The Colorado legislature passed 12 bills that appropriated $228 million in funding to support economic recovery efforts. As program details are finalized you can access updates at the COVID-19 Business and Nonprofit Resources page.
Programs with open applications:
CLIMBER Loan Fund
Applications are open. The Colorado Loans for Increasing Mainstreet Business and Economic Recovery (CLIMBER) fund provides $250 million to small businesses with working capital loans between $30,000 and $500,000. Below-market interest rates and a 1-year deferred payment option make the program a secure recovery option for small businesses.
Colorado Revolving Loan Fund
Applications are open. This fund provides loans that help small to medium-sized Colorado businesses negatively impacted by the COVID-19 pandemic. These loans range from $5,000 to $750,000. The loans are intended to provide startup and working capital that will help create and retain jobs across Colorado.
Programs with upcoming applications:
Colorado Community Revitalization Grant
Applications will open in July or August 2021. This program provides $65 million in gap funding for mixed-use projects in creative districts, historic districts, main streets or neighborhood commercial centers.
Colorado Arts Relief Grant
Applications will open in August 2021. This program provides $15.5 million in a second round of funding to support arts, cultural and entertainment artists, crew members, and organizations affected by the COVID-19pandemic. This program already provided $7.5 million in early 2021 in its first round of funding.
Rural Jump-Start Zone Grants
Applications will open in August 2021. Businesses that establish new operations in specified Rural Jump-Start communities will be eligible to receive up to $40,000, or up to $5,000 per new hire.
Disproportionately Impacted Business Relief Grants
Applications will open in August 2021. This program provides $1.79 million for grants to small businesses that have been disproportionately impacted by the COVID-19 pandemic.
Small Business Accelerated Growth Program
Applications will open in September 2021. This program, also known as Economic Gardening, will provide $1.35 million for technical development support to businesses with 19 or fewer employees.
Colorado Cannabis (Marijuana) Entrepreneur Program
Applications will open in fall 2021. This program provides $4 million in funding for grants and loans as well as technical assistance for entrepreneurs in the cannabis space.
Colorado Startup Loan Program
Applications will open at the end of 2021. This program provides $40 million to small businesses seeking capital to start, restart, or restructure a business. Loans and small grants will be made available through a host of lenders that work in communities throughout the state. OEDIT will work with community partners to reach underserved entrepreneurs and small businesses owners.
Disproportionately Impacted Business Technical Assistance
Applications will open in late 2021. This program provides $900,000 to support technical assistance for businesses that have been disproportionately impacted by the COVID-19 pandemic.
State Small Business Credit Initiative Applications will open in early 2022. As a part of the federal American Rescue Plan Act, the federal government passed the SSBCI bill to fund small business credit support and investment programs. OEDIT will submit its application to receive these funds in December 2021 to increase capacity of existing programs that provide access to capital for new and growing businesses.