Small Business Recovery Program Modifications
Summary
Colorado HB26-1003 modifies the Small Business Recovery and Resiliency Loan Program by removing COVID-19 as the stated basis for the program, changing the matching funds ratio from $1 from the fund to $4 from other sources to $1:$1, and allowing loan deferrals for hardship without requiring a COVID-19 or economic conditions nexus. The bill removes county-based fund allocation requirements and requires the program to maintain targets for rural counties and businesses owned by women, minorities, or veterans. A $5 million transfer from the small business recovery fund to the Colorado startup loan program fund is required by June 30, 2026.
“The bill requires the state treasurer to transfer $5 million from the fund to the Colorado startup loan program fund on June 30, 2026.”
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What changed
The bill modifies Colorado's Small Business Recovery and Resiliency Loan Program in several key ways: it removes COVID-19 pandemic recovery as the stated program purpose, changes the required matching funds ratio from $1 from the fund to $4 from other sources to $1:$1, and eliminates the requirement that hardship-based loan deferrals be connected to the COVID-19 pandemic or ongoing economic conditions. The bill repeals county-based fund allocation requirements and instead requires tranches of loan funding to be used statewide while maintaining targets for rural counties and businesses owned by women, minorities, or veterans. The bill also requires the state treasurer to transfer $5 million from the small business recovery fund to the Colorado startup loan program fund on June 30, 2026.
Colorado small businesses and startups may benefit from easier access to the loan program through the more favorable matching ratio and broader hardship deferral criteria. Rural businesses and those owned by women, minorities, or veterans are specifically targeted for support under the amended program. The bill remains under legislative consideration and has passed Senate Second Reading; it has not yet been enacted into law.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
HB26-1003
Small Business Recovery Modifications
| Type | Bill |
|---|---|
| Session | 2026 Regular Session |
| Subjects | Business & Economic Development |
Concerning modifications to the small business recovery and resiliency loan program.
Recent Bill (PDF) Recent Fiscal Note (PDF) Bill Summary:
Currently, the purpose of the small business recovery and resiliency loan program (program) is to support the state's recovery from the economic crisis caused by COVID-19 by supporting Colorado small businesses recovering from COVID-19. The bill modifies the purpose of the program to supporting Colorado's small businesses through the program.
Currently, money in the small business recovery and resiliency fund (fund) may be used for specified purposes if the money from the fund is matched by money provided by other sources at a ratio of $1 of money from the fund to $4 of money from other sources. The bill changes this ratio to $1 from the fund to $1 from other sources. Once the money from the fund is matched by other sources and comprises a tranche, the bill specifies that the money from the tranche may be used for loans or to purchase participation interest in loans for businesses as determined by the program oversight board (board), including working capital and the purchase of equipment.
Currently, principal and interest payments on a loan may be deferred for up to one year for circumstances of hardship created by the COVID-19 pandemic or based on ongoing economic conditions. The bill allows a deferral for circumstances of hardship and repeals the requirement that the hardship must be caused by the COVID-19 pandemic or ongoing economic conditions.
Currently, each tranche is subject to an initial period of time, as determined by the board, in which a portion of the money from the fund is allocated to each county, as determined by the board, based on specified criteria or a statutory formula. Currently, the money allocated to each county must be reserved for applications from eligible borrowers located in that county for the initial period of time. The bill repeals the requirement that the money is reserved for the initial period of time and that the money is allocated to a county. The bill requires each tranche of loan funding to be used to fund businesses across the state over the duration of the program and to maintain targets and support businesses located in rural counties and businesses owned by women, minorities, or veterans. The program will track the distribution of capital to counties.
The bill requires the state treasurer to transfer $5 million from the fund to the Colorado startup loan program fund on June 30, 2026.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Prime Sponsors
Naquetta Ricks
Representative
Sean Camacho
Senator
Chris Kolker
Senator
Janice Marchman
Committees
House
Senate
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Status
Under Consideration
Introduced
Under Consideration
Upcoming Schedule
1 meeting
Apr 23
Senate Third Reading of Bills - Final Passage - Consent Calendar
9:00 AM Senate Chamber
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 04/22/2026 | Revised | |
| 02/10/2026 | Reengrossed | |
| 02/09/2026 | Engrossed | |
| 01/14/2026 | Introduced |
| Date | Version | Documents |
|---|---|---|
| 02/05/2026 | PA1 |
| Date | Version | Documents |
|---|---|---|
| 01/22/2026 | Initial Fiscal Note |
| Date | Version | Documents |
|---|---|---|
| 04/21/2026 | SA1 |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 26-1003 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Hearing Summary | Committee Report: PDF | |
| Activity | Vote | Documents |
| --- | --- | --- |
| Refer House Bill 26-1003 to the Committee on Appropriations. | The motion passed on a vote of 9-0. | Vote summary |
| Hearing Summary | Committee Report: PDF | |
| Activity | Vote | Documents |
| --- | --- | --- |
| Adopt amendment L.001 | The motion passed without objection. | Vote summary |
| Refer House Bill 26-1003, as amended, to the Committee of the Whole. | The motion passed on a vote of 10-3. | Vote summary |
| Hearing Summary | Committee Report: PDF | |
| Date | Calendar | Motion |
| --- | --- | --- |
| 02/10/2026 | Third Reading | BILL |
| 02/09/2026 | Committee of the Whole | AMD (H.001) |
| 02/09/2026 | Committee of the Whole | AMD (H.002) |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 02/09/2026 | L.004 | Second Reading | Lost [**] | |
| 02/09/2026 | L.002 | Second Reading | Lost [**] | |
| 02/04/2026 | L.001 | HOU Business Affairs & Labor | Passed [*] |
- Amendments passed in committee are not incorporated into the measure unless adopted by the full House or Senate.
** The status of Second Reading amendments may be subsequently affected by the adoption of an amendment to the Committee of the Whole Report. Refer to the House or Senate Journal for additional information.
| Date | Location | Action |
|---|---|---|
| 04/22/2026 | Senate | Senate Second Reading Special Order - Passed - No Amendments |
| 04/22/2026 | Senate | Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 03/10/2026 | Senate | Senate Committee on Finance Refer Unamended to Appropriations |
| 02/12/2026 | Senate | Introduced In Senate - Assigned to Finance |
| 02/10/2026 | House | House Third Reading Passed - No Amendments |
| 02/09/2026 | House | House Second Reading Special Order - Passed with Amendments - Committee |
| 02/06/2026 | House | House Second Reading Laid Over Daily - No Amendments |
| 02/04/2026 | House | House Committee on Business Affairs & Labor Refer Amended to House Committee of the Whole |
| 01/14/2026 | House | Introduced In House - Assigned to Business Affairs & Labor |
Prime Sponsor
Rep. S. Camacho | Rep. N. Ricks
Sen. C. Kolker | Sen. J. Marchman
Sponsor
(None) Co-Sponsor
Rep. J. Bacon | Rep. A. Boesenecker | Rep. M. Carter | Rep. C. Clifford | Rep. M. Duran | Rep. R. English | Rep. M. Froelich | Rep. L. Goldstein | Rep. S. Lieder | Rep. M. Lindsay | Rep. M. Martinez | Rep. T. Mauro | Rep. J. McCluskie | Rep. K. McCormick | Rep. K. Nguyen | Rep. M. Rutinel | Rep. K. Stewart | Rep. B. Titone | Rep. A. Valdez | Rep. S. Woodrow
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