Small Business Recovery Grants Still Available
Published on 30 June 2020
In partnership with Arapahoe County, Centennial’s City Council has directed $5 million of City funding to be used to support our small business community. The Centennial CARES: Small Business Grants are intended to help small businesses in Centennial who have been impacted by the COVID-19 pandemic with reopening and adapting to COVID-19 compliance requirements.
The grant application process is NOW OPEN. Notifying businesses of this upcoming program in advance allows eligible businesses to begin preparations to submit an application. Centennial businesses are encouraged to visit www.centennialco.gov/caresgrants to review the eligibility criteria and information required to submit a complete application. Applications will be reviewed in the order they are received.
Eligible businesses could receive up to $30,000 in two separate grants. The Business Interruption Grant will be awarded at an amount up to $10,000 to eligible businesses for business operation expenses including, but not limited to, lease/mortgage, payroll, inventory, and supplies/equipment necessary to operate the business. The Business Infrastructure and PPE Grant will be awarded for up to $20,000 to eligible businesses for expense incurred or planned to facilitate compliance with public health orders. Expenditures may include, but are not limited to, building and property modifications, touchless payment systems, online ordering platforms, personal protective equipment, and safety training.
“Our businesses have experienced unpredictable and unprecedented impacts throughout these last few months. The City is pleased that we can assist in providing support to them through the CARES Act funding shared from Arapahoe County”, says Centennial Mayor Stephanie Piko. “Our local businesses are imperative to the health and well-being of our community and Centennial is now able to respond to their need for financial support.”
Grant payments to businesses are expected to begin as early as the week of June 22.
Business Eligibility Requirements:
- Currently licensed with the City of Centennial
- Business license issued no later than October 1, 2019
- Physical address within Centennial
- Business is in good standing with the City of Centennial (tax returns, code violations, etc.)
- For-profit, privately-held business
- 1-100 full-time equivalent Full Time Employees (FTE) positions prior to COVID-19 pandemic
- Business has been forced to temporarily close or forced to dramatically limit operations due to the Public Health Orders related to the COVID-19 public health crisis
- Able to demonstrate economic injury of 25% or more in revenue loss during the COVID-19 pandemic and a need for a grant to help mitigate the economic injury
- Able to provide a total estimate of current and anticipated business losses (revenue and other losses) due to the pandemic.
The following list of business types are not eligible:
- Any expense not be considered an eligible business expense by IRS rules
- Wages to any member of owner’s family who is not a bona fide employee
- Charitable contributions
- Political contributions
- Draw or salary to owner that exceeded the amount they were paid on a weekly or monthly basis for the same period last year
- Pay down or pay off debt by more than required in underlying debt instrument
- Expenses that were previously paid for using Federal Small Business Administration (SBA) Payroll Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) Funds
- Franchise or royalty fees
- National chains (exception: individually owned franchises may qualify)
- Publicly-traded companies
- Businesses deriving more than one-third of gross annual revenue from legal gambling activities
- Businesses engaged in any illegal activity
- Marijuana (medical and recreational)
- Sexually-oriented businesses
Prohibited uses of funds:
For additional information on the application and the process visit centennialco.gov/caresgrants.