It was even worse in the pandemic. Plus: CSU’s economic forecast for the state, daily paychecks and it’s National Small Business Week!
U.S. Small Business Administration
Posted inEconomy
What’s Working: 44% of Colorado small businesses surveyed have put hiring on hold
But 44% of small businesses surveyed in Colorado have put hiring on hold.
Posted inBusiness, Climate, Economy, Environment, News, Outdoors
Glenwood Springs is still dealing with the effects of a long I-70 closure this summer. Federal aid is a lifeline.
After a year marred by disease and wildfire, Defiance Rafting just east of Glenwood Springs was having a gangbuster whitewater season this summer — so much so that owner Gregory Cowan planned to replace the 26 rafts that came with the business when he bought it three years ago. But the mudslides that closed Interstate […]
Posted inBusiness, Economy, Equity, News
12 charts that tell you everything you need to know about Colorado’s Paycheck Protection loans
Now we know. Denver breakfast chain Snooze made it through the first year of COVID-19 thanks to a $10 million Paycheck Protection Program loan. Snooze’s loan was forgiven on June 11, according to data provided by the U.S. Small Business Administration. Same with Intrepid Potash, a Denver fertilizer manufacturer that said it received full forgiveness […]
Posted inBusiness, Economy, News, Technology
What’s Working: Why there are at least 2,314 new technology jobs in Colorado
The number of Coloradans receiving unemployment benefits continues to decline as, presumably, people return to work. That doesn’t mean unemployment woes have vanished. Gaining steam in my inbox this week were people who said they were notified they had been paid too much and now must return money to the state. (More on overpayments below.) […]
Posted inBusiness, Economy, News
Colorado’s smallest small businesses can now get larger federal coronavirus loans
Samantha Wranosky thought she was all set. As the owner of Samantha B Design in Fort Collins, the graphic designer applied, was approved for and received her first Paycheck Protection Program loan on Feb. 9. She skipped the opportunity last year because she didn’t think she’d qualify for the federal relief loans, which were very […]
Posted inBusiness, Economy, News
Updated federal coronavirus loan program offers more relief, but not all Colorado businesses are eligible
Frisco restaurateur Bob Starekow got some devastating news last week. His federal Paycheck Protection Program loan came with unexpected strings. “My accountant informed me that due to the ‘income’ of the forgiveness portion of the PPP loan, I will owe $45,000 in taxes on phantom income,” Starekow, owner of Silverheels Bar & Grill and Kemosabe […]
Posted inBusiness, COVID, News
New form isn’t the “blanket forgiveness” some Colorado businesses hoped for in federal paycheck loan program
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, […]
Posted inBusiness, COVID, News, Politics and Government
Here’s the latest look at which Colorado businesses received Paycheck Protection Program loans — and how much they got
The number of Colorado companies approved for forgivable loans of up to $10 million declined in the six weeks that the federal Paycheck Protection Program loans were extended to drum up more interest among small businesses. Gone are the two Snappy Nails & Spa salons in Broomfield and Westminster after its owner said the loans […]
Posted inBusiness, COVID, News, Politics and Government
Colorado’s final count: 109,170 businesses approved for $10.4 billion in federal coronavirus loans
The portal to forgiveness has opened, and it’s looking very empty. Many banks that provided federal coronavirus relief loans to small businesses in Colorado are still waiting before jumping into the next phase of the Paycheck Protection Program, which stopped accepting applications on Saturday. The portal opened to lenders on Monday, even as more updates […]