{"id":806780,"date":"2020-04-24T15:22:36","date_gmt":"2020-04-24T21:22:36","guid":{"rendered":"https:\/\/www.summitdaily.com\/?p=382211"},"modified":"2020-04-24T15:22:36","modified_gmt":"2020-04-24T21:22:36","slug":"dillon-launches-small-business-loan-program-to-provide-aid-during-shutdown","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/ksmt\/local-news\/dillon-launches-small-business-loan-program-to-provide-aid-during-shutdown\/","title":{"rendered":"Dillon launches small business loan program to provide aid during shutdown"},"content":{"rendered":"<div class=\"p402_hide\">\n<figure class=\"wp-block-image size-large\">\n<div class=\"caption-container\"><img decoding=\"async\" src=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Elaine-Collins-Dillon-sign-1024x768.jpeg\" alt class=\"wp-image-382215\" srcset=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Elaine-Collins-Dillon-sign-1024x768.jpeg 1024w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Elaine-Collins-Dillon-sign-300x225.jpeg 300w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Elaine-Collins-Dillon-sign-768x576.jpeg 768w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Elaine-Collins-Dillon-sign-1536x1152.jpeg 1536w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Elaine-Collins-Dillon-sign-2048x1536.jpeg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\"><figcaption><strong>The welcome sign along U.S. Highway 6 at the entrance to the town of Dillon is pictured in mid-April. The town has announced that it will provide $250,000 in funding to help keep small businesses afloat during the coronavirus shutdown. <\/strong><br \/><em>Courtesy Elaine Collins<\/em><\/figcaption><\/div>\n<\/figure>\n<\/div>\n<p>DILLON \u2014 Help is on the way for small-business owners in Dillon.<\/p>\n<p>The Dillon Town Council approved a resolution to establish a new small business loan program during a virtual meeting Tuesday night, hoping to provide some financial relief for small businesses in town suffering from the statewide COVID-19 shutdown.<\/p>\n<p>\u201cWe\u2019re asking businesses to apply by the end of the month and trying to get a quick turnaround to get this money out to local businesses to help them ride out the storm,\u201d Dillon Town Manager Nathan Johnson said. \u201cWe\u2019re hoping as some of these restrictions start to alleviate, we can get back to some sense of normalcy. We don\u2019t know what exactly that will look like. It seems like it changes daily, but if we all work together, we can get through this.\u201d<\/p>\n<p>The town funneled $250,000 from its Sewer Enterprise Fund to finance the program, and eligible businesses will be able to get loans worth up to $10,000. To be considered for loans, businesses must be independently owned, have fewer than 50 full-time employees, be up to date on all permits and be located in town, among other criteria.<\/p>\n<div class=\"row\">\n<div class=\"col\" readability=\"6\">\n<div class=\"row sd-donation sd-donation-mobile p-0\" readability=\"7\">\n<div class=\"col-xl-4 p-2\">\n<div data-bg=\"url(https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/03\/SDN-logo-white-1.png)\" class=\"p-0 mt-2 mb-2 h-75 text-center rocket-lazyload\"><img decoding=\"async\" src=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/03\/SDN-logo-white-1.png\" class=\"logo m-0 p-0 invisible\"><\/div>\n<\/div>\n<p><h3 class=\"d-inline mr-3\">Support Local Journalism<\/h3>\n<p><button class=\"btn d-inline\" type=\"button\" onclick=\"handleDonationButtonClickMidArticle()\">Donate<\/button><\/p>\n<\/div>\n<p><\/div>\n<\/div>\n<p>Businesses will be required to pay back the loan within three years with a 1% interest rate, though the loans could be forgiven if businesses are able to maintain staffing levels based on a baseline of March 25.<\/p>\n<p>\u201cThe concern is that as we open up, some of these establishments \u2014 whether its retail, restaurants, general business \u2014 might not have the workforce there to bring back on,\u201d Johnson said. \u201cThose people may have had to go down to the Front Range or elsewhere to find employment. \u2026 What we\u2019re trying to do is incentivize businesses to maintain employees, so they can grow off that retention.\u201d<\/p>\n<p>Businesses must <a rel=\"noreferrer noopener\" aria-label=\"apply for the program by April 30 (opens in a new tab)\" href=\"https:\/\/www.townofdillon.com\/business-resources\/small-business-loan-program\" target=\"_blank\">apply for the program by April 30<\/a><i class=\"fas fa-external-link-alt\"><\/i>, and the town is expecting checks to start going out soon after in early May. Dillon\u2019s Marketing and Communications Director Kerstin Anderson said the town didn\u2019t want to \u201ctie businesses hands,\u201d so they will be able to spend the funds however they see fit to successfully stay afloat until restrictions are eased.<\/p>\n<p>And while it remains to be seen what kind of impact the loan program will ultimately have for business owners, officials believe it will serve as a helpful supplement to other efforts to support local businesses, such as the town\u2019s \u201c<a href=\"https:\/\/www.summitdaily.com\/togojams\/\">To Go Jams<\/a>\u201d series highlighting a different Dillon restaurant each week.<\/p>\n<p>\u201cWe want to make sure we\u2019re coming out of this maintaining a strong base for our working community so that we still have a thriving, sustainable community at the back end of this,\u201d Anderson said. \u201cAnd we\u2019re trying to provide support now for businesses that are desperately needing it. \u2026 We\u2019re just trying to think out of the box and look for ways \u2014 big and small \u2014 we can support our community.\u201d<\/p>\n<p><a href=\"https:\/\/www.summitdaily.com\/news\/dillon-launches-small-business-loan-program-to-provide-aid-during-shutdown\/\" target=\"_blank\" rel=\"noopener noreferrer\">via:: Summit Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The welcome sign along U.S. Highway 6 at the entrance to the town of Dillon is pictured in mid-April. The town has announced that it will provide $250,000 in funding to help keep small businesses afloat during the coronavirus shutdown. Courtesy Elaine Collins DILLON \u2014 Help is on the way for small-business owners in Dillon. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99],"tags":[],"class_list":{"0":"post-806780","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-local-news"},"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-07-13 01:34:33","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSMT The Mountain","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/ksmt","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/806780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/comments?post=806780"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/806780\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/media?parent=806780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/categories?post=806780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/tags?post=806780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}