Applications are now being accepted.
Apply for the Elevate Small Business Grant
The City of Northglenn is offering a one-time Elevate Small Business Grant (ESBG) to qualified businesses with 25 or fewer full-time equivalent (FTE) employees.
Grant funds are to be used solely to pay for fifty-percent (50%) of two months of rent/mortgage obligations, not to exceed $6,000, to bridge the gap until other funding sources can be secured through personal loans and federal relief programs.
Grants will be awarded generally on a first-come, first-served basis, subject to funding availability. However, the City reserves the right to award grant funds to support participation across every area of the City as well as to support diverse businesses.
Use of Funds
The funds are to be used by qualifying businesses solely to pay for fifty-percent (50%) of two months of rent and associated expenses (common area maintenance, etc.) or mortgage payments and associated expenses (principal, interest and HOA fees) not to exceed $6,000. The grant funds can be used for 50% of rent/mortgage payments from March 17 through June 30, 2020.
To qualify for the ESBG, a business must meet all of the following criteria:
- Must have a physical Northglenn business, not located in a residence, that has been in operation for at least six (6) months prior to May 1, 2020.
- Must be in good standing with the City of Northglenn for any permits, licenses, utilities, and taxes as of March 17, 2020.
- Must have 25 or less full-time equivalent (FTEs). Documentation is required reflecting the monthly payroll and number of FTEs for February 2020.
- Businesses with multiple physical locations in the City of Northglenn may apply for the grant program for only one location. The FTE count shall be based only on the specific location applying for the grant.
- Individually owned franchise operators are eligible.
- Locally-owned and operated businesses (owner resides in Colorado and manages business at identified location).
- Businesses must demonstrate a financial need for this grant, which may include, but is not limited to the required supporting documentation.
- More than 25 FTE employees
- Less than 6 months in business in Northglenn
- Corporately-owned national chain businesses
- Not in good standing with Northglenn
- Banks, credit unions & other related financial institutions
- Storage, real estate, brokers, property management & assisted living
- Non-Profit, churches, schools & hospitals
- If a business is renting (sub-leasing) space, in a larger space from another business they are not eligible (ex. hair salons, massage therapists, skin care businesses that rent space or booth space).
Required Supporting Documentation
- Application: Complete online application at www.northglenn.org/elevategrant
- Financial: Financial statements for six (6) months (only balance sheet and profit & loss statements) or 2019 941 tax returns
- Payroll: Documentation of total payroll for February 2020 (include number of part-time and full-time employees)
- Other Assistance: Evidence that you have applied for SBA grants/loans, other financing, or financial assistance for your future viability of operations due to lost revenue from COVID-19 (such as, but not limited, documentation or email correspondence that you have tried to get financing from your bank/lender, rent/mortgage deferral requests, evidence of working with your suppliers or other creditors for a payment plan, SBA filing number, etc.).
- Rent/Mortgage Payment: Supporting documentation indicating your monthly rent or mortgage payment amount
- W-9 Form
Awards and Disbursement of Funds
A Grant Taskforce will determine eligibility and determine the grant amount. Awards will depend upon the number of applicants, availability of funds and demonstrated need.
Grants will be awarded generally on a first-come, first-served basis based on the time a qualifying business’s application is filed with the City, subject to funding availability. However, the City reserves the right to award grant funds to support participation across every area of the City as well as to support diverse business types.
Applicants who are awarded funding under the program will receive a Project Award notification with an Agreement which will outline all terms and conditions. Once the Agreement is executed and returned, a check will be processed (may take up to three weeks).
Upon grant approval and receipt of the executed Agreement:
a. The first installment will be awarded in the amount of fifty-percent (50%) of the first month's rent/mortgage payment not to exceed $3,000.
b. After receiving proof of payment in full for the first month's rent/mortgage, the second installment of the grant will be awarded in the amount of fifty-percent (50%) of the second month's rent/mortgage payment not to exceed $3,000.
c. A total grant award of fifty-percent (50%) of two months' rent/mortgage payments not to exceed $6,000.
d. All proof of payments must be emailed to:
- Shannon Fields
Applications can be completed at www.northglenn.org/elevategrant. Applicants must complete and sign the application and attach ALL required documentation.
Only complete applications will be accepted, and all submissions will become the property of the City of Northglenn.