Survive & Thrive COS provides funding in the form of low-interest loans of up to $25,000, to support resiliency and continue building healthy businesses and nonprofits. There are no stipulations for what the money can be used.
- For profit and nonprofit, privately held small businesses that:
- maintain a place of business in El Paso County
- incorporated with the State of Colorado
- demonstrate economic injury and a need for the loan
- Small business with the equivalent of 2 to 25 FT
- Applications are open only to small businesses most impacted by the COVID-19 pandemic, including, but not limited to:
- food industry
- hair & nail salons
- home childcare providers
- retail shops
- Independently owned franchises
- Installments are provided monthly over three months.
- Repayment occurs over three years
- Payments are not required for the first year
- No interest the first year
- Interest rates are tiered over the loan period to 1% the second year and 2% the third year
- Balance Sheet
- Character Reference
- If application initially approved, member of the Loan Review Committee will reach out for a 30-minute interview.
- Loan decisions will be made every Monday beginning April 6, 2020 and will continue for the following 90 days, or until funds run out.
- The first check will be distributed by the end the week that a decision is made.
For answers to questions, contact: email@example.com.