American Recovery Plan Act (ARPA) funds to provide cash grants in addition to technical assistance from local capacity-building providers
In a substantial boost to its ongoing recovery work for local small businesses, Denver Economic Development & Opportunity (DEDO) in partnership with Mile High United Way is now accepting applications for assistance through a $5M program to support and sustain small businesses facing displacement, disruption from construction, operating challenges, or neighborhood safety—all factors exacerbated by the pandemic.
As a contracted partner, Mile High United Way will administer the program citywide, engaging a network of experienced community partners to deliver business supports and tools.
“Denver is proud to continuously refine and expand its ambitious small business relief and recovery systems, with this latest funding opportunity representing the best practices we’ve developed over the past two years,” said Mayor Michael B. Hancock. “Combining cash assistance with intensive capacity building services for disadvantaged small businesses makes this our most comprehensive, targeted business recovery program yet.”
Assistance will take the form of grants up to $15,000 as well as targeted technical assistance in areas like eviction, lease negotiation, and other urgent issues—all to help struggling small businesses survive today and better withstand future economic disruptions.
Grant and technical assistance categories include:
• Stabilization: To mitigate post-pandemic operating challenges such as depleted cash reserves, a shrinking customer base, supply chain problems, and hiring issues.
• Activation: To increase safety and revitalize neighborhoods by addressing the compounded problems of increased vacancies, service gaps, and blighted commercial corridors.
• Anti-displacement: To help businesses affected by public construction projects with replacement revenue, lease negotiations, eviction prevention, and better security systems. Relocation assistance will be available where impending new development makes remaining in place impossible.
“We believe that this broad spectrum of recovery assistance provides options for our small businesses, and while their individual needs vary greatly, one element all pandemic-affected small businesses have in common is that their challenges are ongoing. We’re excited to get these much- needed federal dollars into the hands of our small businesses,” said Jen Morris, DEDO Executive Director.
“This wraparound approach of both grants and custom technical assistance from community-based partners in this program gives us confidence that we can help prevent further businesses losses and amplify the recovery that is underway,” said Tricia Allen, Vice President – Community Impact at Mile High United Way.
A range of eligibility factors include businesses located on the city’s Neighborhood Recovery Index; businesses in the travel, tourism, or hospitality sectors, or businesses demonstrating at least an 8 percent loss of employees from pre-pandemic levels. Stabilization grant applicants will undergo a financial review to demonstrate pandemic revenue losses.
Applications and program information is available online. Applications are due by 5 p.m. on June 13, 2022.
