During the recent Colorado General Assembly Special Session, Senate Bill 20B-001 was passed establishing a Small Business Relief Program, valued at $37 million. Local governments may apply for program funds to be allocated based on population. As part of Adams County’s ongoing COVID-19 emergency response and recovery strategy, the county will be applying for, administering, and distributing a portion of these funds to the Adams County business community.
The county’s Small Business Relief Program offers a one-time award in amounts of $3,500, $5,000, $7,000 per business applicant based on company annual income.
To be eligible, businesses must meet the following criteria:
- Eligible businesses may only be in the following sectors:
- Restaurant (including hotel/restaurants combo and food trucks)
- Bar (holding a liquor license)
- Movie theater
- Fitness and/or recreation center
- Small business means annual income of less than $2.5 million.
- Shown in 2019 calendar year if operating then.
- Shown in 2020, if business opened between Jan. 1, 2020, and March 26, 2020.
- Must show 20% annual decrease in revenues due to COVID-19 restrictions if operating before Jan. 1, 2020 (not required if opened after Jan. 1, 2020).
- Must demonstrate impact from in-person capacity limits.
- Must have at least one employee, unless registered as a sole proprietor.
- Must be licensed with appropriate authority (state and/or municipality).
- Businesses cannot have been willingly out of compliance with Public Health Orders.
- Businesses must pledge in good faith to remain in operation for the next six months after receiving an award.
- All businesses must receive a 1099 for grant amount.
- Applicants cannot be applying for or receiving a grant from the COVID Arts Relief Program (section 24-48.5-316 of SB20-001).
- Fund amounts are based on company annual income:
- Less than $500,000 = $3,500
- $500,000 - $1 million = $5,000
- $1 million - $2.5 million = $7,000
- Regulations established for eligibility under SB 20B-001 are available at here.
For more information on this program, contact Economic Development. To view this in another language, please select your language of choice in the “Select Language” menu at the top of this page.