Regional governing bodies obtained ARPA fiscal recuperation financing considering society and you may are working on precisely how to spend that money. Brand new totals as part of the stories and picture is actually estimates. Finally quantity, when they getting available. can differ. Less than is a listing of the top government COVID-19 rescue apps for the past couple of years, their objective and you can just what money Colorado acquired.
Providers guidance
Income Coverage Program (PPP): Under the CARES Act, the U.S. Small Business Administration rolled out a new lending program focused on helping small businesses keep workers on the payroll. It was the largest source of federal assistance extended during the pandemic, making 11.8 million loans worth nearly $800 billion.
PPP by yourself financing accounted for nearly one fourth out of government pandemic withdrawals in Colorado. Once a first bullet when you look at the 2020, the second you to followed for the 2021 with an increase of put-asides to have disadvantaged and incredibly small enterprises. Individuals which invested most the cash into the payroll expenses have loans converted into provides. An average number of services stored is actually cuatro for individuals providing financing off less than $150,000, if you’re those individuals delivering highest numbers saved normally 47 efforts. As of Feb. 20, regarding 87% away from PPP fund had been forgiven. Variations in PPP or any other SBA credit apps is actually an option good reason why particular counties performed better than someone else inside acquiring federal finance.
Economic Injury Emergency Funds and you can Enhances (EIDL): The SBA also provided advances and loans through its traditional emergency lending program, guaranteeing $361 billion in loans to 3.9 million borrowers nationally as of March 31, including $5.7 billion to 60,185 borrowers in Colorado.
Deja un comentario
