- District 10
The bill creates the small business paycheck protection loan program (program). The program provides loans to eligible small businesses that have received a loan from the federal paycheck protection program, created in the federal "Coronavirus Aid, Relief, and Economic Security Act" ("CARES Act") and expanded in the "Paycheck Protection Program and Health Care Enhancement Act", and that continue to face economic hardship due to the COVID-19 pandemic. A loan issued to a small business may not exceed the lesser of 20% of the business's approved federal paycheck protection loan or $100,000. Each loan is deferred until the loan's maturity date and may be forgiven if the small business uses the loan solely for qualified purposes. (Note: This summary applies to this bill as introduced.)
No votes to display
|Bill Text Versions||Format|
|Fiscal Note FN1 (11/30/2020)|
|Fiscal Note FN2 (12/10/2020)|
Data on Open States is updated nightly from the official website of the Colorado General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.