El Paso County to distribute second round of relief act funds
EL PASO COUNTY, Colo., (KRDO) - El Paso County is distributing the second round of the American Rescue Plan Act Funds to small businesses and non-profits across the county. This is part of their commitment to the long-term recovery of local small businesses and nonprofits.
The Regional Businesses Relief Fund will look to provide assistance to local businesses and nonprofits that are still struggling to make ends meet.
“Small businesses across El Paso County, both for-profit and non-profit, experienced unprecedented challenges and disruptions from the pandemic, shared Stan VanderWerf, El Paso County Board Chair. “Our Regional Business Relief Fund grants will help these companies and our unemployment numbers return to their pre-COVID levels. Thriving small businesses and job opportunities are crucial for full economic recovery in our region. Funding programs that achieve these goals are the right thing to do.”
The funds under the El Paso County Regional Business Relief Fund program will be dispensed through a competitive grant application process. Recipients will be awarded a grant rather instead of a loan and will not have to pay the funds back.
El Paso County businesses and nonprofits with fewer than 500 employees are encouraged to apply to receive a grant of up to $20,000. The funds can be used to pay for expenses and any economic hardship a business faced due to COVID-19. These funds can cover costs such as rent and mortgage, utilities, employee payroll, accounts payable, fixed debt, personal protection equipment any marketing costs related with business recovery. The funds, however, cannot be used for taxes or tax debt.
The application process will open on June 29, 2021, at 8:00 AM and will remain open through July 16, 2021, at 5:00 PM. Applications can be submitted online via the CEF website here. The website also has more information on eligibility requirements, as well as a list of FAQs.
Additionally, El Paso County Economic Development and CEF are partnering with the Pikes Peak Workforce Center and Pikes Peak Small Business Development Center to offer additional business support programming to our community. This includes an upcoming, free, in-person technical assistance opportunity with the SBDC on Thursday, July 8 from 9 – 6 p.m. at Pikes Peak Community College - Rampart Campus. More information on this in-person opportunity can be found here. Registration is encouraged for this event, however, walk-ins are welcome.
