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JOINT RELEASE: Bill to Create Jobs and Support New Small Businesses Becomes Law — Colorado Senate Democrats
- Colorado lawmakers say HB26-1003 modernizes the CLIMBER program to expand eligibility and support for small businesses statewide.
- The new law lowers private leverage from 4:1 to 1:1 to access Small Business Recovery and Resiliency funds.
- The CLIMBER program provides working capital loans ranging from $10,000 to $500,000 for small businesses with up to 99 employees.
- Governor Polis signed the bill on May 29 to expand CLIMBER and support local economies.
- Colorado Startup Loan Fund receives increased reallocated funds to support rural and multilingual business owners.
- The CLIMBER program has previously created and supported thousands of jobs across Colorado.
- The law also modernizes the program by removing COVID-19 recovery language from eligibility criteria.
- Polis administration emphasizes CLIMBER as a lifeline for small businesses during the pandemic and beyond.
- The law targets underserved areas by expanding outreach and access to loans.
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