PPP Loans Open Today to Self-Employed Individuals and Independent Contractors
Independent contractors and individuals who are self-employed can begin applying for the Paycheck Protection Program (PPP) today. Small businesses and sole proprietors began applying a week ago.
PPP provides potentially forgivable loans in amounts to cover 2.5 months of payroll or $10 million (whichever is less). To apply, we recommend contacting your current lender immediately. Lenders will prioritize current customers as they process applications. You can fill out the application online to bring to your lender.
We know current funding will run out. However, we are hearing from our Congressional delegation that more funding through future legislation is coming, so it’s still worth your time to apply.
To see more information about PPP, including the formula to calculate your loan amount, read our blog on the program’s official rule. To find out what lenders are participating, visit the Small Business Administration’s Find-a-Lender tool or see our list of member lenders.
You can also contact the Denver Metro Small Business Development Center at info@denversbdc.org or the Small Business COVID-19 Disaster Response Hotline at (303) 860-5881.
Denver Extends Property Tax Filing Deadline to June 15
Denver Mayor Michael Hancock announced that the 2020 Personal Property Declaration filing deadline will be extended from April 15 to June 15, as allowed by Colorado Gov. Jared Polis’ Executive Order. The city will also work with businesses to establish payment plans for delinquent business personal property taxes.
WorkLife Partnership Opens Up Resources to Certain Chamber Members Impacted by COVID-19
The WorkLife Partnership is opening up its employee navigation resources to Chamber members that are small businesses in the retail, hospitality or food and beverage industries. Businesses should be interested in seeking innovative ways to retain workers during this difficult time or have employees needing immediate hardship funding. Contact Cindy Williams at cwilliams@worklifepartnership.org to learn more.
Take the Chamber’s COVID-19 Policy Survey for Employers
The Chamber would like to provide guidance to both our state elected officials and our Congressional delegation regarding policy that could further assist employers and employees during this time or policy that could impact your efforts to keep employees on payroll and your organizations viable. While your individual responses will be kept confidential, we will relay the results of this survey to our elected officials to guide them and help set priorities.
Please complete the survey to share your organization’s perspective.
Other Resources
- View the Colorado Small Business Development Center’s graphic on the differences between PPP and Economic Injury Disaster Loans (EIDL).
- Read the U.S. Small Business Administration’s talking points on EIDL $10,000 advances.
- View the State of Colorado’s Stay-at-Home Guide.
Kelly Brough is the president and CEO of the Denver Metro Chamber.
