Paycheck Protection Program Resources
The Small Business Administration (SBA) Paycheck Protection Program (PPP) provides loans of up to $2 million to help small businesses during the pandemic. Applications are open through March 31, 2021, and we encourage our business members at Elevations to review their options to apply for PPP loans during this second round.
Because of forgiveness requirements for the second round of funding, we encourage businesses to contact their initial lender if they received funding during the first round.
COLORADO ENTERPRISE FUND
For first-time and second-time borrowers.
This local, nonprofit institution is now accepting applications for the PPP program from both first-time and second-time borrowers.
For those who borrowed with Kabbage in the first round.
Kabbage will accept second-round PPP applications from businesses who received a first-round PPP loan from Kabbage in 2020.
About PPP loan forgiveness.
According to the SBA, borrowers may apply for loan forgiveness after they have used all of their loan proceeds. To apply for forgiveness, borrowers should contact their lender to request an application for forgiveness.