Energize Colorado Gap Fund Grant Funding
The Energize Colorado Gap Fund program was announced in July 2020, as a combined effort between public funding from the CARES Act and private funding from Colorado donors. The intent of the program is to help sole proprietors, businesses, and nonprofits in support of tourism industries, with fewer than 25 full time employees by offering grants up to $15,000 and loans up to $20,000. Thousands of applications were submitted state-wide, with over 600 applicants from the northwest Colorado region. Within that portion of Colorado, the Northwest Loan Fund (NLF), a 501c6 that makes business loans in the NW quarter of the State, was asked to score and verify applications, and administer funds for NW Colorado. During the first round of applications, $545,748 in grant funding was awarded, with $1,128,246 awarded in the second round accounting for grant funding being granted to over 20% of the applicants. Here is a testimonial from a happy recipient:
"I would like to extend my profuse gratitude for the Energize CO Grant. As a small business in ski country, the effects of COVID 19 to our business have been extreme. Small businesses rarely have access to the capital to modify their spaces the way large corporations do. This grant will allow my small business to adapt our outdoor seating for winter, update our HVAC system with MERV+13 filters, and provide a small closure buffer. Thank you very much for this award." -Erin Young, Owner Red Buffalo Coffee & Tea, Silverthorne, CO
