Montrose, COLO.—Help is on the way for many small businesses within Montrose County. Earlier this week, the board of county commissioners approved an agreement with Region 10 League for Economic Assistance and Planning, Inc., to administer $300,000 of Coronavirus Relief Fund dollars through grants to small businesses impacted by the pandemic. Grant awards are up to $10,000 each.
“I am very concerned about the economic impact of the pandemic,” said Commissioner Sue Hansen. “The county has been working with Region 10 to monitor local economic conditions and create long-term projections. Several of our local small businesses have experienced a decrease in overall businesses and the board is committed to helping foster a thriving local economy.”
“We’re fortunate to have a partner like Region 10 that can help get these grants to businesses quickly,” said Deputy County Manager Jon Waschbusch.
“We are pleased to work with the County to provide assistance to our small businesses which have been impacted by the shift in the economy due to the pandemic,” said Region 10 Executive Director Michelle Haynes. “Many of these businesses are the base of our Main Street communities and economies, and we want to have them remain a key contributor during and after this challenging time.”
Businesses with less than 25 employees, less than $2.5 million in annual gross revenue, whether or not they are publicly traded, whether an applicant business contributes towards the fulfillment of community economic development goals as defined by Region 10, and whether an applicant business has received funding through the Paycheck Protection Program administered by the Small Business Administration will receive additional consideration. Non-profit corporations are not eligible for grant awards.
To apply for a grant, businesses may contact Region 10 at 970-765-3134 or 970-765-3126 or visit https://region10.net/businesses-resources/access-to-capital/ .