Colorado Corn: Small Business Funds Available

[Greeley, CO — April 2, 2020] On April 1st, the Small Business Administration (SBA) and U.S. Treasury Department began an unprecedented public-private mobilization effort to distribute funds to provide small businesses with the capital they need.

“This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Treasury Secretary Steven T. Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.”

The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.

“The devastating impact of coronavirus (COVID-19) has tested the will of millions of small businesses throughout Colorado and the nation, but help is on the way,” said SBA Regional Administrator Dan Nordberg. “By joining forces, and leveraging the power of private industry, the Paycheck Protection Act will provide businesses with the capital and certainty they need to retain their employees and continue serving our communities. I am deeply proud of SBA’s quick implementation of this critical program and look forward to working with our lending partners to provide the assistance necessary to support small business.”

Colorado District Office
721 19th Street Suite 426
Denver, CO
Phone: 303-844-2607

Colorado Corn is the name used to reference two organizations, Colorado Corn Administrative Committee and Colorado Corn Growers Association. While they share the same staff and office space in Greeley, they have distinctly different missions.
The Colorado Corn Administrative Committee (CCAC) oversees how Colorado’s corn check-off dollars (one penny per bushel of grain corn produced in Colorado) are invested in research, market development, outreach and other various endeavors.
The Colorado Corn Growers Association (CCGA) is comprised of dues-paying members who are politically active, focusing on policy that impacts corn producers and agriculture in general.
Learn more about the work of the two organizations at www.coloradocorn.com.

By Brian Allmer - The BARN

Brian Allmer & the BARN are members of the National Association of Farm Broadcasting (NAFB), the Colorado FFA Foundation, the Colorado 4H Foundation, the Colorado Farm Show Marketing Committee, 1867 Club Board Member, Denver Ag & Livestock Club Member, the Weld County Fair Board, the Briggsdale FFA Advisory Council, Briggsdale 4H Club Beef Leader & Founder / Coordinator of the Briggsdale Classic Open Jackpot Show.