Encourage and support primary employers, diverse and high-quality retail and service establishments, with an emphasis on local businesses, that contribute to the sales and property tax base. The program is designed to aid businesses that demonstrate financial stress or disrupted operations, due to the public health crisis, who are trying to reopen, stay open and/or modify their business operations or facilities to serve customers in a safe way.
Weld County and participating communities have directed a portion of their Federal CARES Fund dollars to the Weld County Business Recovery Program. The majority of the funds available will be directly allocated to businesses. A portion will also be set aside for non-profit business support organizations (Chambers /DDA’s) who are providing COVID response/assistance to their communities.
Depending on the businesses financial need, assistance is available based on the below sliding scale up to a maximum $25,000. Additional amounts to be considered if additional funding rounds occur.
Businesses that applied for previous federal and/or local Economic Relief Loans and/or Grant Programs may also apply for this program. However, grant funding for this program may not duplicate needs funded by other programs or grants received by the business/nonprofit. Applicants must acknowledge all other funding received and how that funding is being used.
Weld County Business Recovery Program grants will be provided on a reimbursement basis with appropriate documentation. Applications are not reviewed or approved on a first come, first served basis. Instead, applications will be evaluated based on completion of application (application must be fully completed), priority analysis, review of financial position and the ability of a business to leverage these funds most effectively through the recovery effort to achieve long term success.
An Application Review committee, compromised of stakeholders throughout Weld County, will determine eligibility and grant amount. Awards will depend upon the number of applicants, availability of funds, and demonstrated need. Once funding decisions are made, applicants will receive a notification which will outline all terms and conditions of receiving the grant. The program reserves the right to offer awards different from the specified amount requested. Round 1 Assistance applications close September 30, 2020; grant awards distributed by October 31, 2020.
All applications will be reviewed on a case-by-case basis. If you have any eligibility questions, please contact Upstate Colorado, (970) 356-4565
The funds will be awarded after the application period closes and eligibility is evaluated. Upstate Colorado staff will process applications which will subsequently be reviewed and approved by an independent committee, compromised of stakeholders throughout Weld County.
The business must meet the published eligibility requirements:
restrictions or other challenges due to COVID-19;
Applicants must provide the following categories of documentation:
o Additional documentation may be required as requested by Upstate Colorado Economic Development. Examples of potential requests include:
To allow fairness across industry and business sectors, applications will be scored using an application that will take into consideration business size, cash flow and capital on hand. The business profile will include the following factors – each of which will receive a score:
o Ex. (Businesses that have received no other COVID-related relief funds or those that have received insufficient funding from other sources;
Businesses that meet several of these factors, as well as establish guidelines that they have experienced a significant decline in revenues due to COVID-19, will be prioritized for grants.
Applications will be processed over a 30 day period, with projected final disbursements of grant funds in October of 2020.
Non Profit organizations who have defined operational assistance related to COVID 19 recovery efforts to businesses in Weld County are also eligible to apply. Non Profits should complete the application to the best of their ability.