Denver announced the details of its business relief program, including $7,500 grants, on Wednesday. The Denver Economic Development & Opportunity (DEDO), in partnership with Mile High United Way, is making available one-time grants up to $7,500 for eligible small businesses with a focus on the following industries:
- Retail (storefront)
- Restaurant/food industry
- Personal care (barbershop, nail salon)
- Health care and social assistance services (childcare & home health care providers)
- Logistics
- Small manufacturing
The program is intended to be available for four months and rolled out in monthly phases with the first applications due Tuesday, March 31.
The grants cannot exceed more than 60% of a business’ revenue loss and must meet certain criteria including the following:
- Operate within the City and County of Denver
- Generate $2 million in annual revenue or less
- Have 25 employees or fewer
- Have experienced a 25% decline in revenue this year as a result of the COVID-19 pandemic
The city will prioritize applications based on several factors including the percentage of revenue decline, number of employees and proposed use of financial assistance. Grants can be used to fund payroll, fixed costs like rent and mortgages, marketing strategies, operating costs, implementing delivery services, installing better ventilation and other engineering controls, and sourcing alternative suppliers.
Interested businesses can complete an online questionnaire and DEDO will screen responses to filter to the correct grant program. Then, businesses will be asked to complete an online application.
Denver is also promoting its Microloan Program as a solution for businesses affected by COVID.19. Learn more about the program and apply.
Visit the City of Denver’s website to see resources available to businesses.
