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Small Business Recovery Modifications

Concerning modifications to the small business recovery and resiliency loan program.

HB26-1003 2026 Regular Session Signed into Law Business & Economic Development

Cost estimates

At the first note read
$0
FACT January 22, 2026
At the last note read
Row printed, no figure
FACT July 14, 2026
What it actually cost
not published
No Colorado source reports spending for one bill

Every figure here is an estimate by Legislative Council Staff on the date shown, about the version of the bill in front of them that day. It is not a cost.

The appropriation

The note states no appropriation is required.

An appropriation is money the legislature sets aside. It is not money spent.

The appropriation field, read from the note: No appropriation is required.

Bill summary

     The act changes the purpose of the small business recovery and resiliency loan program (program) from supporting small businesses recovering from the economic crisis caused by COVID-19 to supporting Colorado's small businesses regardless of COVID-19 impacts.

     The act provides that money in the small business recovery and resiliency fund (fund) may be matched by participants in the program at a ratio of $1 of fund money for every $1 of money from other sources. Once the money from the fund is matched by other sources and comprises a tranche, the act specifies that the money from the tranche may be used for loans or to purchase participation interest in loans for businesses as determined by the program oversight board (board), including working capital and the purchase of equipment.

     The act allows a deferral of principal and interest payments on a loan made through the program for circumstances of hardship and repeals the requirement that the hardship must be caused by the COVID-19 pandemic or ongoing economic conditions.

     The act repeals a requirement that money from the fund must be proportionally reserved for applications from eligible borrowers located in a county based on the county's metrics related to small businesses, as determined by the board, for an initial period of time and that the money must be allocated to a county. Instead, the act requires each tranche of loan funding to be used to fund businesses across the state over the duration of the program and to maintain targets and support businesses located in rural counties and businesses owned by women, minorities, or veterans. The program will track the distribution of capital to counties.

     The act requires the state treasurer to transfer $5 million from the fund to the Colorado startup loan program fund on June 30, 2026.

FACT Bill summary by Colorado Legislative Council Staff, read 2026-09-23. Printed as published, word for word. Source: leg.colorado.gov (opens in a new tab)