COVID-19 Funding and Resources for Small Businesses
Dear Colorado Arts & Culture Community,
The arts and culture sector is facing an unprecedented economic disruption due to the COVID-19 outbreak. On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs. Please take a look below at a list of SBA loans available to artists and arts and cultural nonprofits! Yes, that means YOU artists. P.S. Follow our Facebook Page for regular updates and information from across our industry.
COVID-19 Funding Opportunities
Paycheck Protection Program
Last Friday, lenders started accepting applications for the Paycheck Protection Program (PPP) for small businesses and sole proprietors. This Friday, April 10, independent contractors and self-employed will also be able to apply for a PPP loan. Many banks are struggling to handle the number of requests and are prioritizing existing customers. We urge you to reach out to your banks as soon as possible so you can submit your application quickly. We recommend that you first reach out to the bank that pays out your business’s payroll. Ask your bank if it is authorized to process your Paycheck Protection Program loan. If your bank is not authorized, you can find an eligible lender here.
Economic Injury Disaster Loans
The Economic Injury Disaster Loan and Loan Advance (EIDL) provides small businesses and non-profits with low-interest loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to COVID-19.
National Endowment for the Arts CARES Act
The National Endowment for the Arts announces the Coronavirus Aid, Relief, and Economic Security (CARES) Act which will award funds to nonprofit arts organizations across the country to help these entities and their employees endure the economic hardships caused by the forced closure of their operations due to the spread of COVID-19.
Colorado Artist Relief Fund Update
Due to an overwhelming amount of applications the Colorado Artist Relief Fund has been temporarily closed. In the meantime, individuals, foundations and organizations can contribute to the Colorado Artist Relief Fund and if foundations or corporations are interested in partnering on this initiative they should contact firstname.lastname@example.org.
COVID-19 CO Creatives Relief Grant
In response to the COVID-19 crisis, we have launched the COVID-19 CO Creatives Relief Grant. The grant is a one-time payment for general operating support to non-profit arts organizations in Colorado with an annual operating budget of less than $1 million. Priority will be given to small and mid-size organizations, particularly those working in under-served communities. Applicants must have received funding from Colorado Creative Industries in the last 5 years.
Colorado Face Mask Challenge
Hey, Colorado kids! We are excited to announce the Colorado Face Mask Challenge. What would you like your friends to see on a mask in your school, your neighborhood, at home? Some of the submitted designs will be featured on our Facebook page, and a select few will be printed on real face masks produced by Colorado companies!
Film, Television and Media Webinar Series
To address the need for community engagement and education during COVID-19 the Colorado Office of Film, Television and Media is partnering with industry leaders from across the state to bring timely, useful, and inspirational webinars to the creative film and media community. All webinars must be registered for in advance and if the date and time doesn’t work you’re in luck…all webinars are recorded and placed on the website afterwards for you to watch.
COVID-19 Business Resource Center
In today’s rapidly changing environment, the Colorado Office of Economic Development and International Trade is committed to sharing economic news and the recovery tools to help Colorado businesses. The website will be updated with new information as they receive it.
Colorado Creative Industries is a division of the Colorado Office of Economic Development and International Trade