Boost Longmont Business Grant
The City of Longmont launched the Boost Longmont Business Grant in late 2020 in an effort to encourage the recovery, resilience, and long-term viability of local small businesses and non-profits contributing to a strong local economy.
The City set aside approximately $1,300,000 dollars from federal funding provided by the U.S. Department of the Treasury under Coronavirus Aid, Relief, and Economic Security Act (CARES) Coronavirus Relief Fund (CVRF). Grants up to $15,000 were provided to 97 eligible businesses and non-profits to cover eligible expenses.
Eligibility Criteria?
- Twenty-five (25) or fewer FTE/employees (Full Time Equivalent (FTE) employees)
- Physical address within Longmont city limits
- Brick and mortar premises or mobile unit (not a home based business or home based non-profit)
- Possess an active City of Longmont Sales & Use Tax license
- In good standing with City permits, licenses, fees, and taxes
- Registered and in good standing with the Colorado Secretary of State
- In operation since January 1, 2020, or before
- Experienced a hardship from closure, dramatic reduction in operations, or loss of revenue related to the
- COVID-19 pandemic
- Able demonstrate how grant funding will support continued operations
Eligible Expenses
- Commercial lease/mortgage and utility payments
- Payroll and employee benefits
- Debt payments
- Inventory, including perishable inventory that was lost due to business closure or a reduction in operations
- Revenue lost as a direct result of the COVID pandemic (e.g. through full or partial business closure)
- Equipment that will be an integral structural fixture, supplies, and services in order to reopen/resume/continue operations with COVID-19 safety measures in place, including personal protective equipment (PPE), Plexiglas, special cleaning services and supplies, marketing/signs/website design for a modified business model, onsite testing, safety certifications, contact tracing, etc.)
- Equipment, employee training, or other expenses associated with pivoting business to meet new market demands resulting from COVID-19 (e.g. manufacturing of PPE or sterilization products).
- Other working capital expenses demonstrated as a need by the applicant and agreed upon by the City’s grant review panel
How were the funds awarded?
Grant requests may exceed available funding. A grant review panel, comprised of members of the COVID-19 Business Response Team, used the following criteria to assess and score applications.
- Minority-, Woman-, Veteran, or Disabled person-owned business
- Business/non-profit is locally owned, operated, or headquartered in Longmont (not a franchise or chain)
- Business owner’s home address is in Longmont
- Business was substantially impacted by COVID-19 (ordered closed, ordered to limit capacity, etc.)
- Business/non-profit aids in COVID-19 Recovery (dependent care, medical/mental health/wellness, transportation, etc.)
- Business/non-profit helps other local businesses continue to operate (compounding economic benefit)
- Business/non-profit demonstrates continued viability by showing how they plan to recover and grow in the coming months and year
- Business/non-profit has not previously received local COVID-19 recovery grant (e.g. from Longmont Community Foundation, Longmont Downtown Development Authority, Longmont Chamber of Commerce, etc.)
