Economic Development will begin accepting applications on April 20 for its Pikes Peak Enterprise Zone (EZ) Small Business Relief Fund. The community based, grant-funded program provides financial assistance to small businesses negatively impacted by COVID-19 in the Pikes Peak Enterprise Zone.
The Pikes Peak Enterprise Zone (EZ) Business Relief Fund will help small businesses, struggling to sustain operations, with critical funding necessary to maintain their workforce and recover during and after this public health emergency. Unlike loans, small businesses awarded this grant, won’t have to pay it back. They can use the funding for essential needs such as rent or mortgage assistance, utility payments, employee payroll, and payment of fixed debts. The goal is to start allocating grants to eligible businesses in May 2020.
The Pikes Peak Enterprise Zone (EZ) Business Relief Fund is supported and sustained through the generous donations of individuals and organizations. Donations of $100 or more from Colorado taxpayers qualify for an EZ 25% state income tax credit.
“Local retail, restaurants, and tourism-related businesses in El Paso County have been significantly impacted by this public health emergency. Many are now facing layoffs and closures. Our goal with the EZ Business Relief Fund is to provide an avenue for individuals and organizations to rally around struggling small businesses. The success and sustainability of this program are dependent on the generosity of our community,” said Crystal LaTier, Executive Director of Economic Development.
For individuals and organizations wanting to donate to the Pikes Peak EZ Business Relief Fund, please make checks payable to “Enterprise Zone” and include “Pikes Peak EZ Business Relief Fund” and the last four digits of your Social Security Number. Credit card contributions cannot be accepted.
Please mail your EZ contribution check to:
El Paso County Economic Development,
9 E. Vermijo Ave, Colorado Springs, CO 80903
Eligible small businesses located in the Pikes Peak Enterprise Zone may be awarded a grant up to a maximum of $7,500.00. They must meet all the following criteria:
- Small business physically located and operating within the Pikes Peak Enterprise Zone Boundaries in El Paso County or Teller County. Small businesses, regardless of industry type, are defined as those with 500 employees or less, part-time workers included
- Have experienced a decline in revenue this year as a result of the COVID-19 pandemic compared to an equal timeframe in the previous year
- Be registered with the Colorado Secretary of State’s Office
- Be engaged in activities that are legal under Colorado and federal law
- Meet program technical requirements, including ability to provide financial records
- Be in good standing with local, state, and federal taxing and licensing authorities
For more information about the Pikes Peak EZ Business Relief Fund, and how to apply or donate, please visit https://admin.elpasoco.com/economic-development/enterprise-zone-contribution-projects.
Completed applications and required financial documents must be submitted for further review and consideration. The deadline for applying is May 1, 2020.
El Paso County Economic Development would like to thank the Colorado Office of Economic Development and International Trade, Pikes Peak Community Foundation, and the Pikes Peak Small Business Development Center for their collaboration that helped bring the Pikes Peak EZ Business Relief Fund program to the Pikes Peak region.