Denver announces new funding opportunity for small businesses
Timothy Hurst/The Denver Gazette
Denver Economic Development and Opportunity is partnering with Mile High United Way to provide $5 million in assistance to small businesses through American Rescue Plan Act funding.
The program is intended to support local businesses impacted by factors exacerbated by the pandemic such as displacement, disruption from construction, operating challenges or neighborhood safety. Mile High United Way will administer the program, which will provide grants of up to $15,000, as well as technical assistance for eviction, lease negation and other issues.
“Denver is proud to continuously refine and expand its ambitious small business relief and recovery systems, with this latest funding opportunity representing the best practices we’ve developed over the past two years,” Mayor Michael Hancock said in a release. “Combining cash assistance with intensive capacity-building services for disadvantaged small businesses makes this our most comprehensive, targeted business recovery program yet.”
Assistance will be split into three categories: stabilization, activation and anti-displacement. Eligibility includes businesses on the Neighborhood Recovery Index, businesses in travel, tourism or hospitality and businesses demonstrating at least an 8% loss of employees from pre-pandemic levels. Those applying for a stabilization grant will need to go through a financial review to demonstrate revenue loss from the pandemic.
“We believe that this broad spectrum of recovery assistance provides options for our small businesses, and while their individual needs vary greatly, one element all pandemic-affected small businesses have in common is that their challenges are ongoing,” Jen Morris, the city’s executive director of economic development, said in a release. “We’re excited to get these much-needed federal dollars into the hands of our small businesses.”
Applications will be available on the city’s website through 5 p.m. June 13.




