Denver Announces Small Business Relief
On January 7, Denver opened up applications for grants through the Small Business Emergency Relief Fund. The application is open to any small business located in Denver that is impacted by the restrictions put in place due to COVID-19. The list of specific criteria can be found on the city’s website.
The application process opened as the city anticipates receiving funding through the state’s Small Business Emergency Relief Fund. The amount of money that Denver will receive for dispersal will be announced on Jan 15. Denver has announced plans to add $1.5 million in addition to the state funds to give to struggling businesses that are not eligible for state funding. Businesses that received money from the city’s 2020 Small Business Emergency Relief fund can still apply. Grants will range between $3500 to $7000 based on the business’s revenue from the past year.
“The survival of our small businesses is critical to the livelihoods of our communities and the success of Denver’s economic recovery,” says Mayor Michael B. Hancock in a statement. “We know the need for financial support to sustain them during this pandemic is dire, and it is our hope that these funds will help them traverse the gap to open in 2021.”
The city also announced that they will launch another program specifically to support restaurant and hotel workers. The program will be run in partnership with the Colorado Restaurant Association, a non-profit organization dedicated to helping Colorado’s food-service industry.
The Colorado Restaurant Association’s October 2020 report lays out the current challenges that both restaurant owners and workers are facing. The report found that the Colorado Restaurant industry had lost billions of dollars in revenue in 2020, and that the Colorado food service industry has lost 87,000 jobs since 2019.
Applications are processed on a rolling basis so businesses are encouraged to apply as soon as possible.
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