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Basalt Chamber Offers Small Businesses Guidance On Federal Assistance

Janie Joseland Bennett

Last week, the Coronavirus Aid, Relief, and Economic Security, or CARES, Act was signed into law. The $2 trillion COVID-19 rescue package includes what are called Small Business Administration, or SBA, loans. 

Kris Mattera, the Executive Director of the Basalt Chamber of Commerce, says there are two types of SBA loans. There’s the expansion of the existing Economic Injury Disaster Loan, or EIDL, program. These loans are available now and were used after Hurricane Katrina and the flooding in Boulder. 

Then there’s the new Paycheck Protection Program, or PPP, which will likely be released over the coming days. Mattera said it’s important for small business owners to know which one is right for them. 

“I would take the time to talk with your trusted financial professionals on what is best for you.” she said. “Work on getting all of your paperwork ready to go so that once that opportunity is available, you can be first in line because there is only so much funding available. This is a first-come, first-serve opportunity.” 

To find out more, visit the Colorado Small Business Development Center website, or the federal Small Business Administration website. The Basalt Chamber of Commerce also has additional resources on their website.

 

Eleanor is an award-winning journalist and "Morning Edition" anchor. She has reported on a wide range of topics in her community, including the impacts of federal immigration policies on local DACA recipients, creative efforts to solve the valley's affordable housing crisis, and hungry goats fighting climate change across the West through targeted grazing. Connecting with people from all walks of life and creating empathic spaces for them to tell their stories fuels her work.
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