Pueblo Metropolis Council COVID-19 loan payments deferred for little enterprises

Pueblo Town Council voted Monday night to grant deferment for 34 local businesses that gained COVID-19 aid loans very last calendar year, postponing the to start with payment to May possibly 2022.  

The financial loans, which complete more than $1.2 million, will now be up for repayment on May 1, 2022. The 1% desire will be frozen for the future year, so the companies will finally owe the principal stability as perfectly as one 12 months of fascination.  

The deferment is recognition that the pandemic had significantly more intense financial penalties than originally anticipated.  

“We expected, frankly, a calendar year later that things would be again to standard,” metropolis lawyer Dan Kogovsek said. “Now we’re coming on a year and a 50 percent and matters are not back to standard.” 

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