The Coronavirus Aid Relief & Economic Security (CARES) Act offers federal guaranteed loans to businesses with fewer than 500 employees to cover payroll and other essential costs. We’re here to help you navigate through the complexities.

Small Business Paycheck Protection Program (PPP)

To be eligible, you must have a lending relationship with Farm Credit Southern Colorado as of February 15, 2020.

Fully Forgiven

Funds are provided in the form of loans and are eligible to be fully forgiven* when used for payroll costs (at least 75%), interest on mortgages, rent and utilities.

Keep or Rehire Employees

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or salaries or wages decrease.

Limited Availability

You can apply beginning April 3rd, 2020. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

We are no longer accepting PPP applications at this time.

Thank you for your understanding!

Frequently Asked Questions

The PPP loans up to $10M to eligible businesses to encourage them to retain employees.

Practically every small business, so long as you have fewer than 500 employees and you’ve been in business before Feb. 15, 2020.

(Nonprofits, sole proprietors, self-employed independent contractors are eligible.)

2.5x your average monthly payroll costs, up to $10m.

1% with two-year terms.

Loans are fully forgivable if all staff are retained for the next 8 weeks and at least 75% of the loan is spent on payroll. (The rest can be spent on mortgage interest, rent and utilities.)

Payroll costs are capped at $100K per employee, annualized.

You have until June 30 to rehire them. The sooner they get back on the payroll, the larger your loan forgiveness.

You’re still eligible for PPP.

As of this writing, that’s still being worked out. Most likely forgiveness on loan proceeds that go toward non-payroll costs will be capped at 25%.

Small businesses and sole proprietors can apply beginning April 3. Independent contractors and the self-employed can apply beginning April 10.

Contact your loan officer to see if your loan is eligible.

If your loan is eligible, click the apply now button to be redirected to our partner website, North Avenue Capital where you can fill out an application.

Download our extended FAQ here.

Or view the SBA’s latest FAQ’s here.

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. For more information visit or


Extended FAQ’s can be found here.

*For a loan to be fully forgiven, specific requirements must be met.

All financing is subject to credit approval and determination of SBA eligibility.