September 30, 2022

Rocky Daily News

Colorado Politics-Sports-Business-Weather

Here’s how Colorado plans to dole out $104.7 million to small businesses

1 min read

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Colorado’s unemployment rate fell for the sixth straight month to 3.3% in July, the lowest (again) since the pandemic began but not quite down to its pre-pandemic low of 2.8%. However, a state economist thinks we’ll get back to that low rate, despite talk of recession, by the end of the year.

But first, last year’s $1.9 trillion American Rescue Plan keeps on doling out dough to Colorado.

The latest was announced Friday as U.S. Department of Treasury officials awarded Colorado up to $104.7 million as part of a program that started 12 years ago. Some of the funding will serve as collateral for small businesses that don’t have enough but need a loan. Most will be invested in the state’s venture capital funds — which expect returns and don’t rely on taxpayers. 

Called the State…

Tamara Chuang

2022-08-20 04:27:00

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