ArapCo unveils small biz relief plan
LITTLETON — Small- and medium-sized businesses across Arapahoe County have the opportunity to access fiscal assistance to help with recovery from the COVID-19 crisis.
Officials announced June 22 that the Arapahoe County CARES Program has commenced Advance Arapahoe, a $6 million grant program to provide support and retain jobs at businesses throughout the county. The county received $114.5 million in federal Coronavirus Aid, Relief & Economic Security (CARES) Act grant monies.
“This is one of the first grant programs we’re launching through the Arapahoe County CARES Program, and it will provide crucial relief to businesses most affected by the COVID-19 shutdowns,” said Arapahoe County Board of Commissioners chair Nancy Sharpe. “These small- and medium-size businesses are essential to our economy, and Arapahoe Advance is a step toward providing some stability through this transition to reopening.”
The first priority will be to fund employers within unincorporated areas, as most businesses within incorporated communities can apply to relief programs through those jurisdictions. Award preference also will be given for employers who commit to retain or bring back employees with the money.
Funds are available in two categories:
• Business interruption grants to support operational needs such as lease or mortgage payments, utility expenses, payroll expense, supplies, services and materials.
• Infrastructure/Personal Protective Equipment grants to purchase items needed to adapt a business to new processes or items that are required to operate in a different manner because of the COVID-19 crisis.
Grants up to $20,000, depending on the size of the company, are available in both categories.
Qualifying businesses must have operated a physical location in Arapahoe County on or before June 1, 2019; have 500 or fewer employees; be in good standing with regulatory agencies; meet minimum financial requirements; and retain at least one job (that meets low- to moderate-income requirements) as a result of the assistance.
Applications are due by Friday, July 10, or until the funds have been depleted.
For more information, visit arapahoegov.com.
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