COVID-19: Resources for Employers and Business Owners
COVID-19 is impacting businesses of all sizes and in all industries. We’ve gathered some helpful resources to ensure you can connect with aid that will help you navigate COVID-19. View the areas below to connect with relevant resources and programming.
Small Business Assistance
We know many small businesses have been hit particularly hard by the COVID-19 pandemic. These resources specifically are dedicated to helping small businesses determine options and assistance for moving forward.
General Guidance and Tips
Lending, Financial Assistance and Business Relief
- Federal Lending and Grants: The U.S. Chamber provides a helpful overview of all federal small business stimulus and aid programs.
- U.S. Paycheck Protection Program is an emergency and forgivable loan to cover monthly payroll and mortgage interest for up to 2.5 months. Loans will be forgiven if the employer either continues to employ its workers or rehires them when they reopen for business. Contact your current lender or banker to find out if they are part of the program. You can apply for the Paycheck Protection Program (PPP) at any lending institution that is approved to participate through the existing U.S. Small Business Administration (SBA) 7(a) lending program and additional lenders approved by the Department of Treasury. We recommend that you reach out to your existing lender as soon as possible to find out if they plan to participate in the program. In coming weeks we will share a full list of participating lenders. We recommend that you reach out to your existing lender as soon as possible to find out if they plan to participate in the program. In the coming weeks, we will share a full list of participating lenders.
- SBA low-interest disaster loans of up to $2 million are available to small businesses and nonprofits without alternative credit available. They can be used to pay fixed debts, payroll, accounts payable and additional bills that can’t be paid because of COVID-19’s impact.
- Express Bridge Loan Pilot Program allows small businesses that currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork.
- U.S. Chamber of Commerce Foundation Save Small Business Fund: The Save Small Business Fund provides assistance to small businesses and local chambers of commerce. The Chamber Foundation will distribute $5,000 grants to small employers in the U.S. and its territories.
- Colorado COVID Relief Fund: Nonprofit organizations, local government, school districts and limited small businesses can apply for grants of up to $25,000 if they meet specific criteria including organization type, population served and proof they meet a community-driven need through their programs and services within one of the priority areas of prevention, impact and recovery.
- Colorado Lending Source’s Resources for Lending: View funding options available to small businesses during COVID-19
- Coronavirus Tax Relief: The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
- COVID-19 Finance Assistance Network: Lew’s List in partnership with High Plains Advisors and Foundry Group have assembled a group of CFOs, Controllers, and other senior Finance professionals to help businesses survive.
- Facebook Small Business Grant Program: Facebook announced a $40 million grant program for the
United States to help the communities where our employees live and work. View details (available in Spanish).
- U.S. Chamber of Commerce’s Main Street Lending Program: As a result of the Coronavirus Aid, Relief & Economic Security (CARES) Act, the Federal Reserve has created the Main Street Lending Program to provide a total of $600 billion in financing for small and medium-sized businesses.
- U.S. Chamber of Commerce’s Independent Contractor Resources Guide Document: If you are an independent contractor or self-employed, you may be eligible for Paycheck Protection Program (PPP) loans/grants, SBA’s Economic Injury Disaster Loans (EIDL), and/or Unemployment Compensation for losses of income related to the coronavirus pandemic.
- Local resources: Check with your local government to find out if they are offering microloans or grants. Many banks are also extending loans, so check with your existing lenders as well.
Business-to-Business Offers and Resources