The Denver International Airport (DEN) Commerce Hub is here to assist ACDBEs impacted by the COVID-19 pandemic.
The information provided on the Hub website is not legal guidance. The City and County of Denver and Denver International Airport provide no guarantee or assurance regarding the accuracy of the information below. All entities considering applying for a PPP loan or other relief should consult with a professional and review all applicable laws and regulations.
The Commerce Hub team is available to answer your questions. If you need assistance, we encourage you to contact our office at [email protected]com to submit a question or schedule a call.
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Administered by the Small Business Administration
The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. SBA is currently offering:
- PPP First Draw Loans for first time program participants
- PPP Second Draw Loans beginning January 13, 2021 for certain businesses who have previously received a PPP loan. For additional information on the Second Draw opportunities please reference the above Hub resource.
In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19.
The U.S. Small Business Administration announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021, pending the availability of funds.
Loans are offered at a variety of terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Funds can be used to pay for working capital and normal operating expenses.
Note that the EIDL Advance (Forgivable/grant portion from the EIDL) is no longer available.
You can find more information on the EIDL on the SBA website here.
While the Commerce Hub does not have resource guides for all the available federal funding opportunities, please review the Small Business Administration website for additional COVID-19 relief options.
https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
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