Resources for COVID-19 Impacted Businesses

Latest COVID-19 Update:

The Coronavirus Aid, Relief, and Economic Security (CARES) Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed Congress and was signed by President Trump on Friday, March 27, 2020.  It includes an economic rescue package worth trillions of dollars in loans for companies and direct payments to workers, among many other measures.   Please consult your accountant and lender to determine the appropriate program for your unique situation.  To read an analysis provided by Brownstein Hyatt Farber Schreck, click HERE.

COVID-19 Business Impact Survey - Larimer County

Larimer county has created a survey for businesses to fill out so we can better understand the resources necessary during this Pandemic, and how it is affecting businesses.

Governor Polis Executive Order - Stay at Home

Governor Polis has issued a Stay-at-Home order for the entire state of Colorado. This order has taken effect at 6:00 a.m. today, March 26 and will be in place until April, 26, 2020, unless rescinded or modified by further Executive Order.

You can read the FAQ and  full list of critical industries listed by clicking here.

Larimer County Public Health - Stay at Home Order

Public Health Director Tom Gonzales issued a Stay at Home order requiring all individuals in Larimer County to stay at home except for food and essential services to further reduce the spread of illness in our community. The order is effective March 26th at 5PM through April 17th.

You can read the FAQ and  full list of critical industries listed by clicking their respective links.

The Economic Development Department at the City of Loveland would like to provide tools and support for our businesses during this challenging time.  All Loveland businesses will be impacted, and our goal is to meet this disruption with clarity, confidence and relative calm.  Our suggestion is to start tracking coronavirus related costs for any potential stimulus programs that may be forthcoming.

We would encourage all COVID-19 impacted businesses to utilize the resources below to help stabilize your business in these uncertain times.

Partner COVID-19 Resource Pages:

  • SBA Emergency Injury Disaster Loans (EIDL) Colorado small businesses impacted by COVID-19 can seek individual small business loans up to $2M as part of the Small Business Administration’s (SBA) Economic Injury Disaster Loan program. EIDL has a loan advance up to $10,000 that will not need to be paid back if spent correctly, but is a better program to cover lost revenue (besides payroll) to be paid back over a longer term (30 years at 3.75%).
  • The Paycheck Protection Program (PPP), one of the largest sections of the CARES Act, is the most important provision in the new stimulus bill for most small businesses. This new program sets aside $350 billion in government-backed loans from private banks that can, in some cases, be converted to grants, which means that if you meet the requirements you won’t need to pay the loan back.
  • Colorado Small Business Development Center COVID-19 has a hotline for small business owners to call with questions about how to apply: (303) 860-5881.
  • Colorado Lending Source has partnered with Kiva to create new 0% interest, 0 fee loans through the Kiva platform for US small businesses. Learn more by clicking here. If you have any specific questions, you can reach out to Rachael Sall (rsall@coloradolendingsource.org), who is the Kiva Hub Capital Access Manager.
  • Facebook Small Business Grants Program – Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses
  • COVID-19 FEMA Public Assistance
  • 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.
  • Colorado Department of Labor and Employment (CDLE) published emergency rules which temporarily require employers in certain industries to provide a small amount of paid sick leave to employees with flu-like symptoms while awaiting COVID-19 testing. More information here.

The Larimer County Economic and Workforce Development Department is counseling businesses that are laying off employees to encourage their affected staff to apply for Unemployment Insurance.

  • LCEWD is also encouraging these employers to give their affected employees written documentation of their date of layoff and that the layoff is related to COVID-19. When/if the Federal government provides additional unemployment benefit-supports this documentation should help smooth the process for these workers.
  • Additional Unemployment Insurance resources and a link to the application can be found here: https://www.larimer.org/ewd/job-seekers/unemployment-insurance 
  • CDLE Unemployment Insurance  If you work for an employer that closed or reduced your hours to help stop the spread of COVID-19, you can file or reopen an unemployment claim through the Colorado Department of Labor and Employment.
    • If your last name begins with the letter A – M, file a claim on Sunday, Tuesday, Thursday, or after 12 noon on Saturday.
    • If your last name begins with the letter N – Z, file a claim on Monday, Wednesday, Friday or before 12 noon on Saturday.

We will continue to share new information as it becomes available.  Please support local businesses to the best of your ability.  If you have questions or concerns, please contact any of the following individuals:

Kelly Jones, Economic Development Director, City of Loveland
kelly.jones@cityofloveland.org

Scott Schorling, Economic Development Manager, City of Loveland
scott.schorling@cityofloveland.org

Jack Hill, Business Development Specialist, City of Loveland
jack.hill@cityofloveland.org