How to Prepare for Future Stimulus Funding
As Colorado awaits the anticipated second round of federal funding to reopen applications for the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL), the Small Business Development Center recommends you continue preparing to submit an application. Consider these steps:
• If your PPP loan was already in the queue at a bank, check in with your lender to ensure all paperwork is correct and in place.
• If your EIDL application was already submitted, check the status of your application by contacting SBA at 1-800-659-2955 or email@example.com.
• If you have not started working with a bank yet, research available lenders to identify your potential provider. Find an eligible lender.
• Self-employed, sole proprietors, independent contractors should confirm that their bank is working with their business structure.
• Set up a business bank account if you do not have one. This will be necessary to receive relief funds.
• Prepare your paperwork, including average monthly payroll calculation (inclusive of eligible health care and retirement contributions).
• Create a plan for the use of funds over the 8-week period.
• Ensure that the 8-week disbursement plan complies with approved program expenditures to maximize your loan forgiveness.
• Reach out to your accountant for guidance and support to resolve any lingering questions that could delay your loan application when the lending windows open with additional Congressional appropriations.
CARES Act Unemployment Benefit Applications Now Open
The Colorado Department of Labor and Employment (CDLE) has begun taking unemployment benefit applications under the CARES Act, paying the additional $600 per week in unemployment benefits and launch other new points of access for unemployed workers to obtain information.
This includes gig workers, independent contractors, self employed and those who are out of work because of other reasons directly related to COVID-19, including caring for a child whose school is closed or someone who tested positive for COVID-19. Self-employed and gig workers will need to provide their 2018 or 2019 tax return with their applications. View information about unemployment under the CARES Act.
Learn About Resources for Job-seekers and Employers
The State of Colorado has launched an online resource to help Coloradans who have lost their jobs connect to essential life services, such as food and shelter, retraining opportunities and jobs. Visit onwardco.org.
State of Colorado COVID-19 Small Business Survey Is Still Open
The state of Colorado is conducting a survey assessing the issues businesses face during this crisis. Take the survey.
Alternatives to PPP and EIDL: Funding Sources for Businesses
If your business already has a relationship with an SBA Express Lender:
Learn about the SBA Express Bridge Loans
Learn about SBA Debt Relief
The U.S. Small Business Chamber of Commerce Foundation extends a helping hand to small businesses suffering from the impacts of the coronavirus pandemic. In partnership with Vistaprint and a coalition of supporting companies, foundations, and philanthropic donors, they are working to provide financial relief through the #SaveSmallBusinessFund. Learn about eligibility and apply today.
The Colorado Office Economic Development and International Trade (OEDIT) has compiled a list of available grants, loans, and other funding opportunities offered throughout Colorado and nationally. This list is continuously being updated, so be sure to check back frequently for additional resources. View alternative funding sources.
U.S. Chamber Foundation Launches Grant Program to Support Small Businesses
The U.S. Chamber Foundation will begin providing $5,000 grants to small employers. The Save Small Business Fund is in partnership with Vistaprint and funded through contributions from corporate and philanthropic partners. Grant applications are now open. For more information on eligibility, grant timeline and more, visit savesmallbusiness.com.
Join the Denver South Business Resource Slack Workspace to Connect with Neighboring Businesses in Your Industry
In partnership with the Denver South Economic Development Partnership, local cities, counties, and regional economic development organizations, we have created a Slack workspace to help businesses connect with one another.
Whether it be coordinating donations of PPE, exchanging resources to keep your business operating, asking questions on assistance programs, or just reaching out to support one another, the Slack workspace is intended to help by connecting you with businesses in your community. We have channels set up by industry.
It’s OK if you’re new to Slack, we’ll be sharing tutorials. Think of this Slack workspace as Nextdoor for businesses. Join the Business Resources Slack Workspace.
Sign up for Free Virtual Consulting with the Aurora South Metro Small Business Development Center
The SBDC offers free and confidential virtual assistance and guidance for your business during these challenging times. If you haven't already, sign up as a client at no charge with the Aurora-South Metro SBDC. Brainstorm ideas for marketing, financing alternatives, pivoting your business model and more. Virtual training opportunities are also available. Sign Up for Virtual Consulting.
Virtual Coffee with the SBDC Director
Join the Aurora-South Metro SBDC Director, Marcia McGilley, for a cup of “virtual coffee”. Join the webinar Friday, April 24, 9 - 9:30 a.m. Register today.
Bring your business questions and small business assistance needs during this challenging time. Discussion to include: updates on SBA funding, alternative funding sources, virtual consulting and workshops, and general business topics.
Check out additional CARES Act and COVID-related webinars.
American Hotel and Lodging Association Foundation Offering Free Hospitality Career Training
The American Hotel and Lodging Association Foundation is offering an opportunity for hospitality professionals to further develop their skills for free. Register for the complimentary online training through April 30.
Employees who are currently furloughed or laid off are eligible to apply for AHLEI certifications as long as they were employed as of March 1, 2020. All other certification eligibility requirements are still in place.
Centennial Rotary Club Announces “Meals for Medics”
After a brief but focused effort, the Rotary Club of Centennial delivered a first wave of hot meals to the staff of the Centennial Medical Plaza. Although Centennial Rotary has found several impactful ways to make a difference during this health crisis, none were more satisfying than the simple act of putting lunch in the hands of the medical personnel on the front lines.
In accordance with the Governor’s mandate, the Centennial Medical Plaza (CMP) is primarily an Emergency Room. Although there is construction underway to add 50 beds to their operation, they are nearly entirely focused on emergency and urgent cases. As such, they treat individuals who present with the symptoms of COVID-19 along with their typical flow of daily emergency cases. Their facility is adhering to the highest level of safety protocols, entry is restricted and no visitors are allowed. The CMP is not conducting any elective or routine surgeries. However, the number of urgent care cases has not gone away. Individuals still receive regular treatment/care for cancer, breast care, cardiac care, to name a few.
Although the staff at CMP is not seeing the tragic scale of loss of life which exists in major cities like New York, Boston and Chicago, the additional stress placed on their staff, from doctors to custodians, is major. Just the additional hours and processes required to merely be PREPARED for the exponential increase of ill patients has turned already busy schedules upside down.
Centennial Rotary Club teamed up with active member Jay Zheng to supply meals twice a week for at least the next 2 weeks. Jay and his wife, Xin are the owners of Volcano Asian Cuisine, well-known as simply Volcano in the DTC area. For several years and counting, Volcano has been a strong supporter of small business and heavily involved with local organizations in our community. Under the current Stay-in-Shelter order, Volcano remains open for take-out and delivery. They can be reached at 303-662-8111 or visit volcanoasiancuisine.com.
Denver South Regional Survey Still Open
Public policies that impact business are best crafted in close consultation with the business community and with special thought to regional consistency. This is ever more important during COVID-19. To help facilitate this dialog – between public and private organizations, and across jurisdictions – complete this 5-minute regional impact survey on how COVID-19 is impacting your business.
General Business Resources
Aurora - South Metro Small Business Development Center | Business Licensing & Registration | Arapahoe/Douglas WORKS! | Arapahoe Libraries Business Support Services
WANT TO KNOW MORE? Contact Centennial's Economic Development Division
Neil Marciniak, Economic Development Director | 303-754-3351 | firstname.lastname@example.org
Stewart Meek, Economic Development Specialist | 303-754-3410 | email@example.com
City of Centennial, 13133 E. Arapahoe Road, Centennial, CO 80112 | 303-325-8000