A Senate bill passed during this month’s special legislative session will allocate over $35 million to the Colorado Department of Local Affairs (DOLA) to be distributed to small businesses across the state. 

The state has limited the types of businesses eligible to receive the funds to restaurants, bars, distilleries, wineries, breweries, caterers, movie theaters and fitness or recreational sports centers with an annual income of under $2.5 million. 

“Small businesses are a critical component of our community and are essentially to building Colorado’s economy back stronger than before,” Gov. Jared Polis said in a media release. “As a person who has run a business, I understand the challenges our small business community is facing during this challenging time.”  

In order for a business to be eligible they must:

• Have been founded prior to March 26
• Be in good standing with all licenses
• Have at least one employee unless it is a sole proprietorship
• Experienced at least 20% in lost revenue as a result of capacity restriction from the state’s public health order
• Be a corporation, limited liability company, partnership or sole proprietorship

Funds will be distributed from DOLA’s Division of Local Government Small Business Relief program to local counties, councils of governments, economic development districts and municipalities — if an individual county is unable or unwillingly to manage a program.

The Office of Economic Development and International Trade in partnership with the Colorado Department of Public Health and Environment are currently working with local entities. 

In order for local governments to be eligible for the program they must be within an county that currently has restrictions in place against indoor dining and events through Dec. 31, or were affected by these mandates as of Dec. 10, officials said. 

Local governments must apply to DOLA by Jan. 8 using the state agency application and will be based on a local entity’s population.

Officials say all of the money will be distributed by Jan 15, but 10%  will be reserved for counties with the biggest need and populations less than 100,000 people. 

More information about the small business grant program can be found online at https://cdola.colorado.gov/small-business-relief