The City of Colorado Springs and Exponential Impact are launching the Survive & Thrive: Propel COS Grant program to help local businesses that are struggling with negative impacts from the COVID-19 pandemic.
The City of Colorado Springs and Exponential Impact will host a media briefing on the launch of the program today at 11 a.m. in Room 102 of the City Administration Building.
The third iteration of the Survive & Thrive program, this round of funding will be focused on applications from businesses that were hardest hit from the pandemic, like tourism, hospitality, and event, sports, and performance venues. Businesses that were ineligible for previous financial recovery opportunities will also be prioritized.
Businesses can receive up to $50,000 in grants, along with mentorship and learning opportunities. The grant can be used to pay for rent, maintenance, payroll and utility costs. Businesses who are eligible include small businesses and micro-businesses between 1-500 full-time employees and non-profits that are 501(c)(3) or 501(c)(19) tax-exempt organizations
The City is financially supporting this endeavor through their American Rescue Plan Act (ARPA) allocation. The ARPA allocation being used for this grant program is slightly over $1.2M.
Applications will open on Wednesday, August 10 and close on Friday, September 2, 2022.
Full eligibility details and additional application information is available at exponentialimpact.com/surviveandthrive.