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COVID-19

Deadline for state small business grant and loan program is near!

Hello, ALG community. I am reaching out to be sure that you have been notified about the opening of the second round of applications for the Energize Colorado Gap Fund. Applications for the second round are due by October 26th.

Round one had an amazing response and the Gap Fund is looking forward to helping Colorado’s small businesses.

Governor Jared Polis today announced that the state will be allocating $6 million to the Energize Gap Fund. This fund specifically targets assistance towards businesses and nonprofits that have been hardest hit by the statewide shutdown and that have limited or no access to other means of financing through federal, state, or local programs.

With this important addition, the Gap Fund will now provide $31 million in small business loans and grants to boost small business enterprises that are the economic engines throughout the state. Sole proprietors, small businesses (LLC, S/C Corporations) and nonprofit organizations with fewer than 25 full-time employees can apply for up to a possible combined total of $35,000 in financial assistance, with a $15,000 grant and a $20,000 low-interest loan.

+ If you are a small business/non-profit that has already applied to the Gap Fund, here’s what you need to know:

  • If you had started the eligibility or application process but had not submitted your application, you may do so now!
  • If you have already submitted an application, you will receive a communication regarding your submission in the coming weeks.  Please do not resubmit unless an email has instructed you to do so.

+ If you have not yet applied to the Gap Fund but would like to, please begin the process now by visiting the website here.

It is not too late, if you need assistance with submitting an application to the Gap Fund, please watch these short videos:

Energize Colorado’s mentor program and technical assistance team is available to Colorado’s small businesses. Please note that if you have submitted an application and have not been contacted yet, we ask that you wait for that communication before following up with the Gap Fund team.

If you need assistance with the submission of your application, contact: 1-800-471-0628 or email [email protected].  (Mon.-Fri. 6 a.m.-8 p.m., Sat.-Sun. 6 a.m.-3 p.m.)

I would like to share the following video with the Governor speaking about Energize Colorado Gap Fund in Spanish and addressing Colorado’s business bilingual community. In the first round, we saw 6,000 applications submitted, requesting $79 million in grants and $56 million in loans.

Please feel free to call or email me for additional support on webinars, practical presentations or consulting related to the application process from the Minority Business Office of Colorado.

Rosy Aburto McDonough
Rosy Aburto McDonough has been a business consultant and mentor throughout her professional career. She is currently the Director of the Colorado Minority Business Office at the Office of Economic Development and International Trade (OEDIT). McDonough has created and develop statewide vision for OEDIT focused on support for small, minority, women, and veteran-owned businesses. Established annual performance measures, impact goals, and led staff in the implementation of the strategic and operational plan.

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