Local businesses and nonprofits get more than $13 million in grant money
EL PASO COUNTY, Colo. (KRDO) — El Paso County’s Economic Development Department awarded $13,858,527 in grants to 864 local small businesses and nonprofits, according to a press release from the county.
The grants are a part of the El Paso County Regional Business Relief Fund program. A county spokesperson said it is one of the largest COVID-19 relief programs in the nation led by a local county government.
The money for the grants comes from CARES Act funds that the county commissioners gave to the Regional Business Relief Fund program.
The county said 864 businesses received grants. Of those businesses, 734 are small businesses and 130 are nonprofits.
According to the county, 484 recipients identified as veteran, women or minority-owned businesses and nonprofits. The average amount awarded through the program is $16,039.
“Small businesses and nonprofits are critical to El Paso County’s economic development ecosystem,” Crystal LaTier, Executive Director of El Paso County’s Economic Development Department said.
“They not only bring character and vitality to our community, but they also financially support the great residents of our region.”
Business owners can use the money to cover costs such as rent and mortgage assistance, utility payments, employee payroll, accounts payable, and other fixed debt costs, as well as personal protection equipment.
The grant money cannot be used for taxes or tax debt. The county said recipients of the grants will not have to pay the money back.
El Paso County’s Economic Development Department will begin announcing awards to the applicants of the Regional Business Relief Fund on Wednesday.
The Pikes Peak Small Business Development Center and Pikes Peak Workforce Center are also offering all the applicants access to free business support resources.
The county is not currently accepting any new applications for the El Paso County Regional Business Relief Fund.
