Low-interest loans are available to small businesses in Western Colorado affected by the closures of Interstate Highway 70 through Glenwood Canyon.

Colorado Gov. Jared Polis said the U.S. Small Business Administration approved a disaster declaration for Mesa County as well as Eagle, Garfield, Pitkin, Rio Blanco and Routt counties in Colorado and Grand and Uintah counties in Utah.

“This additional funding will provide continued support to the small businesses affected by this devastating disaster,” Polis stated in a news release. “I thank our federal partners for fulfilling our request to help us build our roads back better and for their work to provide important relief to our small businesses.”

Isabella Casillas Guzman, administrator of the SBA, said her agency will help Colorado businesses affected by the closure of I-70 because of flooding, mudslides and rockslides in Glenwood Canyon. 

“We’re committed to providing federal disaster loans swiftly and efficiently with a customer-centric approach to help businesses and communities recover and rebuild,” Guzman said.

Nonfarm businesses, small agricultural cooperatives and private nonprofit groups could qualify for economic injury disaster loans of up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. Loans may be used to for accounts payable, fixed debts, payroll and other bills. Eligibility is based on the financial effects of the disaster.

The loans offer terms up to 30 years with an interest rate of 2.855 percent for small businesses and 2 percent for nonprofit organizations. The application deadline is June 16.

The Small Business Development Center at the Business Incubator Center in Grand Junction offers free counseling to help businesses recover. Call 243-5242 for more information or an appointment.

The SBA operates a virtual business recovery center to help businesses complete electronic loan applications and answer questions about the loan program and application process. Contact the center from 6 a.m. to 6 p.m. weekdays at (800) 659-2955 or FOCWAssistance@sba.gov.

Applications and additional information also is available from the website located at https://disasterloanassistance.sba.gov.