Adams County Expands Small Business Stabilization Program To Help Job Retention
ADAMS COUNTY, Colo. (CBS4)- Adams County is trying to help its small businesses during the coronavirus pandemic by expanding a program to help keep employees. The county has established the Small Business Stabilization Program to provide local businesses with grants up to $35,000 to retain jobs.
The grant program has been expanded to include businesses with up to 50 full-time employees. The initial program included business with up to 25 employees. The program will also allow small businesses in Westminster to apply.
According to Adams County, the grants for the Small Business Stabilization Program are paid for by the Community Development Block Grant (CDBG) program and Community Development Block Grant Coronavirus funds from the U.S. Department of Housing and Urban Development (HUD).
"As we continue to grapple with COVID-19, we wanted to expand the pool of businesses eligible for these grants," said Commissioner Mary Hodge, champion of the Business Support Response & Recovery Team, in a statement. "While we've made great strides since we initially offered these grants in May, there is still a financial need on behalf of both small businesses and their employees as we continue to recover from this crisis."
Additional Information from Adams County:
Businesses can apply now and the program will remain going until all funds are distributed. Applicants may call 720.523.6200 or email CommDev@adcogov.org for more information.
- The business must have 1-50 full-time employees (FTEs) and been operating as of Feb. 12, 2019.
- The business must have a physical establishment and address within unincorporated Adams County; the cities of Northglenn, Brighton, Westminster, or Federal Heights; or the Town of Bennett.
- Businesses with more than one physical location may apply for the grant program for one location only.
- The business must have experienced a loss of revenue due to Public Health Orders enacted for COVID-19.
- The business owner must demonstrate how the grant will retain jobs at least one full-time equivalent job (1,750 hours annually) or two permanent part-time jobs (at least 875 hours each annually) for individuals whose households earn 80% of the Area Median Income or less, as specified on the Small Business Stabilization Program website.
- Applicants must be able to demonstrate they were unable to obtain federal Small Business
- Administration assistance or did not receive enough assistance.
- Awards will be made on a first-come, first-served basis and in proportion to the contribution made from the contributing jurisdiction.
- The award amount will be determined based on the demonstrated need, up to $35,000.
