CO HB1003

HB 26-1003: Small Business Recovery and Resiliency Loan Program Modifications

• Removes COVID-19-specific language from the program's purpose, broadening it to support Colorado small businesses generally rather than only those recovering from the pandemic

• Changes the required matching ratio from $4 private to $1 state funds down to $1 private to $1 state funds, making it easier to deploy loan tranches

• Eliminates county-by-county allocation requirements for loan funding, instead requiring statewide distribution with tracking of capital distribution to counties

• Expands hardship deferral eligibility by removing the requirement that hardship be caused by COVID-19 or ongoing economic conditions; principal and interest payments may still be deferred up to one year

• Requires the state treasurer to transfer $5 million from the Small Business Recovery and Resiliency Fund to the Colorado Startup Loan Program Fund on June 30, 2026