Small Business Grants
Third-Round COVID-19 Small Business Support Grants
Town Council on Nov. 17 approved a third round of the Town's COVID-19 Small Business Support Grant program. A total of approximately $500,000 in grants is expected to be awarded in this third round.
Businesses previously awarded a Town grant are eligible for an additional award. Individual awards in this round are expected to be for up to $5,000, subject to increase based on funding availability.
Applications for this round of grant have closed; see the full program schedule on this page.
Third-round grant criteria
Funding priority will given to independently owned restaurants and bars, which are being most impacted by current public health orders. Preference will also be given to businesses that collected and remitted Town sales tax during 2019.
To qualify, a business must:
- Have a physical and publicly accessible location in the Town of Castle Rock that is not based in a residence or coworking space
- Be a small businesses – defined as those with 25 full-time employees or less
- Have been negatively and significantly interrupted by the pandemic – details of these impacts are required on the grant application
- Have been operating in Castle Rock for a minimum of six months (updated from the one year required in prior grant rounds), as defined by the date of the most recent Town business license issuance, by Dec. 15, 2020
- Have applied for a federal SBA loan and provide proof of application
- Provide a completed W-9 form for the business to enable the Town to issue it a check
- The final two items do not need to be provided again if furnished as part of a previous Town grant application
Additional eligibility information:
- New for the third round: Businesses that have received the full possible $10,000 in awards resulting from the first two rounds of grants are eligible to apply but will be given lower priority than other businesses
- Franchises located within Castle Rock are eligible if the franchisee also resides within the Town of Castle Rock; this is defined by addresses paying property tax to the Town
- Ineligible businesses include liquor stores; auto- and construction-related businesses; and nonprofit organizations
- Professional service businesses and regional businesses with more than five locations in Colorado are eligible in the third round, with lesser priority than other businesses
- Businesses must agree to provide financial records to support its application – in essence, to submit to a program audit – upon the Town’s request
Third-round grant program schedule
- Thursday, Nov. 19 - Applications opened
- Friday, Dec. 4 - Applications closed at 5 p.m.
- Week of Dec. 7 - Grant review committee reviews applications and makes recommendations
- Friday, Dec. 11 - Recommendations posted to this webpage by 5 p.m.
- Tuesday, Dec. 15 - Town Council reviews recommendations and decides on awards
- By Dec. 30 - Granted funds mailed to recipients
The grant review committee includes representatives from Town Council, Town staff, the Castle Rock Economic Development Council and the Castle Rock Chamber of Commerce.
- Town Council awarded $266,500 in small business grants during a first round of this program. Grant checks were mailed in April to approved businesses. View a staff report and presentation slides regarding those recommendations.
- Town Council approved a , which totaled $190,000.
- Town Council in November approved $9,500 in appeals related to applications denied in the first two rounds of grants. This brought total Town small business grants awarded through November to $466,000.