Last month the Colorado General Assembly approved Senate Bill 20B-001, designating $57 million in direct aid, grants, and fee waivers for small businesses impacted by COVID-19. Now the city of Glenwood Springs is accepting applications from local businesses to begin distributing those funds. KDNK’s Lucas Turner has more.
As part of the state legislation, The Colorado Department of Local Affairs (DOLA) was allocated more than $35 million for grants to eligible local governments, which will then distribute the funds qualifying businesses. The City of Glenwood springs has applied to the program, and is already accepting applications from local businesses.
Eligible small businesses, which can include any corporation, LLC, partnership, or sole proprietorship must fall under categories specified by DOLA.
Those are: Restaurants and bars, caterers, movie theatres, gyms, recreation centers, and temporarily closed businesses that intend to continue ongoing operations for at least six months. Non-profit organizations are not eligible.
Other state requirements are: being founded prior to March 26 of 2020, having annual revenues under $2.5 million, being in good standing with the state, following all State Public Health orders, and having reduced revenue of at least 20% due to capacity restrictions.
Applications and more information about the small business relief program is on the City of Glenwood Springs website at COGS.US The deadline for submission is Friday, February 5th. Businesses are encouraged to apply as soon as possible.