Small and Local Business

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.

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.

Bankruptcy Filings

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.