The Town of Eaton wants to help nurture existing local businesses and diversify the local economy. We want to build relationships that help support the needs of businesses which are the backbone of our thriving community. The following resources are to help new and existing businesses find the resources they need to flourish.
ELIGIBLE SMALL BUSINESSES IN THE TOWN OF EATON CAN
APPLY FOR A COVID RELIEF PAYMENT
The Small Business Relief (SBR) Program is a State of Colorado program created during the recent legislative Special Session under Senate Bill 20B-001. The program makes $37 million available to small businesses in the restaurant, bar, fitness and recreational sports, and movie theatre industries that have suffered at least a 20% reduction in profits during the pandemic.
The legislation created a short window of opportunity for the program. To ensure eligible Eaton businesses have every opportunity to apply before the program closes, SBR applications are now being accepted. The application will close on February 8, 2021.
Award amounts will depend on the total number of qualified businesses and funding available. Funding decisions will be made on or around February 10, 2021. Relief grants will be issued by February 19, 2021. Approved businesses will receive paper checks in the mail or can pick them up via appointment at Town Hall or can be delivered to your place of business via appointment – no direct deposits – and an IRS form 1099 will be issued.
Program Overview -
Applications for the Small Business Relief (SBR) Program for the Town of Eaton will be available Monday, January 18, 2021, through Monday, February 8, 2021.
These one-time relief payments, authorized by Senate Bill 20B-001 are available to locally owned small businesses that have been impacted by COVID-19 restrictions including restaurants, bars, breweries, wineries, distilleries, fitness and recreational sports centers, caterers, and movie theaters. Please refer to the Act created by Senate Bill 20B-001 and the Frequently Asked Questions (FAQ) for additional information on this State program.
Businesses that are currently operating, and have a reduced revenue of at least 20% due to capacity restrictions from public health orders, may be eligible for funding:
- Businesses with less than $500,000 in revenue (2019) may receive up to $3,500.
- Businesses with revenue between $500,000 and $1 million (2019) may receive up to $5,000.
- Businesses with revenue between $1 million and $2.5 million (2019) may receive a payment up to $7,000.
Eligibility Requirements -
- Business must be in the restaurant, bar, caterer or fitness and recreational sports industries, or in one of the other eligible industries identified in State Bill 20B-001. The business must be able to provide current State licenses verification of good standing and legal operation in Colorado.
- Business must have or have applied for a current (2021) Town of Eaton business license.
- Business headquarters must be located in and is doing business in Colorado.
- Business must have at least 20% revenue loss since March 26, 2020 (except businesses that began operations between Jan 1 and March 26, 2020).
- Business must have less than $2.5M in revenue for the 2019 and 2020 calendar years.
- Business must have at least one full-time employee except for sole proprietorships.
- Business must have started regular business operations before March 26, 2020.
- Business must be in compliance with public health orders.
Businesses that are NOT eligible -
- Businesses owned or operated by officials or employees of the Town of Eaton.
- Businesses whose regular ongoing operations started after March 26, 2020.
- Corporate-Owned franchises and/or publicly traded companies. (Locally owned, independent franchises are eligible.)
- Businesses that do not intend to continue operating in the State for at least six months after receipt of funding.
- Businesses operating in violation of any State, Federal, or local laws.
- Nonprofit organizations
Application Process -
Applications will be accepted through the close of business on Monday, February 8, 2021.
Town of Eaton businesses are encouraged to apply as soon as possible. The window for applications is very short, and follow-up materials may be requested after application submittal to ensure businesses have met eligibility requirements.
Please submit your SBR application through email to Jeff@eatonco.org or via appointment with the Town Administrator, Jeff Schreier, before the close of business Monday, February 8, 2021.
Award amounts will depend on the total number of qualified businesses and funding available. Funding decisions will be made on or around February 10, 2021. Relief grants will be issued by February 19, 2021. Approved businesses will receive paper checks in the mail or can opt to pick them up at Town Hall via appointment can be delivered to your place of business via appointment – no direct deposits – and an IRS form 1099 will be issued.
ITEMS YOU WILL NEED -
● Completed grant application. Grant Application Form
● A completed W9 form.
● Evidence that the business is headquartered in and doing business in Colorado within the appropriate local government area.
● Verification of your Colorado Income Tax Account Number or Tax Exempt Certificate Number.
● NAICS code indicating an eligible industry.
● Evidence of at least a 20% reduction in revenue since March 26, 2020 due to restrictions. This is not required for businesses that began operations between January 1, 2020 and March 26, 2020.
● Valid business license in good standing (ex. Certificate of Good Standing from the Secretary of State).
● Evidence that the business is either a sole proprietorship or has at least one full time employee.
● Evidence that the business had less than $2.5 million in sales in 2019. Businesses that started operations between January 1, 2020 and March 26, 2020 should provide evidence that calendar year 2020 sales are less than $2.5 million.
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COVID-19 Disaster Relief Resources
Prospective and Existing Business Resources
The East Colorado Small Business Development Center provides training, business tools, and consulting to help you maximize your economic potential.
Upstate Colorado provides assistance, data, and incentive information to new and existing businesses.
MyBizColorado provides a single path to interact with multiple state agencies, cutting red tape and expediting the process for a business start-up.
The Better Business Bureau of Northern Colorado provides ethics based assessments, training and recognition programs for businesses, consumers, nonprofits and students in Northern Colorado.
The Eaton Area Chamber of Commerce strives to create healthy local businesses and promote economic growth through connecting businesses with local consumers in our region.