Arvada brings total COVID-19 business recovery grant funding to $4.3 million
The City of Arvada has announced a second round of support for the local business community and continued recovery from the economic effects of the COVID-19 pandemic. An additional $1.5 million in funding is now available, bringing the total amount of support provided to local businesses to $4.3 million.
This second round of support is an opportunity to target critical financial assistance to areas of the businesses community demonstrating the highest need based on how COVID-19 has affected them. In particular, a portion of the funds will be targeted to restaurants, which are critical to the community’s economic vitality and create unique character, a sense of place and an overall attractiveness for people who live, work or visit Arvada.
The support is being offered in the form of grants from $1,000 to $40,000 depending on the size of the company and the nature of revenue loss. The funding is made possible through the Coronavirus Aid, Relief and Economic Security (CARES) Act to Jefferson and Adams counties. In allocating funding, the City may prioritize businesses that:
- are applying for the first time
- are disadvantaged
- show demonstrated losses including revenue loss projections
- have been most deeply impacted
Arvada businesses are expected to use the grant funds based on requirements under the CARES Act. In addition, participants must complete and return a CARES Act funding recipient release form. For information regarding the grant funding and to apply, visit https://arvada.org/business-recovery. The City will begin accepting applications on Monday, Sept. 21, at 8 a.m.
Additional resources to support the Arvada business community as part of the City’s Arvada Business Recovery Initiative are also available at https://arvada.org/business-recovery.
Arvada residents who have been financially impacted by COVID-19 may be eligible for the City of Arvada’s Rent and Mortgage Relief Program. For more information, visit http://arvada.org/rent-mortgage-relief.