Gap Fund for Small Business
The Energize Colorado Gap Fund will provide nearly $50M in small business loans and grants to boost small business enterprises that are the economic engines throughout the state. So far, more than $26 million in grants have been connected to Colorado small businesses, and our loan program continues to fundraise.
Currently, the Gap Fund is allocating new and limited funding to businesses that previously applied for the Gap Fund in 2020.
We have added preferences for sole-proprietorships and businesses located in economically distressed areas.
Funds will be distributed from February through May 2022. Please keep an eye out for communications related to the Gap Fund in your email.
WHAT IS THE GAP FUND?
The Gap Fund is a public- and privately-funded equity program geared towards Colorado small business owners who have been impacted by the COVID-19 pandemic. This program allowed sole proprietors, businesses and nonprofits with less than 25 full-time employees to apply for up to a $15,000 grant and a $50,000 loan for a possible combined total of $65,000 in financial assistance. Priority is given to minority, women and veteran business owners in rural areas, as well as to people who may have had difficulty accessing other financial support programs such as PPP.
The Gap Fund received more than 10,000 applications for assistance in 2020, asking for significantly more than the program initially had to give. Fundraising for grants and loans continues in 2021 to reach more Colorado businesses.
Late in 2021 the Gap Fund received an additional $15M from the State of Colorado to issue additional grants to applicants from 2020. If you applied previously please be aware of additional email communication from your assigned grantor.