State-funded Small Business COVID-19 Grant Relief Program for Select Businesses applications now open - City of Longmont
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State-funded Small Business COVID-19 Grant Relief Program for Select Businesses applications now open

Boulder County, in partnership with local government and nonprofit partners, will be administrating a small business grant program to specific businesses in January funded by the State of Colorado. Senate Bill 20B-001, passed by a special session of the Colorado legislature and signed by Governor Polis in December, has specified that eligibility for the funding be limited to the following types of businesses:

  • Restaurants
  • Bars (including breweries, wineries, and distilleries)
  • Caterers
  • Movie theaters
  • Gyms
  • Recreation centers

To qualify, businesses must have began operating prior to March 26, 2020. For any business that started its operations before Jan. 1, 2020, the business must have experienced at least a 20 percent reduction in revenue due to the COVID-19 pandemic in 2020. If a business began its operations after Jan. 1, 2020, but before March 26, it does not have to meet this criteria to be eligible.

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

The online application website is open and will be available until 5 p.m. on Friday, Feb. 19 at 5 p.m.

“Boulder County’s small businesses are the heart of our local economy and jobs people depend on,” said Boulder County Commissioner Matt Jones.” We’re excited to partner with the state of Colorado to provide this economic relief to small businesses as part of our robust pandemic response that also includes our public health response, food and housing support for individuals and families, assistance securing unemployment benefits, and more.”

Eligibility Criteria (as determined by SB 20B-001):

  1. 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. Businesses must be in good standing with the State of Colorado.
  5. Businesses must operate in Boulder County, including any city or town in Boulder County and the unincorporated areas of the county.
  6. Business must be in compliance with current public health orders.

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.

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.

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

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:

  • If in operation in 2019: 2019 Federal Business Tax Return, 2019 Colorado State Business Tax Return and 2020 Profit & Loss or Revenue Statement that covers the date the business began operating THROUGH 12/31/2020
  • If not in operation in 2019, Interim 2020 Profit & Loss or Revenue Statement as proof of 2020 revenue loss if operation began before January 1, 2020
  • Valid, government issued identification of the applicant (driver’s license, ID card, passport, etc.)
  • Completed IRS form W-9 for the applicant business

More information on how to apply and the eligibility requirements is be available at boco.org/state-funded-small-business-c19-grants.

For more small business information and support, including additional opportunities for financial support, business owners should check out the Boulder Small Business Development Center including weekly webinars and direct one-on-one advising services. More information is available at bouldersbdc.com, by email at admin@bouldersbdc.com, or by calling 303-442-1475. Additional information and resources area also available on the county website at www.boco.org/COVID-19ResourcesForBusinesses.

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