Application Coming Soon – Here’s What You Need to Know
Information below from the https://energizecolorado.com/gap-fund/ website
The Energize Colorado Gap Fund will provide more than $25M in small business loans and grants to boost small business enterprises that are the economic engines throughout the state. Sole proprietors, businesses and nonprofits with less than 25 full-time employees can apply for up to a $15,000 grant and a $20,000 loan for a possible combined total of $35,000 in financial assistance. The application is not currently available, it will launch this month and will be accessible through this web page. Sign up here to receive updates about the Gap Fund.
Applications and awards will be done in rounds to allow us to provide assistance through December 2020. The process will not be first-come-first-serve, it will be a competitive process that will help those in need receive priority access to assistance. See below for more information.
How to Apply
- In the coming weeks this page https://energizecolorado.com/gap-fund/ will host an online application. There is information you’ll need to apply, start gathering that information now.
- We can accept a wide variety of documentation that demonstrates an economic hardship experienced due to the COVID-19 public health emergence. Gather documents that show how you have been impacted by COVID-19, for example:
- bank records
- point of sale receipts
- profit and loss statements
- tax filings
- expense receipts
- Energize Colorado will provide a mentoring program to assist in filing this application including translation. If you have reviewed the information available online and still have questions, please reach out to our technical assistance team for help. We are available to answer simple questions or even help you prepare documentation ahead of time for when the application is released. You can call us at 1-800-471-0628 (7 days a week 6 a.m. – 6 p.m.) or e-mail us at [email protected]
Who is Eligible?
- Small Businesses/Enterprises – Colorado sole proprietors and registered small businesses including LLCs, S-Corps and other business types.
- Nonprofits – Colorado nonprofits whose mission and/or programs directly support economic development, small businesses, or tourism.
- Fewer than 25 employees – Applicants must have fewer than 25 full-time equivalent (FTE) employees. An employer may use its off-season employee count.
- Impacted by COVID-19 – Applicants must be able to show the economic hardship their business is facing due to the COVID-19 pandemic. The business’s story of hardship plus documents such as bank records, point of sale receipts, profit and loss statements, or other documents can be used to show economic harm.
Priority Will Be Given to the Following:
- Any eligible Colorado small enterprise is welcome to apply. Priority will be given to applicants:
- Who are majority-owned by Black, Indigenous, People of Color, Veterans, or Women
- In rural areas with a population of less than 50,000 people
- In the tourism sector
- With limited or no access to capital financing or other federal, state or local grants/loans