5Star Bank is approved to offer various U.S. Small Business Administration (SBA) Loans
For information directly from the SBA, please visit: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
To talk to our SBA loan expert directly, please call Ralph Miller at 719.637.4025.
The Colorado Small Business Development Centers COVID-19 Small Business Response Resources
The SBDC is helping businesses statewide respond to the current health crisis. Learn more here.
Are you a restaurant owner? The Colorado Restaurant Association has a site dedicated to assisting you during the pandemic.
State of Colorado COVID-19 Business Resource Center
Find resources available for small businesses, nonprofits, freelancers and independent contractors here: https://choosecolorado.com/covid19/
Colorado Springs and El Paso County COVID-19 Information
The Colorado Springs Chamber & EDC has created a comprehensive website with consumer and business resources. Visit the site here.
City and County of Denver COVID-19 Information
This site offers consumers and businesses recovery guidance and planning, relief support and resources as well as Safer At Home and more inforamation. Visit the site here.
U.S. Chamber of Commerce - Combating the Coronavirus
Discover the latest resources, guidance, and insights to help Amercian businesses, workers and families here: https://www.uschamber.com/
Questions about your 2019 federal tax filing?
For consumers, visit: https://www.irs.gov/individuals
For businesses, visit: https://www.irs.gov/businesses
For information about your 2019 State of Colorado tax filing, visit this website: https://www.colorado.gov/pacific/tax/income-tax-deadlines
For Information about Unemployment Benefits in the State of Colorado
Please visit: https://www.colorado.gov/pacific/cdle/unemployment
FDIC FAQs for Bank Clients Affected by COVID-19
The FDIC has put together a document that will help our clients answer questions about bank operations, deposit coverage, access to your money, fraud prevention and more. You can read it here.
Posted 04/16/2020 - 5Star Bank’s Notice Regarding the SBA Paycheck Protection Program (PPP)
Our immediate focus is to serve our existing clients. If you are a current client of 5Star Bank, please reach out to your Commercial Banker for guidance.
Due to the overwhelming response, we are currently not accepting PPP applications from non-clients. We encourage those who do not bank with 5Star to reach out to your primary financial institution.
If you do not bank at 5Star and are unable to find a bank that can assist you, please email Cedric Buchanon at [email protected] with your name, company and contact information. We will add your name to a non-client list and get back to you if we can.
Posted on 03/20/2020 - SBA Economic Injury Disaster Loans Now Available in Colorado
Yesterday, we shared that Colorado’s application for federal disaster area designation has been approved. The SBA Disaster assistance provides low-interest federal loans for working capital to Colorado small businesses that have realized economic injury from COVID-19.
The BBB has provided an article showing step-by-step how to apply for these loans including who is eligible, who is not, what documents to have ready, who to contact, and more!
We encourage all businesses affected by COVID-19 to take a look at this article. There is help out there! If you want some support during this time, call us. As a community business bank, we are here to support businesses in our communities whether you bank with us or not. We can be reached at 1.800.776.2265 and we’ll get you connected to our in-house SBA loan officer!
Posted on 03/19/2020 - IMPORTANT NEWS FOR COLORADO SMALL BUSINESSES!
Colorado small businesses impacted by COVID-19 can seek individual small business loans up to $2M as part of the Small Business Administration’s (SBA) Economic Injury Disaster Loan program. Colorado small businesses throughout all 64 counties and on all tribal lands may seek SBA Economic Injury Disaster Loans.
To learn more about the application process, please visit the SBA website. If you need support in navigating the application process, please visit the Colorado Small Business Development Center COVID-19 website. There is also a hotline for small business owners to call with questions about how to apply: (303) 860-5881.
5Star Bank also has an expert SBA Lender on staff. Please contact Ralph Miller at 719.637.4025 or at [email protected] and we can offer your business guidance and assistance as well.