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DENVER, CO - The House Business Affairs and Labor Committee today passed legislation to expand eligibility for the successful CLIMBER (Colorado Loans to Increase Mainstreet Business Economic Recovery) program to better equip small businesses for success, create more good-paying jobs, and support local economies. HB26-1003 passed by a vote of 10-3.
“Colorado Democrats believe in fostering an economy where small businesses and hardworking people can thrive, and our bill would help equip small businesses with the resources to create more good-paying jobs and flourish in their communities,” said Rep. Naquetta Ricks, D-Aurora. “Small businesses and workers are the backbone of Colorado’s economy, which is why we created the CLIMBER program in the wake of the COVID-19 pandemic to support small businesses across Colorado. Our legislation would make this a permanent tool by removing pandemic-era specific language so we can continue to support small businesses, workers and local economies.”
“This bill will help grow our economy, boost wages, and support entrepreneurs as they start and grow their small businesses,” said Rep. Sean Camacho, D-Denver. “The CLIMBER Program successfully helped sustain and grow small businesses during the COVID shutdowns, but between Trump’s tariffs and federal funding cut threats, businesses are facing new challenges. This legislation would make this support more accessible by allowing more small businesses to qualify for CLIMBER loans, helping keep Colorado communities resilient to economic hardship.”
HB26-1003, sponsored by Reps. Naquetta Ricks and Sean Camacho, would remove the COVID-19 recovery provisions of the Small Business Recovery and Resiliency Loan Program to make the program a permanent tool and expand eligibility for loans. The bill also aims to increase the accessibility of the Small Business Recovery and Resiliency Fund by lowering the matching ratio requirement.
In order to support Colorado's small businesses during the COVID-19 pandemic, Colorado Democrats established the CLIMBER program in 2020 to offer small business loans with below-market interest rates. Under the program, small businesses with up to 99 employees may apply for working capital loans between $10,000 and $500,000. These loans can be used to hire more employees, start or expand brick-and-mortar storefronts, get new businesses off the ground and more. In fiscal year 2023-2024, the CLIMBER program loaned over $17 million and helped create or support nearly 1,900 jobs across the state.
Rep. Ricks passed a law in 2024 to make the CLIMBER Program permanent and target resources and expertise to underserved businesses in order to secure favorable loans.
The committee also passed HB26-1013, sponsored by Reps. Emily Sirota and Javier Mabrey, to build on Colorado Democrats’ landmark ‘junk fees’ law. The bill would provide clarity for landlords and tenants around how utilities can be billed. Under the bill, landlords would be able to use ratio utility billing systems, as long as they meet certain requirements, including clearly communicating the use of this billing practice in the rental agreement and not charging tenants more than the amount they were charged by the utility company. HB26-1013 passed by a vote of 10-3.
Last year, Colorado Democrats passed a law to save Coloradans money by cracking down on hidden ‘junk’ fees. The law requires businesses to be transparent about their pricing so consumers aren’t blindsided by undisclosed and excessive fees. In January 2025, the Federal Trade Commission called on the Colorado legislature to pass legislation to tackle these ‘junk fees.’ In their report, they found that consumers were paying double the price that was originally advertised on food delivery apps and over $1,700 annually on rental fees under the country’s largest single-family rental company.