Rent Relief Fund Makes Rent and Mortgage Aid Available to Loveland Businesses

Awards will not exceed $7,500 and will be based on the monthly lease or mortgage amount as well as the methods businesses use to re-invest the aid. Furthermore, awards through the program will be based on the impact of COVID-19, business impact on the community, and business viability for the upcoming year.

Eligibility requirements for businesses are as follows::

• Be registered Colorado small businesses or sole proprietorships, including LLCs, S-Corps, independently owned franchises, and other business types;
• Demonstrate economic hardship caused by the COVID-19 pandemic;
• Operate within Loveland’s city limits;
• Have 100 or fewer full-time equivalent (FTE) employees;
• Be current on all payments to the City of Loveland, including but not limited to sales tax, lodging tax, and water and electric utility payments.
• Not have received rental assistance through the separate Loveland Downtown Development Authority rent aid program.

Documents that are required to be submitted with applications are as follows:

• Copy of current rental/lease agreement
• Copy of most recent lease/rental payment
• Quarterly tax filings for Q1 and Q2 of 2019
• Quarterly tax filings for Q1 and Q2 of 2020
• Cash-Flow Projections for 2020-21 could strengthen an application but are not required.

Applications are being accepted online beginning Tuesday, September 15, 2020.

For more information regarding the rent relief fund or to apply, visit: www.lovelandeconomicdevelopment.org/loveland-business-rent-and-mortgage-relief-program/