New program to help small businesses affected by COVID-19 pandemic
COLORADO SPRINGS, Colo. (KRDO) -- A new program called, Survive & Thrive: COS Grant has launched in an effort to help Colorado Springs small businesses affected by the negative impacts from the COVID-19 pandemic.
The City of Colorado Springs in partnership with Exponential Impact will be focusing on small businesses that were effected from the pandemic such as tourism, hospitality, event, sports, and performance venues. Businesses that didn't previously qualify for financial recovery will also be considered.
The City of Colorado Springs says businesses can receive up to $50,000 in grants. In addition, mentorship and learning opportunities will be available.
Businesses can use the grant for the following:
- Pay rent
- Maintenance
- Payroll
- Utility costs
The following businesses are eligible for the grant:
- Small businesses and micro-businesses between 1-500 full-time employees
- Non-profits that are 501(c)(3) or 501(c)(19) tax-exempt organizations
The City of Colorado Springs is receiving support from the American Plan Act (ARPA) allocation. More than $1.2 million is being used for the grant program.
