Small and Local Business
What: Consumer spending is represented by the seasonally adjusted credit/debit card spending (7-day moving average) relative to January 4-31 2020.
Why: These figures are indicators of how much consumers are spending relative to early 2020. It reflects not only consumer confidence, in general, but also the circulation of dollars in the local economy through expenditures at local merchants.
Source: Affinity Solutions via Opportunity Insights Economic Tracker.Frequency: weekly, 1-week delayUpdated: 06/30/2021
Paycheck Protection Program Lending
What: The Paycheck Protection Program (PPP) was part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The program authorized $813.5 billion in forgivable loans to be used by small businesses for payroll costs, and most mortgage interest, rent, utility costs, and certain other expenses. Each of the two draws can cover up to 2.5 months of allowable expenses.
Why: Small business utilization of PPP loans provides a measure of how much of the Federal stimulus package was injected into the Northern Colorado economy.
Source: Small Business AdministrationFrequency: periodicallyUpdated: 05/03/2021
Restaurant Revitalization Fund
What: The Restaurant Revitalization Fund (RRF) was part of the American Rescue Plan Act. The program authorized $28.6 billion to provide funding to help restaurants and other eligible businesses keep their doors open. This program provided restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses.
Why: Utilization of RRF funds provides a measure of how much of the Federal stimulus package was injected into the Northern Colorado economy.
Source: Small Business AdministrationFrequency: quarterly, 3-month lagUpdated: 08/31/2021
What: The number of business and non-business cases filed in US Bankruptcy Courts measures the volume of bankruptcy filings in a 12-month period. The cases include those related to all chapters of the Bankruptcy Code - Chapter 7, Chapter 11, or Other.
Why: Bankruptcies are a measure of financial distress.
Source: US Bankruptcy CourtsFrequency: quarterly, 3-month lagUpdated: 01/05/2022