Capital Project Assistance Funding for Businesses ($2,000)#
College and Trilby Capital Project Assistance Funding#
BACKGROUND
With funds from the American Rescue Plan Act (ARPA), the City of Fort Collins is offering financial assistance to businesses directly impacted by the 2023/2024 College and Trilby Intersection Improvement Project. These ARPA-funded payments are intended to help businesses mitigate the negative impacts of this capital construction project during their pandemic recovery.
In 2023 and 2024, the College and Trilby Intersection Improvement Project will affect operations for many businesses in, and near, the College and Trilby corridor. The Economic Health Office will provide one-time payments totaling $2,000 per applying business in the affected construction zone. These funds require submission of a record of spending directly tied to predictable construction impact mitigation, and to your business’s recovery from the COVID-19 pandemic. Marketing support, cleaning, and staff retention are examples of qualified spending, and should be detailed on the application. Due to limited availability of funds, awards will be based on eligibility, on a first come, first served basis.
ELIGIBILITY
Only businesses located on College Avenue / U.S. 287 between Smokey Street. and Lorian Lane, on Trilby Road between Kyle Avenue and Constellation Drive, and any business in the Smokey-Bueno Business Park are considered eligible.
If outside of the above stated geographic zone but is still impacted by a City of Fort Collins construction project, you may still be eligible. This funding expansion includes any Fort Collins business able to identify and define explicit negative impacts from a 2023/2024 City of Fort Collins construction project, as related to pandemic recovery. Utilize the application to best describe the related impacts.
The $2,000 Construction Assistance Funding will be merit-based, hinging on conclusive construction impacts detailed in the application. Applications will be scored based on factors related to the details and duration of the impacts on pandemic recovery.
APPLICATION PROCESS
Applications will be reviewed weekly until the application window closes Friday, December 22, 2023. The simplified application process only requires businesses to submit answers to the following questions:
- Name and address of your business and a copy of a valid W-9 for the business.
- Is your business address on College Avenue / U.S. 287 between Smokey Street and Lorian Lane, on Trilby Road between Kyle Avenue and Constellation Drive, or located in the Smokey-Bueno Business Park?
- Is your business registered, and in good standing, with both the Secretary of State in Colorado and the City of Fort Collins Sales Tax office.
- Was/Is your business directly impacted by COVID-19 and the 2023/2024 College and Trilby Intersection Improvement construction project? Provide a brief explanation, e.g., impacts on foot traffic, revenue, operations, etc.
- If awarded, how will the money mitigate construction impacts?
- If awarded, do you agree to report on your expenditures with the grant funds, including documentation, within 6 months of distribution?
Applicants will be notified of an award within four weeks of their application. Funds will be awarded six to eight weeks after application approval.
Small Business Funding Options#
Colorado OEDIT's Business Foundations Technical Assistance Program
The Business Foundations Technical Assistance program provides Colorado small businesses with technical assistance and small grants to help businesses legally establish themselves. This program includes 3 required training paths for business to complete: Legal Formation and Registration, Accounting and Finance, Digital Marketing and E-commerce.
Once completed participants may be eligible to apply for grants up to $1,200.
Eligibility:
- Any Colorado small business can take advantage of this program.
Colorado Enterprise Fund
The Colorado Enterprise Fund works with business owners and entrepreneurs who have previously had trouble securing a loan, need a smaller-than-average loan, or haven't borrowed money before. They provide loans up to $150,000 with low interest rates to start and/or grow your business.
The program also provides limited grant funds of up to 20% or $15,000 of the loan amount for startup businesses who have already been approved.
Eligibility:
- for profit entity
- 25 or less full-time employees
- less than $2 million/year gross annual revenue
Prairie Rose Development - Kiva Loans
Prairie Rose Development has partnered with Kiva, an international non-profit, to provide crowdfunded, 0% interest, and no fee small business loans up to $15,000. The Kiva Colorado team through Prairie Rose Development works with small businesses and entrepreneurs through the entire application, fundraising, and repayment process to help them succeed.
Eligibility:
- at least 18 years of age
- registered U.S. business
- not currently in bankruptcy or foreclosure
- not a franchise or multi-level marketing
General Construction Impact Grant#
Background
The Economic Health Office is offering financial assistance to businesses directly impacted by City Capital Construction. These one time, project based payments are intended to help businesses mitigate the negative impacts of capital construction.
The Economic Health Office will provide one-time payments totaling $2,000 per applying business in the affected construction zones. These funds should be directly tied to predictable construction impact mitigation. Marketing support, cleaning, and staff retention are examples of encouraged spending, and should be detailed on the application. Due to limited availability of funds, awards will be based on eligibility, on a first come, first served basis.
Eligibility
Any Fort Collins business able to identify and define explicit negative impacts from a 2024 City of Fort Collins construction project. Utilize the application to best describe the related impacts.
The $2,000 Construction Assistance Funding will be merit-based, hinging on the mitigation of conclusive construction impacts detailed in the application
Application Process
Applications will be reviewed weekly through out the year. The simplified application process only requires businesses to submit answers to the following questions:
- Name and address of your business and a copy of a valid W-9 for the business.
- Business registered, and in good standing, with both the Secretary of State in Colorado and City of Fort Collins Sales Tax office.
- What construction project is you business in, or adjacent to?
- Provide a brief explanation, e.g., impacts on foot traffic, revenue, operations, etc.
- If awarded, how will the money mitigate construction impacts?
- If awarded, do you agree to report on your expenditures with the grant funds, including documentation, within 6 months of distribution?
Applicants will be notified of an award within four weeks of their application. Funds will be awarded six to eight weeks after application approval.