Gov. Polis asking for federal funding, emergency loans for small businesses in wake of coronavirus
The Small Business Administration has the authority to offer up to $2 million in low-interest loans to the small businesses negatively impacted by the virus.
DENVER — Gov. Jared Polis is seeking help for those who seem to be running out of it — particularly, small businesses — in the wake of the novel coronavirus outbreak.
Polis’ office announced Tuesday that the governor wrote a letter to the Small Business Administration (SBA) seeking federal funding, with the intention that it will provide some relief for Colorado’s small businesses. The letter specifically requests SBA Economic Injury Disaster Loans for Alamosa, Baca, Denver, Eagle, El Paso, Gunnison, Jefferson, Larimer, La Plata, Las Animas, Lincoln, Logan, Pueblo, Rio Grande, Routt and San Miguel counties, in addition to the Southern Ute and Ute Mountain Ute tribal nations.
The SBA has the authority to offer up to $2 million in low-interest loans to the small businesses negatively impacted by the virus. If successful, the letter could unlock billions in emergency loans for the businesses hit hard by the COVID-19 outbreak.
impacts of the virus, the Colorado Office of Economic Development and International Trade has made an effort to determine other avenues of providing financial aid through local, state and federal partners.
“We will get through this together and I urge the federal government to quickly approve our loan application so we can provide relief to the state’s small business community during this global pandemic,” Polis said in a news release.
This announcement comes on the heels of his news conference on Monday, demanding the closures of several of the states’ industries, including movie theaters, bars, restaurants and casinos.