Sep 1 2020

The Energize Colorado Gap Fund Application Process Is Open

The Energize Colorado Gap Fund is open for applications. At some point, I’ll write a blog post about the story of how this came together via a public-private partnership to fill a much-needed gap in the Federal funding for small businesses throughout Colorado due to the Covid crisis, but for now either send this to people you think it is relevant to or, if it is relevant to you, please apply for funding.

If you are a business or nonprofit with less than 25 full-time employees (including sole proprietors) you 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 applications and awards will be done in rounds to allow the Energize Colorado Gap Fund to provide assistance through December 2020. This is not a first-come-first-serve process, but rather one that will be focused on helping those in need receive priority access to assistance.

A detailed FAQ for the Energize Colorado Gap Fund is available, but here are a few summary points around eligibility and priority.

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

I’m incredibly proud of the hard work of the many volunteers at Energize Colorado and the leadership of Wendy Lea who helped get this up and running. And, the Energize Colorado Gap Fund Executive Committee, under the leadership of Kent Thiry, is amazing to see in action.