Governor Polis secures federal funding for small businesses after Glenwood Canyon mudslides

DENVER – Governor Jared Polis, the Colorado Office of Economic Development and International Trade, and the Division of Homeland Security and Emergency Preparedness have announced that the US Small Business Administration has responded to the request by Governor Polis to be assigned a declaration of disaster in Garfield, Eagle, Mesa, Pitkin, Rio Blanco and Routt counties following floods, mudslides, landslides and associated closures of Glenwood Canyon .

Businesses in these counties can apply for loans through the Economic disaster loan to offset the cost of this disaster to their business.

“We have taken immediate action to help Colorado residents affected by the Glenwood Canyon closures and this additional funding will provide continued support to small businesses affected by this devastating disaster. I thank our federal partners for responding to our request to help us rebuild our roads better and for their work in bringing significant relief to our small businesses, ”Governor Polis said.

Governor Polis issued claims for the Glenwood Canyon mudslides and request for federal emergency assistance rebuild the infrastructure of I-70, receiving funds one day after the initial administrative request.

Eligibility is based only on the financial impact of the disaster and not on actual property damage. These loans have an interest rate of 2.855% for small businesses and 2% for private non-profit organizations with terms of up to 30 years. Loans can be used to pay fixed debts, salaries, accounts payable, and other bills that cannot be paid due to the effects of the disaster.

EIDL Help is only available to small businesses when the SBA determines they cannot obtain credit elsewhere. A business may be eligible for both an EIDL loan and a physical disaster loan, with the maximum combined loan amount being $ 2 million.

The Grand Junction Small Business Development Center offers free, personalized advice to help affected businesses recover. Companies can contact the center by email [email protected], by calling 970-243-5242 or visiting the SBDC office from 8:00 a.m. to 5:00 p.m.

Visitors are encouraged to call first for an appointment. Businesses can also contact the Northwest Small Business Development Center at [email protected].

Applicants can apply online, receive additional information about disaster assistance, and download applications from the SBA website. For more information, please contact the SBA Disaster Assistance Customer Service Center.

Call 1-800-659-2955 (TTY: 1-800-877-8339) or send an email [email protected].

The deadline to apply for these funds through this disaster designation is June 16, 2022.

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About Christopher Easley

Christopher Easley

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