Rep. Jason Crow Holds Webinar for Small Businesses to Help Address COVID-19 Needs

Yesterday U.S. Rep. Jason Crow (CO-06) held a small business webinar bringing over 150 small business owners and advocates together to answer their questions about the federal response to the COVID-19 crisis and highlight available resources. Crow was joined by Angela Atkinson, Executive Director of the North Metro Small Business Development Center, for the hour-long teleconference.

"Our economy is only as strong as our small businesses. While the CARES Act has allocated billions of dollars to help our small businesses, the next step is making sure we get those resources directly in the hands of small business owners," said Crow. "Our office will be working closely to connect small businesses with the resources they need and communicating the steps available to them as they weather this storm."

Two weeks ago, the Small Business Administration approved Colorado's eligibility for economic injury disaster loans, a designation that Crow pushed for in a letter to Small Business Administrator Jovita Carranza. Crow and the rest of the Colorado delegation also urged the Small Business Administration and the Treasury Secretary to immediately implement the new CARES Act loan programs for small businesses. Crow had also previously outlined recommendations to small businesses to help prepare to apply for these loans.

Legislation passed in early March makes $1 billion available to the SBA to authorize up to $7 billion in disaster relief loans to small businesses, small agricultural cooperatives, and nonprofits that have suffered substantial economic injury from the COVID-19 pandemic. If secured, loans can be for up to $2 million. A summary of resources available to small businesses is available here.

In Colorado, small businesses employ 1.1 million people or a one-half of the private sector workforce. The state is home to over 610,000 small businesses of which 15% are minority-owned.

The webinar is recorded and available here, where over 1,400 Coloradans have watched it thus far.