COVID-19 Resources for Businesses and Employers

Our professionals continue to proactively advise clients on COVID-19 directives and opportunities. We’ve gathered important COVID-19 business and employer resources to help you stay abreast of issues and directly access the most reliable sources. We will keep this page updated as changes occur. You can also stay up-to-date via our BLOG.

DISASTER LOAN ASSISTANCE

Small Business Administration (SBA) Funding for Small and Medium-Sized Businesses. There are two programs available to help businesses with disaster relief – the revised Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP). Both programs can be used; however they are not intended for the same purpose. Additional conditions and amendments may apply.

The PPP program ended May 31, 2021. The below links are for information only.

PPP “2” PROGRAM (Consolidated Appropriations Act 2021)

The Consolidated Appropriations Act of 2021 includes additional PPP loan funding. Eligible borrowers should talk with their bank to ensure it is participating in the program and regarding the application process. Additionally, we encourage borrowers to consult with their accountant for proper calculations and proceeds usage per PPP application and forgiveness criteria. The below links are to assist with general information only.

PPP LOAN FORGIVENESS INFORMATION

There are three PPP Loan Forgiveness Application forms: SBA Form 3508, SBA Form 3508EZ, and SBA Form 3508S. Borrowers should check with their lender to ensure they have the most recent PPP loan forgiveness application and instructions. The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Your Lender can provide further guidance on how to submit the application.

The SBA has launched a streamlined application portal to allow borrowers with Paycheck Protection Program loans of $150,000 or less through participating lenders to apply for forgiveness directly through the SBA. Your lender must be participating in this program in order for you to apply for direct forgiveness using the SBA portal. If your lender is not participating in the portal program, you must still apply for forgiveness through your lender. The questions asked on the forgiveness form in the portal correspond to those asked on SBA Form 3508S.

Here are the access links for the program. (updated 08/02/21)

ORIGINAL PPP LOAN INFORMATION

The original PPP loan program closed August 8, 2020. The below links are for PPP/PPPFA loan rules and loan forgiveness information only.

ADDITIONAL RESOURCES

SBA EIDL LOAN PROGRAM AND OTHER ASSISTANCE

This loan is only accessible through the SBA. The prior EIDL Advances are no longer available. Access the EIDL application and information HERE.

SBA is also providing assistance for those who already have an SBA loan and business relationship with an SBA Express Lender. You should contact your SBA lender for more information on these programs.

  • Enhanced Debt Relief assistance. If you already had an SBA loan in place prior to the Coronavirus pandemic, SBA is providing Enhanced Debt Relief assistance. The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

TAX DEADLINES AND PAYMENT EXTENSIONS

The Treasury Department, IRS, Colorado and other states issued guidance on both tax filing and payment relief. Here are the summaries.

FEDERAL AND STATE RELIEF PROVISIONS

FEDERAL

STATE OF COLORADO