DENVER (CBS4) – The COVID-19 pandemic has been catastrophic for a lot of small enterprise, however the Colorado state legislature is delivering a late Christmas reward. One of many main items of laws to return out of the particular session was a invoice that gives cash for grants to native companies.
“SB20B-001 allotted $35.15 million to particularly our division of native authorities to offer small companies in Colorado aid,” mentioned Brett McPherson, the communications and advertising specialist for the Colorado Division of Native Affairs.
In case you are a enterprise and also you need a few of that cash, it’s not the state it’s essential be calling for those who want some assist. As a substitute you need to contact your native authorities.
“Companies are instructed to get in contact with their localities, whether or not it’s their counties, their council of presidency, their financial improvement districts, or even when their county is unwilling to take part or administer these packages, they’ll monitor down their municipalities that they’re part of,” says McPherson.
Not each enterprise is eligible.
“We’re speaking about eating places, bars, distilleries, wineries, breweries, caterers, film theaters, and health or leisure sport facilities and these companies must have a income of below $2.5 million a yr,” McPherson defined.
To verify the large cities aren’t the one ones who get assist, 10% of program funds are reserved for counties with the very best want and populations beneath 100,000.
Native governments are already making use of for cash to distribute, so for those who want aid you shouldn’t wait.
“Small companies ought to begin getting in contact with their native governments straight away,” McPherson mentioned.
This program is open to those that are below state-mandated extreme capability restrictions that started on Dec. 10 or earlier than, and are nonetheless below these restrictions by way of Dec. 31. Native governments will allocate funds by no later than Feb. 12.
Additionally funded by way of SB 20B-001 is the Colorado Arts Aid Fund, which supplies $7.5 million to help arts, cultural and leisure artists, crew members and organizations impacted by the COVID-19 pandemic.
Funding by way of this invoice will likely be distributed by way of two separate grant purposes: Enterprise/Group and People. The funding can be utilized to cowl any private or enterprise expense.
For people, grant awards are one-time flat quantities as much as $2,500. For organizations, the funding quantity will likely be based mostly on the dimensions of the group’s money working income loss from 2019 to 2020.
These funds are being distributed by way of the Colorado Artistic Industries workplace. Extra data is offered on-line at oedit.colorado.gov/colorado-arts-relief-grant.