Applications to open for Lakewood’s COVID business recovery grants
Published on June 11, 2020
Applications for the city’s COVID-19 Business Relief and Recovery Program funding $3 million in grants for small Lakewood businesses will open next week.
Lakewood is offering a two-phased grant process that could help more than 400 businesses. Eligible Lakewood businesses can apply from 9 a.m. on June 16 to 11:59 p.m. on June 18 at Lakewood.org/BizRecovery. Applications and additional information in Spanish and English are available on the website.
Businesses must employ 25 or fewer employees, must be physically located in Lakewood and meet several other requirements including having a current Lakewood business license and registration with the state. Businesses based outside the state and medical marijuana shops cannot apply for the city’s recovery grants.
City Council approved the $3 million in funds for the program on June 8 by using a portion of the $12.3 million that Lakewood has received from the federal relief funds known as the CARES Act.
Lakewood’s program will provide a $2 million pool for large grants that businesses must qualify for and a $1 million pool for modest, random-drawing grants. The large grants will range from $5,000 to $30,000, and eligible businesses will be assessed on a weighted rubric including years in business, number of employees up to 25, most affected industries and COVID-19 expenses. The grants will be based on the business’s calculated lost revenues. For the random drawing of smaller grants, eligible applications that don’t receive a large grant will be entered into the drawing for grants of $3,000.
For questions, please contact Lakewood Economic Development at 303-987-7730 or BizRecovery@lakewood.org.