Boulder County Small Business

COVID-19 Funding & Resources

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Description

Low-barrier, low-rate loans plus business coaching

Eligibility
  • Be a black-owned small business
Funding Amount

Loans between $1,000 and $50,000. 60-month term with 6-months interest only; maximum interest rate of 2.99% with flexible underwriting

Deadline to Apply

N/A

Description

A pool of $250 million that will be used to induce small business lending through participating banks. Loans will be fully underwritten and borrowers will need to meet acceptable credit criteria.  Intended for use as working capital with some exceptions.

Eligibility
  • Principal place of business is in Colorado
  • 5 to 99 employees
  • Two consecutive years of positive cash flow within the last 5 fiscal years prior to Feb 29, 2020
  • A debt-service-coverage-ratio of at least 1:1 prior to Feb 29, 2020
Funding Amount

$30,000 to $500,000, 1 to 5 year terms, up to 1 year payment deferment, up to 20% balloon payment, interest rates ranging from 2.45% to 2.95%

 

The fund will provide credit enhancements to the lending institution to facilitate the loan.

Deadline to Apply

Until funds are exhausted

Description

This is a grant program to provide general operating support. The grants can not be used for capital projects.

Eligibility
  • Be an arts-focused 501(c)3 organization or an independent component of a program associated with a college, university, or unit of government
  • Hold its primary business location in Colorado
  • Have supporting the arts as your organizational mission, including but not limited to visual, performing, literary and media arts organization
  • Have held public arts programs in Colorado for at least three years before the application deadline
  • Have a cash operating budget of at least $25,000 for the organization’s last completed fiscal year
  • Be registered in Good Standing with the Colorado Secretary of State and current with annual corporate reports and charitable solicitation registration
  • Be current in reporting for other Colorado Creative Industries grants or programs
  • Show collaboration, a mutual investment of funds or other resources to the activity with other organizations
Funding Amount

Funding amount is based on the organization’s operating revenue and ranges from $4,000 to $10,000.

Deadline to Apply

June 7, 2021

Description

This is a loan program with amounts ranging from $5,000 to $750,000. Interest rates will vary with a targeted average interest rate of 4% and terms of up to 20 years.

Eligibility
  • Open to for-profits and non-profits from a wide variety of business sectors including outdoor recreation, tourism, food services, hospitality and creative industries
  • To the extent permitted by federal law, will consider USDA-certified hemp businesses and value-added hemp manufacturing businesses
  • Special focus on underserved groups which include: minority, Native American, immigrant, women, disabled, veteran-owned and businesses in low income and rural communities
  • Underwriting criteria may include non-traditional items such as character-based lending
Funding Amount

Principal amounts of between $5,000 and $750,000

Deadline to Apply

N/A

Need help?

The SBDC has consultants available to answer your questions about COVID funding programs and help walk you through the applications. Request a virtual appointment below.

I'M NEW TO THE SBDCI'M AN EXISTING SBDC CLIENT

The COVID funding webpages have been created through a partnership between the Boulder SBDC and Boulder County Commissioners’ Office.

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ALERT!

DUPLICATION OF BENEFITS

Most of these programs have specific criteria on the allowed uses on any funds distributed. Businesses are advised to pay careful attention to these criteria. In addition, almost all programs do not allow a business to use funds from more than one program for the same expense or loss of revenue. This is known as “double-dipping” and may result in a demand for return of the funds along with penalties and interest.