GWS Offers Funds For Business
The City of Glenwood Springs intends to administer Small Business Relief Program funds as part of Senate Bill 20B-001, passed in December of 2020 by the Colorado General Assembly. The City will consider applications from eligible small businesses for relief based on need and loss of revenue.
SB20B-001 provides for $57 million in direct aid, grants, and fee waivers to struggling small businesses due to COVID-19. Colorado Department of Local Affairs (DOLA) Small Business Relief Program was allocated $35.15 million for grants to eligible local governments to disburse to certain small businesses across Colorado, struggling from the COVID-19 pandemic. Additional information is available on the State’s website at https://oedit.colorado.gov/covid19.
The City of Glenwood Springs applied to the Department of Local Affairs (DOLA) for the program to be able to distribute funds to eligible businesses. The City anticipates receiving approval and funds from DOLA and has opened the application process to abide by the short timeframe. Eligible businesses include any corporation, LLC, partnership, or sole proprietorship (nonprofits are not eligible) that fits into the following types of businesses:
Bars (includes Winery, Brewery, Distillery, etc.)
Gyms & Recreation Centers
Businesses that have voluntarily temporarily closed that confirm that they intend to continue ongoing operations for at least six months are eligible.
Eligible businesses need to:
be founded prior to March 26, 2020;
have revenues under $2.5 million;
be a corporation, limited liability company, partnership, or sole proprietorship in good standing with all licenses;
have at least one employee unless they are a sole proprietorship;
have a reduced revenue of at least 20% due to capacity restrictions from public health orders;
be in compliance with all State Public Health Orders.
The legislation creating the program sets forth tiered relief payment caps, based on the business’ receipts (sales or revenue) from 2019, with a maximum payout of $7,000. Relief payments are based on need and financial losses, as determined by State requirements.
The application will be available starting January 15, 2021 and will be open for 21 days for eligible small businesses to apply. The application and eligibility criteria are available on the City of Glenwood Springs website at https://cogs.us/597/Small-Business-Relief-Program. All forms required by State in order to apply are available via the links in the application. Businesses are encouraged to apply early with the required documentation and complete application. The deadline for submission is Friday February 5, 2021.
Businesses with questions should contact Jenn Ooton at 970-384-6404, or Matt Nunez at 970-384-6424.