Federal relief for local small businesses
Information provided by the City of Castle Pines and the State of Colorado
With the approval of Colorado’s application for federal disaster area designation, Colorado’s small businesses impacted by COVID-19 can seek individual small business loans up to $2 million as part of the Small Business Administration’s (SBA) Economic Injury Disaster Loan program.
Mayor Tera Radloff issued a Declaration of Emergency for the City of Castle Pines securing access to funding for local businesses. These proactive steps ensure that business owners in Castle Pines receive access to loans with low interest rates, federal funding from FEMA and grant programs to prevent and alleviate damages, loss, hardship or suffering.
“Our small business owners are vital to our economy and a staple to this community,” said Radloff. “Our swift and aggressive action now will protect and ensure businesses in Castle Pines, who have supported our City, to receive uninterrupted access to necessary resources.”
The SBA disaster assistance provides low-interest federal loans for working capital to Colorado small businesses that have realized economic injury from COVID-19. Funding was appropriated through the U.S. congressional Coronavirus Preparedness and Response Supplemental Appropriations Act.
Small businesses, private nonprofit organizations, small agricultural cooperatives and small aquaculture enterprises can seek federal loans to pay key needs such as fixed debts, payroll and accounts payable.
“During this time of uncertainty, I ask that we come together and support our local businesses,” said Radloff. “They are a part of the necessary foundation that creates the quality of life in Castle Pines that we value.”
Businesses seeking relief can find eligibility information, loan application links and economic recovery resources at www.choosecolorado.com.