Weekly Update 4/28/2020

Colorado Funding Updates in Response to COVID-19

PPCF:

Emergency Fund
  • Emergency Fund has raised $1.26M
  • The Fund has $400,000 left to distribute
  • The current strategy is to revisit organizations with relief needs that were not previously granted any funds.

We will update these numbers every week.  Additionally, all of the Foundation websites have been updated and show a link to the PPCF  COVID-19 Emergency Relief Fund.

Survive and Thrive COS Impact Fund
Small Business Loans
  • PPCF and Exponential Impact have created immediate 3-month payout SBA loans with 3-year notes of increasing interest rates (Year One: 0%; Year Two: 1%; Year Three: 2%)
  • Fund has raised $2.2M
  • Fund has received 850 total applications
  • Funded 15 new loans for $250,000
  • $200,000 left to give out

Other Funding Updates:

  • Restauranteurs Who Care – teamed up with PPUW and 5 local restaurants to provide soup
  • Statewide fund – Pikes Peak Region is well underrepresented but the state says they provided funding geographically aligned with numbers of applications received
  • Women’s Foundation of Colorado is providing grants
  • Colorado Creative Industries is providing emergency funds
  • El Pomar – $875K allocated out of $1M; additional $100K per region is being allocated