El Paso County awards more than $ 10 million to small businesses and nonprofits

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EL PASO COUNTY, Colorado – The El Paso County Department of Economic Development has awarded $ 10,381,441 in grants to 627 local small businesses and nonprofits as part of the second round of grants from the Regional Fund of El Paso County Business Relief. The program has provided assistance to these local groups as they attempt to rebound economically from the COVID-19 pandemic.

The El Paso County Council of Commissioners has allocated $ 10,381,441 in American Rescue Plan Act (ARPA) funds to the Regional Business Relief Fund. Of the 627 businesses that received grants, 525 were small businesses and 102 were non-profit organizations. 65% of beneficiaries identified as women, minority-owned or veteran-owned businesses and non-profit organizations. The average amount awarded is $ 16,557.

The funds cannot be used for taxes or tax debts and businesses will not have to repay them as a loan. In addition to funding, grantees will also have access to free business support resources through the Pikes Peak Small Business Development Center and Pikes Peak Workforce Center.

“The pandemic has created unprecedented challenges and disruption for small businesses in El Paso County, both for-profit and not-for-profit,” said Stan VanderWerf, chairman of the El Paso County board of directors. “The success of small businesses and the creation of new jobs in our region are undoubtedly essential to our economic recovery. The grant provided a gateway for small businesses and nonprofits to maintain their workforce and continue their important work. “

At this time, no new applications for the El Paso County Regional Business Assistance Fund are being accepted. For more information on resources to help businesses recover from the COVID-19 pandemic, please visit https://admin.elpasoco.com/economic-development/.


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