Months after the federal Paycheck Protection Program stopped taking applications for forgivable small business loans, banks and lenders are still unclear on how to forgive them. The new simpler form, released Friday, is supposed to make it less complicated for those who borrowed up to $50,000. But it isn’t as simple as some had hoped, […]
Colorado Bankers Association
Posted inCOVID, News
Cash or card? Coronavirus further shifted society away from currency, toward digital payments
As a young bartender reliant on tips, Josh Rivero developed an early affinity for cash and envisioned one day opening his own bar, complete with ATM, that would operate on nothing but legal tender. Times changed, and when he and his wife, Anna, opened the Fika Coffee House in 2008 in downtown Parker, he noticed […]
Posted inBusiness, COVID, News
With days left to apply for a Paycheck loan, there’s still more than $126 billion available to small businesses
With four days left to apply, there’s still $126 billion available to small businesses that could benefit from a forgivable loan, or at least a low-interest one, to recover from the havoc of shutdowns during the coronavirus pandemic. But are there any more businesses that want one? It’s been crickets at many Colorado banks and […]
Posted inBusiness, COVID, News
Paycheck Protection loans still available to Colorado small businesses as changes make them more tolerable
Changes to the federal forgivable loan program could start as soon as Friday and are expected to reinvigorate a $659 billion coronavirus relief program that stalled after small businesses worried whether the loans would really be forgiven. The new Paycheck Protection Plan amendment, signed Friday by President Donald Trump, extends the loan period to 24 […]