Maximum loan term is 10 years.

  • Loans must be repaid in full and amortized by the maturity date; balloon payments are not permitted.

  • Interest payments may be deferred in the first year; principal payments may be deferred for up to 3 years.

  • Interest rates are negotiated between the lender and borrower, subject to Agency review.

  • Rates may be fixed or variable.

  • Variable interest rates may not be adjusted more often than quarterly.

  • There is an initial guarantee fee equal to 2 percent of the guaranteed amount.

  • There is an annual renewal fee of 0.5 percent of the outstanding principal balance calculated at December 31 of each year.

  • Reasonable and customary fees are negotiated between the borrower and lender.

For more information on what lenders are participating in this program, talk to your creditor or contact the USDA Colorado office: 

Sallie Clark, State Director

Denver Federal Center

Building 56, Room 2300

PO Box 25426

Denver, CO 80225-0426

Voice: (720) 544-2903

Fax: (720) 544-2981

Colorado Relay: (800) 659-3656


USDA Coronavirus Guidelines


FAQ’s on food safety and access to food, as well as agricultural trade.

USDA Programs and Services Update: USDA’s Farm Servicing Agency is extending deadlines for farm loan applications, loan servicing actions (such as deferrals) and will cease loan accelerations. Other extensions and alterations for commodity loans, crop insurance, and disaster assistance can be found here.

For more information and assistance on applying for USDA programs, contact the Trinidad Service Center, 3590 East Main Street, Trinidad, (719) 846-3681


Colorado COVID Legal Relief


A partnership between the Colorado Attorney General’s Office, the Office of Economic Development and International Trade (OEDIT), and several private law firms to provide limited free legal advice for Colorado small businesses on COVID-19 by volunteer attorneys. Once you have applied, there is no guarantee an attorney will be able to assist you, and it may be two weeks before an attorney contacts you. The site offers free webinars that offer legal advice related to COVID-19 such as information on evictions, lease management, insurance asset liquidity, and loans. It also provides general COVID-19 resources from the SBDC, CDC, and the COVID-19 Business Hotline-a State resource for information and advice for small businesses dealing with the adverse financial affects of COVID-19.

Energize Colorado Gap Fund


The Energize Colorado Gap Fund will provide more than $25 million in small business loans and grants to boost small businesses impacted by COVID-19. Sole proprietors, businesses and nonprofits with less than 25 full-time equivalent employees can apply for up to a $15,000 grant and a $20,000 loan for a possible combined total of $35,000 in financial assistance for economic losses associated with COVID-19 due to stay at home order, voluntary closure, decrease in customer demand, or increased operating costs. Loan terms will be 24-36 months with interest rates of 0% and payment deferment for the first 4 months, 1% for months 5-12, and 1.5% after. The second round is open Oct. 5-26. Sign up to Energize Colorado's email list to be alerted when another application period opens. 


Examples of Eligible Expenses: 

  • Payroll costs

    • Increased workers compensation cost due to COVID-19 pandemic

    • Premium Pay

    • Hazardous duty, physical hardship in case related to COVID-19 pandemic

    • Overtime related to COVID-19 pandemic

    • Employee stipend if deemed necessary due to COVID-19 emergency provided on a reimbursement basis

  • Rent to mitigate COVID-19 impact

  • Equipment

  • Real property

  • Livestock depopulation deemed necessary for public health reasons

  • Programs to implement COVID-19 social distancing measures

  • Training to mitigate the impact for employees furloughed due to COVID-19

  • Inventory for items to mitigate COVID-19 impact


Documents that demonstrate economic hardship due to COVID-19 include

  • Bank records

  • Point of sale receipts 

  • Profit and loss statements

  • Tax filings 

  • Expense receipts



  • Small Businesses/Enterprises - Colorado sole proprietors and registered small businesses including LLCs, S-Corps and other business types.  

  • Nonprofits - Colorado nonprofits whose mission and/or programs directly support economic development, small businesses, or tourism.

  • Fewer than 25 employees - Applicants must have fewer than 25 full-time equivalent (FTE) employees prior to COVID-19. An employer may use its off-season employee count.

  • Impacted by COVID-19 – Applicants must be able to show the economic hardship their business is facing due to the COVID-19 pandemic.  

  • Must select what financial assistance your business has already received and demonstrate need beyond that assistance


Priority Given to Businesses Who Are: 

  • majority-owned by Black, Indigenous, People of Color, Veterans, or Women

  • In rural areas with a population of less than 50,000 people  

  • In the tourism sector 

  • With limited or no access to capital financing or other federal, state or local grants/loans


Energize Colorado will provide a mentoring program to assist in filing this application.  If you have reviewed the information available online and still have questions, reach out to the technical assistance team for help. They are available to answer questions or help prepare documentation ahead of time for when the application is released. 

 1-800-471-0628  (7 days a week 6 AM- 6 PM)


An applicant may apply for funding more than once. This may be considered if;

  • The financial loss from March 1, 2020 - time of application was less than $15k

  • Additional loan funds are desired


Office of Economic Development and International Trade (OEDIT) Alternative Sources of Funding List


OEDIT has provided a routinely updated Google Docs sheet of alternative sources of loans, grants, and other forms of financial assistance for Colorado businesses. The full list of resources can be found here.

There are hundreds of resources for all sectors of the economy, and from private and federal organizations, assisting in everything from credit card deferments to grants for restaurant employees and bartenders. Highlights of resources that may be applied for by Huerfano County businesses-

First Southwest Community Fund COVID-19 Response and Recovery Fund


Loans for rural businesses and non-profits affected by COVID-19.



