COVID-19 Update

By April 17, 2020News
Upstate Colorado Economic Development

Upstate is working with our partners in municipalities across Weld. We encourage you to contact us directly if we can assist you with your efforts. As strategy is being developed to support economic recovery and open up some of our businesses we wanted to update you on current news and resources…

Preparing to Prepare for Phase 2 of the Pandemic Response

On Wednesday 4/15/2020, Governor Polis described the eventual move from Phase 1 of the COVID-19 response (“Urgent”) to Phase 2 (“Stabilization”) as we work together to prevent loss of life due to the Corona Virus. A key takeaway from this announcement was: “Within the next five days, the state expects the data and the science to determine what level of suppression the stay-at-home order has achieved. Also within the next five days, the state expects to have the data and science to determine what level of ongoing social distancing Coloradans need to strive for to effectively manage the future spread of COVID-19.”

Coloradoans should expect to see guidance from the state and localities on what that will mean for businesses and workers moving forward from the current stay-at-home orders. This guidance will likely not be based on strict timelines, but milestones in the ability to prevent virus transmission, test and trace cases, and keep our healthcare system functioning well for all who need medical care.

Non-PPP and Non-EIDL Options for Businesses

As of 4/16/2020 All SBA EIDL and PPP funding made available under the CARES Act has been exhausted. SBA and the U.S. Treasury are asking Congress to make additional funding available, as demand remains high. SBA Express Bridge Loan and SBA Debt Relief programs remain available.  Colorado OEDIT has a public spreadsheet with alternative funding sources.

Impacted Solopreneur? (Self Employed or Independent Contractor)

The CARES Act opened up Unemployment Insurance to these workers, but the details of implementation have taken a little time to roll out. CDLE has been working to get the existing UI tech infrastructure aligned with our new reality and will be hosting town halls to answer your UI questions. Sign up for the 9:30 AM Monday 4/20/2020 event, and follow the official UI website for continued updates and future town halls as they pivot to support the unprecedented influx of new and newly eligible claimants.

Still Looking for A Navigator? 

Upstate is working with our regional partners on NoCoRecovers.com which can help you find resources made available in NoCo for businesses. Can’t find what you need? Just ask, and a real person will reach out.

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