City of Boulder Program Approves 201 Small Business Grants Totaling More Than $675,000
Grants totaling more than $675,000 have been approved for 201 small businesses and nonprofits in Boulder through a City of Boulder program providing COVID-19 related assistance using CARES Act funds.
The city opened the grant applications, available in both English and Spanish, on Aug. 31 for two weeks and received 224 completed applications. The program was open to Boulder-based businesses and 501c3 nonprofits with 100 or fewer employees that met other eligibility criteria.
This round of small business grants is funded through the allocation of federal Coronavirus Aid, Relief, and Economic Security (CARES) Act dollars furthering resource provision addressing the ongoing pandemic’s impacts. In addition to programs ensuring continued safe city operations/services and providing direct resident assistance through the City of Boulder Housing and Human Services Department, this city-offered grants program responds to the community’s many evolving needs at this challenging time.
The city retained the third-party Colorado Enterprise Fund (CEF), a nonprofit community development financial institution (CDFI), to administer the program. Applications were evaluated by CEF and a panel of representatives of nonprofit organizations that serve local businesses and nonprofits. All panelists were required to sign conflict of interest and confidentiality statements before participating, and their organizations were unable to seek support under the program.
Ninety percent of the 224 applications received were approved for grants through the program. Of the 201 businesses and nonprofits approved to receive a grant, 41% self-identified as women-owned businesses, 21% self-identified as minority-owned businesses and 16% are local nonprofit organizations. Nearly 90% have between two and 49 employees, and 84% have operated in Boulder longer than five years.
For additional City of Boulder COVID-19 information, please visit: https://bouldercolorado.gov/coronavirus, and for COVID-19 business resource information, please visit: https://bouldercolorado.gov/coronavirus-business-resources.
Jennifer Bray, media relations, 720-413-4215
Published Oct. 6, 2020