Learn How to Apply for an SBA Disaster Loan

All Colorado counties are now eligible to apply for an SBA Economic Injury Disaster Loan by visiting DisasterLoan.SBA.gov.

Now that funding has been approved by the SBA for Colorado, the Aurora-South Metro SBDC will begin webinars on “How to Apply for the SBA Economic Injury Disaster Loan program. Check out Aurora-SouthMetroSBDC.com to register or join SBDC for a weekly “Virtual Coffee with the SBDC Director” to answer your business questions. This will begin Friday, March 27.

*Important note: The SBA is experiencing an unprecedented number of applications. If you begin your application and are having trouble, please know that access is being added one county at a time and may take some time. Please keep your sign-in and password to ensure you do not have to start over if you encounter problems. If you get kicked out of the application, wait 10-20 minutes and try again. Please review the following information to prepare your application:

Eligible Entities

• Applicants must meet the SBA requirements of a small business (500 employees or fewer)

• Businesses directly affected by COVID-19

• Businesses that offer services directly related to the businesses in the declaration

• Other businesses indirectly related the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product)

SBA Economic Injury Disaster Loans Details

• Offer up to $2 million in assistance for each affected small business.

• Eligible small businesses and private, non-profit organizations eligible.

• These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.

• The interest rate is 3.75 percent for small businesses. The interest rate for non-profits is 2.75 percent.

• SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

• SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

Ineligible Entities

Agricultural enterprises, religious organizations, charitable organizations, gambling concerns (ex: concerns that derive more that 1/3 of their annual gross revenue from legal gambling activities), casinos & racetracks (ex: businesses whose purpose for being is gambling e.g., casinos, racetracks, poker parlors, etc. are not eligible for EIDL assistance regardless of 1/3 criteria above.), and the cannabis industry.

Loan Approval Criteria

• Credit History: Applicants must have a credit history acceptable to SBA.

• Repayment: SBA must determine that the applicant business has the ability to repay the SBA loan.

• Eligibility: The applicant business must be physically located in a declared county and suffered working capital losses due to the declared disaster, not due to a downturn in the economy or other reasons.


• Eligible entities may qualify for loans up to $2 million.

• The interest rates for this disaster are 3.75 percent for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years.

• Eligibility for these working capital loans are based on the size (must be a small business) and type of business and its financial resources.


These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits or for expansion. Funds cannot be used to pay down long-term debt.


• Completed SBA loan application (SBA Form 5).

• Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.

• Complete copies of the most recent Federal Income Tax Return.

• Schedule of Liabilities (SBA Form 2202).

• Personal Financial Statement (SBA Form 413).

• Income, balance sheet, and cash flow documents.

• Other Information may also be requested.

SBDC Navigator Hotline

Have questions regarding assistance for Colorado businesses adversely affected by COVID-19? Please contact the SBDC’s Business Navigator Hotline via email at oedit_sbnavigator@state.co.us or by phone at 720-665-7439.

Alternatives to Laying Off Employees

Are you thinking you may have to lay off your employees? Consider the Work-Share Program. The Work-Share Program provides an alternative to laying off employees by allowing them to keep working, but with fewer hours. While an employee is working fewer hours, he or she may be eligible to collect part of his or her regular unemployment benefits. Learn more about requirements, benefits, and frequently asked questions. Learn More

Restaurant Workers & Bartenders Funding Resources

The restaurant industry is among the industries that are expected to be hit the hardest by closures and layoffs related to COVID-19. View this list of resources for restaurant workers and their families.

Restaurant Workers’ Community Foundation

USBG National Charity Foundation

Colorado DOL Work-Share Program

One Fair Wage Emergency Fund

CORE – Children of Restaurant Employees

A Letter from the Director of the Aurora-South Metro Small Business Development Center

The following letter is from Marcia McGilley, Executive Director of the Aurora-South Metro Small Business Development Center.

Dear Aurora-South Metro SBDC clients and partners,

Know that SBDC staff is there to support local businesses and entrepreneurs during these very challenging times. They will continue services without interruption and do their best to communicate useful business resources to mitigate the economic impact of this health situation.

Your health and safety are paramount, and the SBDC encourages you to read and follow best-practices for health care from your health care provider and various public health organizations.

Please see the steps the SBDC will be taking starting Wednesday, March 18:

1) One-on-One Consulting will continue by Phone or Online Technology --

The SBDC's free and confidential one-on-on consulting sessions will be conducted online, either by phone or over an online platform. You can set up these consulting sessions by reaching out to the office at 303-326-8686 to schedule a time, or email info@aurora-southmetrosbdc.com.

2) Classes will be presented with virtual technology, no physical attendees --

Currently scheduled in-person classes will not be held until further notice. However, beginning March 26th, our instructors will utilize virtual technology to remotely present the class to attendees. Attendees will need internet access to view the class and can ask questions/participate digitally. You can register for classes at our usual SBDC contact points. Watch your email for the class-specific links and instructions that will be sent out in your confirmation email before each class.

These temporary steps will be in place through Thursday, April 30, and beyond until further notice. Since we value the personal face-to-face interaction between clients and consultants, and between class attendees, we hope to return to our usual processes as soon as it is possible, but that decision will be based on recommended health and wellness best practices at that time.

Additionally, federal officials have announced plans for low-interest business loans, to businesses impacted by the COVID virus. This program will be managed by the Small Business Administration (SBA), a federal agency. Please visit this site for details: SBA.gov.

But, please note that although there is a “How to Apply” button on the SBA link, it may not be activated yet for this situation, because the disaster declaration process isn’t completed yet. Again, additional information will be communicated when available.

From past statewide experience with fire and flood disasters, it is recommend you gather key financial documents, if you think you might need to apply for a loan: the last three years of federal tax returns for your business; last three years of personal federal tax returns; personal financial statement; articles of incorporation; and a business plan with financial projections might be helpful, but probably not required.

Those with questions about COVID-19 can call the CO HELP Hotline at 1-877-462-2911. Other centralized resources are available at SBDC Economic Relief Resources (being updated with SBA information as released).

For Employers & Employees:

Information and Resources on Coronavirus

State of Colorado business resource:

A state resource for questions regarding assistance for Colorado businesses adversely affected by COVID-19: Business Navigator Hotline: 720-665-7439 or oedit_sbnavigator@state.co.us. If you have any questions, please contact the SBDC.

Warm regards, Marcia McGilley, Executive Director, Aurora-South Metro SBDC

Think Local: City Creates List of Restaurants and Bars That Remain Open

While a lot of restaurants and bars have closed to the public to help stop the spread of COVID-19, many are still up and running for services other than dining in. The City of Centennial supports our eating establishments in their efforts to provide delivery, walk-up, carry out, drive-through, or drive-up service. We encourage Centennial residents to see which restaurants and bars are still open by visiting the City’s Think Local web page: centennialco.gov/thinklocal. If you represent a restaurant, add it to our list by filling out this form.

Use the Hashtag #DoingMyPartCO

How is your business coping with the effects of the coronavirus outbreak? Do you know about businesses working together during this difficult time? Join the social media campaign that tracks positive actions during the coronavirus outbreak. If you know of a story of giving back during this time, please share it by using the hashtag #DoingMyPartCO or send an e-mail to Economic Development Director Neil Marciniak at nmarciniak@centennialco.gov

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 | nmarciniak@centennialco.gov

Stewart Meek, Economic Development Specialist | 303-754-3410 | smeek@centennialco.gov

City of Centennial, 13133 E. Arapahoe Road, Centennial, CO 80112 | 303-325-8000