COVID-19 Business

  1. front-final_web

    Mask Law Posters for Businesses to Download

    Do you need a poster to hang at the entry of your business to let people know about the mask law in Aspen? You can download this version and print it out. Read on...
  2. business survey

    COVID-19 State Business Survey

    As part of an important state-wide effort, The Colorado Office of Economic Development and International Trade is asking Colorado business owners and managers to fill out a survey and tell us how you are dealing with COVID-19. Read on...
  3. cares act

    FAQ on Congressional CARES Act

    This document may answer some immediate questions. Read on...
  4. Covid business resource

    City Council Releases Business Information Packet

    On March 25, the City of Aspen released a business information packet to all business licensees of the City. The packet is a resource guide, which also includes a plan for each Council member to serve as a liaison to an industry sector in Aspen. Read on...
  5. covid comm meeting news flash image

    Watch the Community Meeting on COVID-19

    You can watch the meeting that aired on Thursday, March 26 at 2:00 p.m. for the community update meeting Read on...
  6. CC letter

    A Letter to the Community from Aspen City Council

    A letter to the community from Aspen City Council regarding COVID-19 Read on...
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  1. Small Business Loan Program
  2. Small Business Rent Grant Program
  3. General Business News
  4. Restaurant Information

City of Aspen Small Business Revolving Loan Program

Colorado Lending Source and the City of Aspen have partnered to create the City of Aspen Revolving Loan Program for small businesses. The Aspen City Council approved the creation of this fund to provide longer term, very low interest rate loans to busi­nesses located within the Aspen City limits, including the Aspen Highlands Ski Area, who have been impacted by the COVID-19 pandemic. The intent of these loans is to better support Aspen small businesses with Coronavirus relief needs during these challenging times.

Loan amounts up to a maximum of $30,000 are available under this program at a 1% interest rate over a four-year (forty-eight month) term, with no payments of principal and interest due for the first six months. Funds available under this program are intended to specifically assist with COVID relief efforts.

Applicants must have a valid City of Aspen business license or be willing to obtain one, and be current with all taxes, fees, utility pay­ments, etc. Formula stores are eligible to participate in this program if the owner of the local franchise resides in Pitkin County, including the City of Aspen, the Town of Snowmass Village, the Town of Basalt (Pitkin County portion), or the unincorporated portion of Pitkin County.

The only fee associated with receiving the loan is a $15 wire transfer fee, which will be withheld from loan proceeds at the closing when funds are transferred to the small business. The loan may be prepaid at any time without penalty. Personal guarantees from anyone owning 20% or more of an applicant small business will be required only on loans for $20,000 or more.

City of Aspen Small Business Revolving Loan Program Details:

Loans up to $30,000
1% interest rate
Four-year terms
No repayments of principal or interest due during the first six months
No prepayment penalties

More information and to apply: