The City of Fort Collins is launching expanded criteria and new criteria for single employee businesses for the Small Business Assitance Program to provide relief to businesses and nonprofits affected by the COVID-19 pandemic.
The Small Business Assitance Program is a $1.6 million financial assistance program working through Coronavirus Relief Federal funds. The first phase of the program closed Wednesday, September 23 with the next phase of the program launched on Wednesday, September 30. Furthermore, the second phase of the program includes a change in criteria for the existing program as well as an expansion of the program to include single employee businesses.
The expanded eligibility criteria will allow businesses & nonprofits to apply for up to $5,000 if they have the following:
- Previously received over $50,000 from other COVID-related grant and loan programs (these entities were previously ineligible)
- 2-20 *full-time employees (including the owner)
- Physically located within the City of Fort Collins boundaries
- Gross revenue under $2M
- In operation since July 1, 2019
- Active sales tax license
- No unpaid code enforcement liens
- Verifiable loss of income
- Lawful presence
The new expansion program will allow businesses & nonprofits to apply for up to $2,500 if they have the following:
- 1 employee (including the owner)
- Physically located within the City of Fort Collins boundaries
- Gross revenue between $50,000 and $2M
- In operation since July 1, 2019
- Active sales tax license
- No unpaid code enforcement liens
- Verifiable loss of income
- Lawful presence
This assistance from the program will not be required to be repaid. Additionally, there will be two separate applications with one for the expanded criteria and one for single employee organizations opening Wednesday, September 30 through Wednesday, October 7.
For more information regarding the City of Fort Collins Small Business Assistance Program, including to apply, visit: fcogv.com/business