PIKES PEAK REGION BUSINES RECOVERY FUND
The Pikes Peak Region Business Recovery Team has been working for weeks in an effort to develop a program to aid businesses that have sustained physical and/or economic injury as a result of the Waldo Canyon fire. A number of businesses in the region have been impacted by the fire and are in need of assistance to get over the initial financial shortfalls they experienced due to evacuations in a peak business month and lost revenue from decreased customer traffic to their business.
In conjunction with key financial leaders in our community, the Pikes Peak Region Business Recovery Team was able to form a partnership with two non-profit lending organizations that are designed to deal with businesses in disaster related situations. These organizations have committed to provide designated loan funding for businesses in the Pikes Peak region as part of this effort. Through this program businesses will be able to access short term loans that offer a 12-month payment deferral plan and the elimination of any loan fees. This program allows businesses the opportunity to receive needed financial assistance with a 12-month window in which to get through another tourism/business cycle and get back on their feet.
To support this loan program the Pikes Peak Region Business Recovery Fund has been established under the umbrella of the Pikes Peak Community Foundation for the purpose of collecting donations that will be applied to paying down the loan fees and interest payments for 12 months for qualified business loans made by these lending partners.
Please consider making a donation to this important community effort to aid businesses in our region which can help eliminate more layoffs and future business closures.Please click here to learn more and to donate funds.
Information on how small businesses can apply for this loan is forthcoming. The Small Business Development Center will be sure to keep you updated as soon as this information is available.
The Pikes Peak Region Business Recover Team is a community-wide group represented by: The Greater Colorado Springs Chamber and EDC, Southern Colorado Business Partnership, Small Business Development Center, Better Business Bureau of Southern Colorado, Colorado Springs Convention and Visitors Bureau, El Paso County, City of Colorado Springs, City of Manitou Springs, Manitou Chamber of Commerce, Woodland Park Chamber of Commerce, Tri-Lakes Chamber and EDC, Town of Green Mountain Falls, Colorado Springs Utilities, Colorado Small Business Administration, Office of Senator Michael Bennet, and Rocky Mountain PBS.