The checks are in the mail Friday for the first grant recipients of the city’s Aurora Economic Relief Loan and Grant Program.
The program is helping more than 100 small businesses throughout Aurora to retain jobs and provide emergency financial support during the public health crisis.
The city of Aurora and the Aurora City Council, in cooperation with CEDS Finance, launched the grant and loan program to provide economic assistance to restaurant, retail, service and entertainment small businesses and arts-related nonprofits.
“Our business community needs help now more than ever, and the Aurora Economic Relief Loan and Grant Program is one of the ways that we can support our small businesses financially at the local level,” Aurora Mayor Mike Coffman said. “The city is looking at additional ways that we can help businesses as we move into the recovery phase.”
Through an extensive outreach effort, the competitive program was able to target businesses representing a wide breadth of demographics.
The grant funding is being distributed initially as grant agreements are finalized, with loans dispersal following. The city will manage the loans.
A combination of Community Development Block Grants, urban renewal funds and CARES Act dollars is funding the program.