Jefferson County has opened up applications for a COVID-19 grant program that could provide small businesses with up to $7,000 in relief payments.

On Dec. 7, Gov. Jared Polis signed Senate Bill 20B-001 into law. That bill provides $57 million in direct aid, grants and annual fee waivers to small businesses that have been impacted by the COVID-19 pandemic. It also creates grant programs and allocates funds specifically for art and culture organizations as well as minority-owned businesses.

The state has alloted $37 million for direct relief payments to small business located in counties that are are subject to, and in compliance with, severe capacity restrictions that have resulted from public health orders such as those currently impacting Jeffco. Jeffco has applied for funding to distribute funds to eligible businesses in Jeffco but not yet received word about how much will be allocated to it.

Grant amounts

The state has set the following dollar limits for grants under the program:

Businesses with annual reciepts of less than $500,000 are eligible to recieve a grant of up to $3,500

Businesses with annual reciepts of between $500,000 and $1 million are eligible to recieve a grant of up to $5,000

Businesses with reciepts greater than $1 million but less than $2.5 million are eligible to recieve a grant of up to $7,000

While those are the maximum grant amounts, the actual amount of each grant may be lower depending on applicants and funding received from the state.

If Jefferson County makes payments to all eligible entities that have applied and has funding left over, the county may give awards to small businesses that have annual reciepts greater than $2.5 million but still meet all other eligibility requirements.

Timeline

The application period will be open until 6 p.m. on Monday, Jan. 25. Relief payments will be distributed by Jefferson County no later than Feb. 12, 2021.

Eligibility

The following businesses are eligible to apply for the grants: Restaurants, bars with established liquor licenses (including breweries and wineries), caterers, movie theaters and fitness and recreation centers.

Eligible businesses must either have at least one full-time employee or be a sole proprietorship. They must also have been in operation on or before March 26, 2020 and intend to remain in operation for at least six months.

Finally, businesses must be able to demonstrate at least 20% revenue loss compared to their 2019 gross receipts or have opened between Jan. 1 and March 26 of 2020. Revenues will be assessed through 2019 and 2020 sales tax submissions to the state.

How to apply

Businesses can complete an online application at www.jeffco.us/FormCenter/Emergency-Grants-Program-53/COVID19-Relief-and-Funding-Small-Busines-296. Businesses will need to provide their W9 form, sales tax submissions, business license and NAICS code as part of their application.