Boulder County offers grants to small businesses

Last week, the Boulder County Board of County Commissioners launched the Small Business COVID-19 Emergency Relief Grant Program to provide "immediate financial support" to small businesses in unincorporated parts of the county, including Niwot, Jamestown, and Ward. Companies with fewer than 50 employees that have experienced substantial financial hardship due to the coronavirus pandemic are encouraged to apply.

"The county has been very active in the emergency response for the pandemic...but we're starting to really dig deep into what [economic] recovery looks like," county policy analyst Summer Laws in a presentation to the Niwot LID board on May 5. "We know it's a small fund, and the board recognizes that, but we wanted to be able to do something."

Online applications for the funding opened on May 8, and closes at 11:59 p.m. on May 18. Grants in the amount of $2,500, $5,000, and $7,500 will be awarded to help eligible businesses with short-term operating costs, such as rent, utilities, equipment, or payroll. As of May 11, Mark Ruzzin of the county commissioners' office reported that 40 applications had already been submitted.

"It's not enough to ensure sustainability," Laws said of the grants. "It's probably part of a larger sustainability plan."

Applications will be evaluated by a committee composed of county staffers, as well as independent advisors and community business owners "at arms length from the applicants." Any for-profit small business can apply, but Laws said certain businesses will be given priority, due to the high anticipated demand for this funding.

"We've put together some criteria to ideally identify which businesses are most critical in their communities, probably tending toward brick and mortar businesses, and tending towards businesses that are already providing protections for their employees in terms of personal protective equipment. We're also looking for those that have plans in place for their financial sustainability, and supporting those that were unable to secure PPP [Paycheck Protection Program] and the EIDL [Economic Injury Disaster Loan] funds."

Recipients will be notified on May 29. Later, those businesses will be required to submit a survey about their use of the funds, and whether they were impactful.

For more information about this initiative, or to fill out an application, visit http://www.boco.org/EmergencyReliefGrant. For additional support for small businesses from the federal and state government and from other sources, please visit the Boulder Small Business Development Center and Colorado's Office of Economic Development and International Trade. Non-profit organizations may be eligible funds from Boulder County Community Foundation or Help Colorado Now..