City of Glenwood Springs Receives Small Business Relief Program Funds for Dissemination
January 22, 2021
GLENWOOD SPRINGS, CO – The City of Glenwood Springs has received Small Business Relief Program funds as part of Senate Bill 20B-001, in the amount of $61,488. Business applications are open on the City website for eligible small businesses for relief based on need and loss of revenue.
The legislation creating the program sets forth tiered relief payment caps, based on the business’ receipts (sales or revenue) from 2019. With limited funds received, the City will administer relief payments based on need and financial losses, as determined by State requirements. Relief funding thresholds from the State are as follows:
- 2019 Receipts less than $500,000: up to $3,500
- 2019 Receipts between $500,000-$1 million: up to $5,000
- 2019 Receipts between $1 million – $2.5 million: up to $7,000
- 2020 Receipts (established 1/20-3/20) below $2.5 million: up to $7,000
The exact amount of funding for each business will be determined by the number of applications submitted and calculated after all applications have been received.
Eligible businesses include any corporation, LLC, partnership, or sole proprietorship (nonprofits are not eligible) that fits into the following types of businesses:
- Bars (includes Winery, Brewery, Distillery, etc.)
- Movie Theatres
- Gyms & Recreation Centers
Businesses that have voluntarily temporarily closed that confirm that they intend to continue ongoing operations for at least six months are eligible.
Eligible businesses need to:
- be founded prior to March 26, 2020;
- have revenues under $2.5 million;
- be a corporation, limited liability company, partnership, or sole proprietorship in good standing with all licenses;
- have at least one employee unless they are a sole proprietorship;
- have a reduced revenue of at least 20% due to capacity restrictions from public health orders;
- be in compliance with all State Public Health Orders.
The application and eligibility criteria are available on the City of Glenwood Springs website at https://cogs.us/597/Small-Business-Relief-Program. All forms required by State in order to apply are available via the links in the application. The deadline for submission is Friday February 5, 2021.
Businesses with questions should contact Jenn Ooton at 970-384-6404, or Matt Nunez at 970-384-6424.