  • Rural Colorado businesses and nonprofits, in towns under 50,000 in population

  • Businesses creating impact through job creation and retention

  • Businesses that will need additional capital to survive and re-start

  • Women-owned, minority-owned and veteran owned-businesses are encouraged to apply


Loan Terms:

  • Loan Size: $10,000-$100,000

  • Interest Rate: 3.5%

  • Length of Loan: 7 years (6 month payment deferral)

  • Use of Capital: Working capital and operating needs

National Association for the Self-Employed Growth Grants


Available to business owners who are a member. Must be in good standing three months before applying, can apply immediately if an annual member, after 90 days if a monthly member. Annual membership costs $120 while monthly membership costs $11.95 monthly at the most basic plans. Applicants can receive a $4,000 grant if they 

  • Demonstrate business need that can be fulfilled by grant

  • Provide detailed explanation of how they will us grant

  • Show how grant will improve business growth and success

  • Have supporting documentation such as a business plan 

Grant funds can be used for:

  • The purchase of new equipment or software

  • The funding of advertising, marketing materials or training

  • Any specific business need that a business lacked the finances to fulfill

Become a member here


Rocky Mountain MicroFinance Institute Business Builder Loans


Offers four types of loans throughout the stages of a business being developed, higher amounts available on successful repayment of smaller loans. 

  • Seed Loan (for feasibility testing): $500

  • Launch Loan: $2,500

  • Thrive Loan: $5,000

  • Growth Loan: $75,000

Eligible businesses have five or fewer employees and are in need of immediate capital of $15,000, household income must be less than sliding scale.

Interest rates between 8% and 12% with repayment periods of 6-24 months. Apply here

Colorado Lending Source and KIVA Hub Partnership


Provides 0% interest microloans up to $15,000. To apply, owners must-

  • Calculate monthly credit card payments, mortgage or rent, and other debt payments

  • Check credit score

  • Show proof of business-state filing or Employer Identification Number

  • Describe yourself and business

  • Outline what you will do with the funds and how it will help your business

  • Submit a photo of you and your business

Apply here

Farmer’s Emergency Fund:


Grant of $500 for small farms of less than 500 acres for immediate emergency expenses related to farm operations and daily necessities, including utilities, medical payments, farm labor, equipment repair,  or purchase of seed if suffered crop loss recently. Apply here.

eBay Up and Running Program


eBay is offering a program to small businesses who transition into online retail with benefits including-

  • No listing fees on up to 200 listings per month. Pay fees only when you sell.

  • Exclusive access to webinars led by growth advisors, coaching from top sellers and other premium learning opportunities.

  • Free access to the eBay Community group

  • Powerful selling tools and insights.

  • Access to eBay's 170M+ buyers worldwide.

 Access the program here.


Lowe’s-LISC Partnership Rural Relief Small Business Grant


The Local Initiatives Support Corporation (LISC) was provided  $55 million for a grant fund through Lowe’s to provide grants for COVID-19 relief for small businesses, $25 million of which is for small businesses in rural areas-defined as communities with 50,000 or less people. 

Grants from $5,000 to $20,000 for

  • Paying rent and utilities

  • Meeting payroll

  • Paying outstanding debt to vendors

  • Upgrading technology infrastructure

  • Other immediate operational costs

Applicants with multiple businesses must only apply for their largest business. May make separate applications for each round. Priority given to women, veteran, and minority owned businesses or businesses in underserved communities lacking access to flexible, affordable, capital.

Latest round opens Jan.26-Feb.2



Connect2Capital is a platform that connects businesses in need with non-profit community lenders with flexible terms. Businesses can request a certain loan amount for purchasing capital, inventory, real estate, refinancing debt, etc. , describe their business's vision and growth plans and be paired with a lender that is suitable for their business. Connect2Capital will provide technical assistance for applying for loans, as well as guidance during the underwriting process and preparation of final documents. If you cannot be matched with a lender, one will be paired to consult with your business and provide you with resources to prequalify.

Find Assistance Here



Kabbage is offering businesses the ability to create an account and sell gift cards from $5-500 for their business, with a unique URL to share to customers interested in purchasing one.

To create an account, go here

Colorado Lending Source Small Business Emergency Loans for Rural Colorado


$10,000 loans at 3% interest rates and two-year terms. Businesses must be located in a rural community. Payments deferred for six months. Apply here

SBDC Business Resiliency Guide and Materials

Small Business Resiliency Guide that uses critical resources, alternative resources available to businesses as well as their emergency response plans to formulate a contingency plan for hazards such as COVID-19. All business resiliency materials can be found here

Business Interruption Insurance

This is insurance that covers business income lost due to a disaster and is generally an addendum to your property insurance. The coverage period is generally defined as the date the interruption began to the date normal business operations resumed.  It covers operating expenses, a move to a temporary location, payroll, taxes, loan payments, and profits. Financial statements from previous months are used to justify amount of payout. Providers include Farmer’s Insurance, AP Intego, and Nationwide. Annual premiums are typically anywhere from $500-$1500. Unfortunately, business interruption insurance only covers physical disasters currently, but business interruption insurers are considering an option where by claims are made related to COVID-19 and are adjusted by the insurance provider to determine an appropriate payment. For example, the Hartford doesn’t specifically cover insurance claims related to COVID-19 but states “Every situation, however, will be evaluated on a case-by-case basis and reviewed based on the underlying facts, policy language and applicable law. If you believe you have a business interruption claim, you can file a claim online. 

It is important to discuss business interruption insurance with your property insurer to see if some form of compensation can be obtained for COVID-19 business interruption.

Spanish Peaks Business Alliance
c/o HCED

PO Box 308 Walsenburg, CO 81089.

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