Colorado Enterprise Fund, in partnership with Pikes Peak Area Council of Governments, is accepting applications for a small business grant program for awards up to $7,000.
**As of Friday, March 5, 2021 at 5:00 PM MDT, the application window has closed.
The objective of the 2021 Pikes Peak Small Business COVID-19 Grant Program is to provide additional financial assistance to El Paso County small businesses considered to be especially hard-hit by the COVID-19 pandemic. Please be sure to read this page in its entirety, including the list of FAQs at the bottom of this page, to understand eligibility and the application process.
To be considered, applicants must meet all eligibility requirements and must submit a complete online application to CEF on or before 5:00 p.m. MDT on Friday, March 5th, 2021. The online application will take about 10 minutes to complete. See below for the link to apply. If you have questions on eligibility, the application, or something else, please email: pikespeakgrants@coloradoenterprisefund.org. Please note that you should only apply once for this grant program. If you applied in round one of the Pikes Peak Small Business grant program, you should not apply again in this second round.
Grant Details & Eligibility:
- Per state legislation, ONLY restaurants, restaurants within hotels, bars (including breweries, wineries, and distilleries with attached sales rooms), caterers, movie theaters, and fitness and recreational sports centers are eligible to apply. A detailed list may be found on page 4 of the signed legislation (Signed Legislation).
- Business must provide evidence of at least 20% revenue loss since March 26, 2020, as a result of the restrictions imposed on the business due to the COVID-19 pandemic, except if the business began operating on or after Jan 1, 2020 and on or before March 26, 2020.
- Business began operation on or before March 26, 2020
This grant opportunity is available for businesses:
- Operating before Jan 1, 2020, with annual receipts of less than $2.5 million for the 2019 calendar year, OR
- For a small business that began operating on or after Jan 1, 2020 and on or before March 26, 2020, with annual receipts of less than $2.5 million in the 2020 calendar year.
- Businesses with annual receipts greater than $2.5M are eligible to apply and will be considered only if PPACG is unable to distribute all available funds to businesses with annual receipts less than $2.5M.
- Businesses must have at least one full-time employee W2 unless they are structured as a sole proprietorship.
- Businesses must operate in El Paso County, including any city or town in El Paso County and the unincorporated areas of the county.
- Business must be in compliance with current public health orders.
Note: Businesses that received a grant award from the 2020 El Paso County Small Business Relief Grant Program, a Small Business Relief Program from any city or town, the federal Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) program, or other relief program ARE eligible to apply and receive awards.
Businesses that have already received a grant award from this PPACG Grant program are NOT eligible to apply in the second round.
Small businesses that have applied for funding from the Colorado Arts Relief Program are NOT eligible to apply to the Pikes Peak Small Business COVID 19 Grant Program. Please see https://oedit.colorado.gov/colorado-arts-relief-grant for more information about the Arts program.
Pikes Peak Grant Program FAQs
The following types of businesses are eligible for relief payments:
- Restaurants
- Bars (includes establishments like a Winery, Brewery, Distillery, etc.)
- Caterers
- Movie Theatres
- Gyms & Recreation Centers
A detailed list may be found on page 4 of the signed legislation. https://leg.colorado.gov/sites/default/files/2020b_001_signed.pdf
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Business has operated under severe capacity restrictions required by a local or state public health order
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Minimum 20% revenue loss (compared against 2019 receipts) OR is a business opened between Jan. 1 and March 26, 2020
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Currently operating within the eligible geography
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Commitment to operate for the next six months
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Valid business license and in good standing with issuing agency
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Cannot also apply for or receive funding from “Arts Relief Program” (also established in SB20B-001)
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Qualifies as a “Small Business” by meeting the following criteria in the bill:
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Headquartered and operating in Colorado
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Minimum of one full time employee or a sole proprietorship
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Less than $2.5 million in annual revenue/receipts
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The legislation creating the program sets forth tiered relief payment caps, based on the business’ receipts (sales or revenue) from 2019, in the following fashion. However, these tiers may be formulaically adjusted downward based on total dollars allocated to each eligible entity:
- Receipts less than $500,000 may receive $3,500 maximum payment
- Receipts greater than $500,000 but less than $1 million may receive $5,000 maximum payment
- Receipts greater than $1 million but less than $2.5 million may receive $7,000 maximum payment
Businesses must provide the following:
- Evidence that the business is headquartered in and doing business in Colorado within the appropriate local government area.
- NAICS code indicating an eligible industry.
- Affirmation of an intent to continue operations within the state for at least the next six months.
- Valid business license in good standing (ex. Certificate of Good Standing from the Secretary of State).
- Affirmation that the business has received no other funds from this special legislation.
- Affirmation that the business is in compliance with all public health orders.
- Affirmation that the business is either a sole proprietorship or has at least one full time employee.
- Evidence that the business had less than $2.5 million in sales in 2019. Businesses that started operations between January 1, 2020 and March 26, 2020 should provide evidence that calendar year 2020 sales are less than $2.5 million.
- For businesses started prior to 1/1/2020, evidence of at least a 20% reduction in revenue since March 26, 2020 due to restrictions. This is not required for businesses that began operations between January 1, 2020 and March 26, 2020.
- 2019 Federal Tax Return (if started prior to 2020)
- Interim 2020 profit and loss or statement of revenues through September 2020 or later. The starting date for the report may be January 1 or March 26 (April 1 is ok).
- For businesses starting operations between January 1, 2020 and March 26, 2020, a profit and loss or statement of revenue from the date operations began THROUGH 12/31/20.
- For businesses started prior to 1/1/2020, evidence of at least a 20% reduction in revenue since March 26, 2020 due to restrictions. This is not required for businesses that began operations between January 1, 2020 and March 26, 2020.
