Wheat Ridge launches a small business stabilization program

Staff report
Posted 4/9/20

The city of Wheat Ridge City Council has approved a new Small Business Stabilization Program providing a total of $250,000 in grants to small businesses in Wheat Ridge who have been significantly …

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Wheat Ridge launches a small business stabilization program

Posted

The city of Wheat Ridge City Council has approved a new Small Business Stabilization Program providing a total of $250,000 in grants to small businesses in Wheat Ridge who have been significantly impacted due to the COVID-19 emergency. Businesses are eligible to receive up to $5,000. Applications are available online and the deadline for submission is noon on Friday, April 17.

“This new grant program is just one of the ways Wheat Ridge is supporting our local businesses,” stated Patrick Goff, Wheat Ridge city manager. “We have created a sales tax deferment program, Localworks has an intrest free loan program, and city staff and the Wheat Ridge Business Association have created two websites; Biz-Ridge.com and Eat-Ridge.com as well as a business toolkit. More information for businesses is also available on the City website designated forBusiness continuity and support.

“We recognize the impact COVID-19is having on all of us and wanted to do what we can to help our businesses remain viable until we have contained the spread of the virus and can return to business as usual,” Goff said.

Criteria for the new Wheat Ridge Business Stabilization Program include: for-profit independently owned companies physically located in Wheat Ridge, in operation as of Jan. 1, 2020, and in good standing with the city as of Feb. 1, 2020; businesses who have fewer than 25 full-time employees; and those who have a verifiable hardship directly due to COVID-19. Additional criteria are listed on the application which is available on the city's website In addition to the application, applicants must submit a copy of their current business license and W-9 form. The grant funds are intended to be used for operational needs, lease or mortgage payments, payroll, and/or supplies and services. Upon receipt, the applications will be reviewed by a Task Force including City Councilmember Zach Urban, City Treasurer Chris Miller, Wheat Ridge Economic Development Manager Steve Art, and representatives from the Wheat Ridge Chamber of Commerce, the Wheat Ridge Business Association, the Wheat Ridge Business District, and Wheat Ridge Localworks.

The deadline for application is Friday, April 17 at noon. The Task Force will notify approved applicants by April 24, 2020. Applications are available on the city website and can only be accepted using this submission process.

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