COVID Business Grants

New Beginnings Capital Access and Opportunity for Minority and Women Owned Business Enterprises

A COVID Relief Fund Project from the Office of Financial Empowerment and Protection
City and County of Denver in partnership with NEWSED Community Development Corp Inc.

In order to address the COVID impacts on minority and women owned business enterprises (MWBE), in Denver, NEWSED Community Development Corporation has been identified as a nonprofit partner to launch the “New Beginnings MWBE Access to Capital” program to provide small business grants, business and financial coaching while building credit, reducing debt, increasing savings and positioning the business to have access to mainstream financial capital and build financial resiliency.  Eligible small businesses will be recruited throughout the city and county of Denver. We have also secured a funder to continue support of the small business through a small dollar loan program through 2021. The grant with NEWSED will also include legal services for business lease re-negotiation/mediation and give legal advice if needed.

APPLICATION DEADLINE IS DECEMBER 15, 2020 at 5:00pm (1700 hrs.) MDT FOR THIS FUNDING ROUND, HOWEVER YOU ARE ENCOURAGED TO APPLY ASAP. Additional rounds for applications are anticipated with the next due date scheduled for 2021.

Once all the applications for this month’s application round are reviewed, we will contact you with a funding decision. We appreciate your patience as we process applications as quickly as possible.

As small businesses experience economic impacts related to COVID-19, the Office of Financial Empowerment and Protection (OFEP), in partnership with NEWSED, is making available one-time business stabilization grants for eligible small businesses most affected, for up to a maximum of $15,000. The program is currently focusing on businesses in industries primarily impacted, including retail (storefront), restaurant/food industry, personal care (barber shop, nail salon), healthcare & social assistance services (childcare & home health care providers), logistics small manufacturing and other businesses will also be considered on a case by case basis.

Given the daily changes in how the virus is impacting communities, OFEP’s response and eligibility criteria may evolve accordingly.

Award will be based upon availability of funds and a combination of factors including program eligibility, program priorities, and geographical disbursement, and on a first come first serve basis for businesses equally meeting all factors under consideration.

Eligibility

Industry Priorities

Industries where employees and customers have frequent and/or close contact within 6 feet of people who may be infected.

  • Retail (storefront)
  • Restaurant/food industry and other hospitality
  • Personal care (barber shop, nail salon, gyms etc.)
  • Health care & social assistance (childcare and home health care providers)
  • Logistics
  • Small manufacturing
  • Security
  • Other

 

Businesses of all sizes in the City & County of Denver are experiencing impacts but given the limited resources available at this time, our COVID Relief Fund Project from the Office of Financial Empowerment and Protection will prioritize applications based on considerations of the following factors:

Other assistance and tools may be available for businesses not qualifying under the New Beginnings Capital Access and Opportunity for Minority and Women Owned Business Enterprises. Contact us at 720-944-2498 or if you have questions.