Small business grants available in Fountain
Last updated 11/8/2021 at 5:21pm
The city of Fountain soon will distribute $250,000 in grant money for small businesses that suffered from the effects of COVID-19. Eligible businesses may receive up to $15,000 each if they can show they were negatively impacted by the pandemic.
The 2021 Business Impact Assistance Program (BIAP) is open to the following:
For profit brick and mortar businesses
Nonprofit organizations within the City of Fountain
Home-based businesses (network/direct marketing businesses not eligible)
Professionals that rent “booth” space from an established business location
This is the third round of Fountain’s BIAP. In 2020, the city had set aside $1.4 million of the $2.4 million in federal CARES funds received for COVID-19-related expenses and relief, which it released in the first two rounds of the BIAP.
In 2021, the city learned it would receive another $7.7 million in federal ARPA funds (American Rescue Plan Act). The City Council agreed to earmark $250,000 for the BIAP program.
The grants will be distributed as long as funds are available, with priority given to those who didn’t have the option to work from home; those whose owners are Fountain residents; non-franchise businesses; etc.
Other businesses and franchises operating in Fountain may qualify but would have lower priority.
Businesses are be eligible for the grants if they had 20 or fewer employees on March 10 (the date of the governor’s disaster declaration). The program caps distributions at $15,000 per business.
According to the application, “the program is open to home-based businesses, mobile food vendors, commercial landlords, non-profit entities, small businesses and restaurants with a brick-and-mortar presence within the city’s boundaries, including locally-owned franchises, that can document negative financial impacts resulting from COVID-19 such as increased costs, reduced revenues, reduced operating hours, employee layoffs/furloughs/pay cuts, etc.”
The program is quite similar to the previous rounds, but with a few changes, said Lexi Lee, city of Fountain executive assistant.
“We removed the per-employee/total eligibility cap,” she said. “Previously it was $3,000 per employee/$15,000 max for brick-and-mortar/commercial businesses. Now it is $15,000 maximum.”
The city also asks that if previous funding was received, how those funds were utilized for the business.
If you are a licensed service provider, you must provide a copy of that license.
If you are self employed, you must provide 1099s for proof of wages.
Applications will be reviewed in batches instead of weekly. The first review will be Friday, Nov. 19.
Applications for the grants are available online now at http://www.fountaincolorado.org/BIAP.