Boulder County awards emergency grants to 11 Niwot businesses

Last week, the Boulder County Board of County Commissioners announced that it has awarded funding to 11 businesses in Niwot through the Small Business COVID-19 Emergency Relief Grant Program, a $200,000 fund that launched in May to provide "immediate financial support" to those businesses negatively impacted by the pandemic in unincorporated parts of the county. In all, the county awarded grants totaling $192,500 to 34 businesses.

"We were interested in really supporting small businesses through the public health emergency that had caused their closure," county policy analyst Summer Laws said about the program. "We wanted to provide more of a bridge funding versus long-term funding- we knew the small amount of funding wasn't going to be enough to completely sustain a business, but could potentially help them through this closure."

Online applications for the funding were accepted between May 8 and May 18. Applicants could request a grant in the amount of $2,500, $5,000, and $7,500 to help offset short-term operating costs, such as rent, utilities, equipment, or payroll. To be eligible, a business had to have fewer than 50 employees, be located in an unincorporated area of Boulder County, and be in current on all accounts with both the county and State of Colorado.

According to Laws, the county received a total of 217 applications requesting $1.2 million. Among those, the vast majority reported a decline in revenue (94 percent) or decrease in customers (91%) resulting from the pandemic, while about half reported reduced hours of operation (51%) or business closure (48%).

"This gives you a general idea, I think, of how COVID-19 is impacting our businesses," Laws said. "There's been a significant impact of the folks who applied."

Of the 217 initial applications, 121 met the county's eligibility requirements. Those were then scored by an automated process, with the top scorers moving on for further evaluation from a 10-member panel, composed of representatives from the county, local businesses, and other grant programs. Among them was Niwot Business Association president and LID member Eric Bergeson, who said that the county's process was well executed and "balanced."

"It came together quickly, and it seemed relevant to what the need was."

Seventy-four of the 121 eligible applications were then reviewed by panel members for impact on their community and future sustainability. Ultimately, the group recommended grants for 34 businesses around the county, for a total of $192,500, with awards evenly distributed between the three amounts. Grantees were notified of their awards starting on May 29. (Left Hand Valley Publishing, which publishes the Courier, was among the businesses to receive a grant through this program, for $7,500.)

"The team members got up to speed quickly," Laws said of the evaluation panel, which also included a former mayor of Jamestown and a member of the Latino Chamber of Commerce. "I feel like everyone could easily explain why they scored certain businesses a certain way, and had done some thoughtful work in determining which businesses should receive which scores."

Of the 34 awarded businesses, more than 70% have revenue under $500,000; 62% have been in business for more than 10 years, and 71% are women-owned. Geographically, the highest share (32%) of awards went to Niwot, with Ward receiving one and Jamestown two. Most of the other awardees were from "outside" one of the county's municipalities.

The county didn't put any restrictions on the grant, but did ask business owners to report back later this summer about the impact of the funding on their operations.

"Hopefully what it means is a significant impact on the businesses," Laws said. "We did hear back from a few of them when they were awarded how much this meant to them and how they were worried about keeping their doors open."

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'sColorado's Office of Economic Development and International Trade. Non-profit organizations may be eligible funds from Boulder County Community Foundation orHelp Colorado Now.