COLORADO SPRINGS, Colo. (KOAA) State lawmakers are considering a new bill (HB26-1003) aimed at helping more small businesses across Colorado.The proposal would allocate $5 million from the state's CLIMBER Loan Program to the ex isting Colorado Startup Loan Fund. The CLIMBER Loan program was launched during the pandemic to help businesses recover from economic shutdowns.For Dr. Kenya Lee, owner of PureLee Redefined in Colorado Springs, the CLIMBER Loan Program made a critical difference.We celebrated one year and then the shutdown of the pandemic, said Dr. Lee. We were terrified because we could actually lose the business.Like many small business owners, Dr. Lee faced financial strain as operations slowed. When business began to rebound, she needed to invest in new equipment to stay competitive.We started to grow. We needed to invest in new equipment just to stay competitive, said Dr. Lee.Dr. Lee applied for the CLIMBER Loan Program and received funding within two to three weeks.Not just gestures, but something that can really make a difference," said Dr. Lee.State Rep. Naquetta Ricks, a sponsor of the bill, says small businesses are still feeling the effects of economic shifts.Small businesses are the backbone of our economy, said Rep. Ricks. When we support them, theyre able to provide jobs.Ricks says many business owners are seeing changes in revenue across various sectors, making access to flexible financing even more important. Under the proposal, the state treasurer would transfer $5 million into the loan fund on June 30, 2026, if the bill passes.For Dr. Lee, expanding the program could help other entrepreneurs weather financial challenges and grow their businesses.Im really happy to see people focus on that, she said. Is it the one solution? No. But at least its a start.The bill has passed its third reading in the House and is now headed to the Senate._______Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching. ...read more read less