Disaster Loans Now Available to Colorado Businesses Affected by Wildfires
Low-interest federal disaster loans are now available to Colorado businesses and residents affected by wildfires that occurred September 6 through November 5, 2020. SBA acted under its own authority to declare a disaster following the denial of the state’s request for a major disaster on January 19.
The disaster declaration makes SBA assistance available in Boulder, Clear Creek, Eagle, Gilpin, Grand, Jackson, Larimer, Routt and Summit counties.
SBA has established a Virtual Business Recovery Center to provide personalized assistance to business owners. Customer service representatives will be available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application. The center is open Monday through Friday from 10:00 am-10:00 pm. It can be reached at 800-659-2955 or
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
The deadline to apply for property damage is April 26, 2021. The deadline to apply for economic injury is November 23, 2021.