Small Business Grants
Second-Round COVID-19 Small Business Support Grant Program
Town Council at its Sept. 1, 2020, meeting approved the second-round COVID-19 Small Business Support Grant Program, which for a limited time is offering non-home-based Castle Rock businesses the opportunity to apply for a grant of $5,000.
View the second-round grants approved by Council for award during October, which are based on the following criteria:
Funding priority will given to small businesses – defined as those with 25 full-time employees or less – that have frequent and/or close customer contacts, and whose business has been negatively and significantly interrupted by the pandemic. Categories of priority businesses include storefront retail, restaurants/food shops, and personal care small businesses (barbers, hair and nail salons, etc.). Franchises located within Castle Rock and whose franchisees also reside within Town are eligible.
Other small businesses will be considered for grants as funds are available, with lesser priority, if they meet program criteria. Ineligible businesses include liquor stores; auto- and construction-related businesses; regional businesses with more than five locations in Colorado; professional service businesses; and nonprofit organizations.
Staff during October will be undertaking a review of the professional service classifications made as Town grants were awarded and will bring Council recommendations for potential additional grant awards.
To qualify, a business must have been operating in Castle Rock for a minimum of one year prior to making application. Preference will be given to businesses that collected and remitted Town sales tax during 2019.
Additional program criteria:
- The business must have a physical and publicly accessible location in the Town of Castle Rock that is not based in a residence or coworking space.
- To be eligible, a business must be in good standing with the Town in regard to Town business licensure and sales tax and use tax returns. The business must further be operating in accordance with applicable laws and registered with the Colorado Secretary of State’s Office.
- The business must meet all established program criteria and agree to provide financial records to support its application – in essence, to submit to a program audit – upon the Town’s request.
- The business must have applied for a federal SBA loan and provide proof of application. (This does not need to be provided again if the business furnished this as part of the Town's first-round grant program.)
- Eligible businesses must provide evidence that the business has suffered interruptions to include a loss of revenue totaling at least $5,000 that can be attributed to the COVID-19 pandemic when comparing May-August 2020 to May-August 2019.
- Application period: Sept. 8-25, 2020 (closed at 5 p.m. Sept. 25)
- Application review period: through Oct. 1, 2020 – the review committee’s grant recommendations will be posted to this page by 5 p.m.
- Award of grants: Town Council will have final determination on grant awards as decided at the regularly scheduled Oct. 6, 2020, Town Council meeting
- Disbursement of grants: Grant checks will go into the mail to receiving businesses as soon as possible after approved by Town Council
The grant review committee will include representatives from Town staff, the Castle Rock Economic Development Council and the Castle Rock Chamber of Commerce.