Small Business Grants
COVID-19 Small Business Support Grant Program
Town Council at its April 7, 2020, meeting approved the 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 up to $5,000. Town Council funded the program at $200,000, so assistance is available for at least 40 businesses.
Funding priority will given to small businesses – defined as those with 25 employees or less – that have frequent and/or close customer contacts, and whose business has been negatively and significantly impacted by stay-at-home orders required 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.
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.
- Eligible businesses must provide a statement or other evidence that the business has suffered economic harm (e.g. loss of revenue or income, employee lay-off, etc.) between March 1, 2020, and the date of the application that can be attributed to the COVID-19 pandemic and/or the subsequent State of Colorado public health orders mandating restricted or closed business practices.
- Businesses are required to provide information, via an online application, on how granted funds will be used.
- 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 upon the Town’s request.
- The business must have applied for a federal SBA loan and provide proof of application.
- Application period: April 9-16, 2020 (applications are due by 5 p.m. April 16)
- Application review period: through April 20, 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 April 21, 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.