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December 23, 2020

State-funded Small Business COVID-19 Grant Relief Program to Start in 2021

Boulder County will be administering this program with funding
provided by SB-20B-001

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Boulder County, Colo. -- Boulder County, in partnership with local government and nonprofit partners, will be offering a small business grant program in January. The program is funded by the State of Colorado, which has specified that eligibility for the funding is limited to restaurants, bars (including breweries, wineries, and distilleries), caterers, movie theaters, gyms, and recreation centers with annual receipts of $2.5 million or less.

To qualify, businesses must have experienced at least a 20% reduction in revenue due to the COVID-19 pandemic since March 26, 2020. Boulder County will receive notice from the Colorado Department of Local Affairs by Jan. 15, 2021 regarding the total amount of funding that will be available to county small businesses.

Awards will range up to $7,000 as specified in Colorado Senate Bill 20B-001.

The online application is not yet available and will open in early January 2021. The application will be open for at least 21 days.

Eligibility Criteria

  1. Per state legislation, ONLY restaurants, bars (including breweries, wineries, distilleries), caterers, movie theaters, and gyms or recreation centers are eligible to apply.
  2. Business must provide evidence of at least 20% revenue loss since March 26, 2020, as a result of the restrictions imposed on the business due to the COVID-19 pandemic, except if the business began operating on or after Jan. 1, 2020 and on or before March 26, 2020.
  3. Business began operation before March 26, 2020.
  4. This grant opportunity is available for businesses:
    • Operating before Jan. 1, 2020, with annual receipts of less than $2.5 million for the 2019 calendar year, OR
    • For a small business that began operating on or after Jan. 1,2020 and on or before March 26, 2020, with annual receipts of less than $2.5 million in the 2020 calendar year.
  5. Businesses must be in good standing with the State of Colorado.
  6. Businesses must operate in Boulder County, including any city or town in Boulder County and the unincorporated areas of the county.
  7. Business must be in compliance with current public health orders.

Businesses that received a grant award from a previous round of Boulder County Small Business Relief Grants, a Small Business Relief Program from any city or town, the federal Paycheck Protection Program (PPP), or Economic Injury Disaster Loan (EIDL) program, or other relief program ARE eligible to apply.

Small businesses that have applied for funding from the Colorado Arts Relief Program are NOT eligible to apply to this new Boulder County Small Business Relief Program. Please see https://oedit.colorado.gov/colorado-arts-relief-grant for more information about the Arts program.

Funding for this program was provided by the General Assembly and the Governor during the special legislative session earlier in December. A total of $37 million was made available pursuant to SB 20B-001, a measure to provide additional financial assistance to small businesses that state policymakers considered to be especially hard-hit by the COVID-19 pandemic.

How to Apply

Once the application is made available, applicants will be required to provide the following information to confirm program eligibility and assist the county in understanding the economic impact of the pandemic:

  • Business license number and federal EIN or tax ID number;
  • Financial and other information describing the impacts of the pandemic on their business;
  • Details of participation in recovery-related small business grant programs, such as the PPP, EIDL, or other state and local programs; and
  • Demographic information.

Information provided on applications will be used for grant program purposes only.

Applying for this grant funding should be one component of a larger strategy for a business’s recovery from the impact of the COVID-19 pandemic, and is not intended to be a sole source of aid.

Grant funding will be evaluated based on applicant need and a clear indication of COVID-19 impact to the business.

More information on how to apply will be available the week of Jan. 4, 2021 at www.boco.org/COVID-19ResourcesForBusinesses.