SBA Approves Disaster Loans for Colorado Wildfire Recovery
Up to $2 million in low-interest loans is now available to Colorado small businesses and nonprofits affected by the summer 2026 Elk, Willow, and Gold Mountain fires. Governor Jared Polis announced the U.S. Small Business Administration approval on October 29, 2026. The assistance covers businesses even if they suffered no physical damage.
Economic Injury Disaster Loans for Regional Counties
Economic Injury Disaster Loans carry interest rates as low as 4 percent for businesses and 3.625 percent for private nonprofits, with repayment terms stretching up to 30 years. The funding helps organizations cover operational bills and revenue losses during the recovery period. Businesses do not need to show physical destruction to qualify.
The financing targets three specific disaster windows across multiple counties:
- Willow Fire (June 28 to September 16, 2026): Eligible small businesses and nonprofits in Chaffee, Eagle, Lake, Park, Pitkin, and Summit counties may apply.
- Elk Fire (July 9 to October 1, 2026): Eligible small businesses and nonprofits in Archuleta, Gunnison, Hinsdale, La Plata, Mineral, Ouray, Saguache, and San Juan counties qualify.
- Ouray County Wildfires (Gold Mountain Fire), Flooding, and Mudslides (June 27 to July 29, 2026): Physical disaster loans are available to renters, homeowners, private nonprofits, and businesses operating within Ouray County. Eligible small businesses and private nonprofits in Ouray County may also apply for Economic Injury Disaster Loans.
Hinsdale County Commissioner Kristie Borchers noted that Small Business Assistance funding plays a vital role in helping regional enterprises bounce back from the financial effects of the Elk Fire. This support helps with revenue loss, preserves local jobs, and strengthens the resilience of the business community, ensuring that businesses can continue serving residents and welcoming visitors as the county recovers.
Physical Property Damage Relief in Ouray County
Ouray County residents face distinct destruction from the Gold Mountain Fire and subsequent mudslides and flooding. Physical disaster loans provide distinct funding caps depending on property type:
- Home repairs: Up to $500,000 for homeowners to repair or replace a damaged primary home.
- Personal property: Homeowners and renters can access as much as $100,000 to fix or substitute harmed possessions, such as vehicles, appliances, and furniture.
- Business and nonprofit recovery: Qualified private nonprofits and businesses can secure up to $2 million to restore or substitute impaired inventory, equipment, and property.
Ouray County residents can also get extra money for improvements that protect property from future damage. This money is added on top of any approved loan for home or business repairs.
Application Deadlines and Submission Details
Applicants must track two separate final dates depending on the loan category. The deadline for businesses and nonprofits to return economic injury loan applications for the Willow, Elk, and Gold Mountain disasters is July 23, 2027. Meanwhile, the deadline for SBA physical damage help in Ouray County, including protection improvements, is December 22, 2026. Interested applicants can file online through the SBA disaster assistance portal.