Loveland Small Business Assistance Program

Due to the recent surge in COVID-19 cases in Larimer County, the Colorado Department of Public Health and Environment has imposed mandatory level red restrictions on our businesses and citizens effective 11/24/2020. In order to support the Loveland small businesses that are currently enduring the effects of these restrictions, the City of Loveland has created a $750,000 fund through an emergency ordinance approved by City Council on 12/15/2020. The aim of this business assistance is to provide gap financing for the hardest hit industries until additional state and federal stimulus is provided, or until restrictions are lessened. Awards may be used for payroll, rent, utilities, increased operating expenses related to COVID-19, and supplies necessary for operating during the COVID-19 emergency.

Please read all of the eligibility criteria and program guidelines below.

Assistance Amounts

Awards are estimated to range from $2,500 to $5,000 per business and will be equally distributed based on total number of qualified applicants.

Eligible Businesses

Small businesses that have been mandated to close or restrict their operations:

Restaurants and Bars
Breweries, Wineries and Distilleries
Gyms and Fitness Studios
Personal Services & Spas
Independently-owned Retail (<10,000 s.f.)
Arts, Creative, and Entertainment Industries
Accommodations and Hospitality
Other industries to be considered on a case-by-case basis

For-profit entity (i.e., partnership, corporation, LLC, etc.)
Can demonstrate significant financial loss due to COVID-19 restrictions (i.e. have incurred an annualized revenue loss of at least 20 percent due to the COVID-19 pandemic.)
Business must operate within the City Limits. (Click here to see the current City boundaries)
Corporately-owned franchises or publicly traded companies are not eligible
Have 50 or fewer full time equivalent (FTE) employees.
For those who are not current on all payments to the City of Loveland, (including, but not limited to sales/lodging taxes, water utility payments, and electric utility payments) the amount of past due balance will be applied from the award. Please note, you may be required to provide additional documentation to the City.

Application Evaluation

The City will accept applications for this program from Friday, December 18, 2020 through close of business on Friday, January 8, 2021.

PLEASE SUBMIT APPLICATIONS THROUGH THE ONLINE APPLICATION ONLY. For technical assistance with your applications, please contact Jack Hill at (970) 617-5262 or jack.hill@cityofloveland.org .
All applications will be given equal consideration. THIS IS NOT A FIRST-COME, FIRST-SERVED PROGRAM.
The Small Business Assistance Review Committee will review all applications received in the application period for eligibility.
Applicants must attach documentation of revenue loss (i.e. P&L statement, point-of-sales reports, sales tax statements, etc.)
Applicants will be notified of approval by email from econdevinfo@cityofloveland.org
If funds remain after the initial funding period, an additional application period may be announced.
Receiving or applying to the City through this program will not make a business ineligible for any other City available funding.
If you have received other COVID assistance, this does not disqualify you from this program.
The City reserves the right to cancel the program at any time and for any reason.
All applicants must certify that they will use the funds for legitimate business expenses including but not limited to: rent, payroll, utilities, increased operating expenses related to COVID-19, supplies necessary for operating during the COVID19 emergency, etc.

The Loveland Small Business Assistance Program has limited funds and applications will be prioritized using the following criteria:

Demonstrated financial stress, disrupted operations, or lost revenues as well as outstanding costs associated directly with impacts of COVID-19.
Number of years operating in Loveland.
Number of Full-time Employees

Deadline to Apply

Applications will be accepted from December 18, 2020 to January 8, 2021 at 5 p.m. MST. The City Economic Development Office has created a Small Business Assistance Review Committee, which will have final decision-making authority on approval of awards and amounts. Awards are anticipated to be made in mid-January 2021.

Special Circumstances

All applications will be reviewed on a case-by-case basis. If you have any eligibility questions, please contact the Loveland Economic Development Department.

Program Contact:
econdevinfo@cityofloveland.org or jack.hill@cityofloveland.org
(970) 962 – 2888 or (970) 617-5262

If awarded, as part of the Small Business Assistance agreement, applicants will be required to submit a final report 60 days after receiving funds to detail how the Small Business Assistance Program supported their business activities. All payments will be made via check and mailed to the business address included in the application.

Contact Information

1) First name*

2) Last name*

3) Email*

4) Full Mailing Address*

Please include street address, city, state and zip code to which the award will be mailed

5) Phone number*

Business Information

6) Business name*

7) Full Business Address*

Please include street address, city, state and zip code

8) Industry Type*

9) How long has your business operated in Loveland?*

10) Are you a home-based business?*

Yes

COVID-19 Impact Information

Other impacts not listed above:

12) What is your current allowed indoor capacity?*

50% - 100%

25% - 49%

< 25%

13) Profit and Loss Statements, Point-of-Sales Reports or Sales Tax Statements for Q3 2020, Q4 2020 and (if available) Q4 2019*

The Loveland Business Development Center (LBDC) no-cost consultants can assist with these documents. Call (970) 667-4106 to set up an appointment with the LBDC.

14) Number of full-time employees (FTE) on November 1, 2020:*

15) Number of full-time employees (FTE) currently:*

16) Gross Profit/Loss 2019 Q4*

If your business was not in operation in 2019 input "0" as your answer.

17) Gross Profit/Loss 2020 Q3*

18) Gross Profit or Loss 2020 Q4*

(Expected gross profit/loss for Q4 2020)

19) What was your total sales revenue in 2019?*

If you began operations in 2020, please input "0" as your answer.

20) What is your estimated total sales revenue in 2020?*

21) How do you plan to utilize the money from this program?*

22) Please describe the financial impacts your business has faced since the level red restrictions were put in place by the Colorado Department of Public Health and Environment:*

Statement of Understanding & Certification by Applicant

I have read the program eligibility criteria for the Loveland Small Business Assistance Program and I certify that I am authorized to sign this application as, or on behalf of, the Applicant. I agree to assist the City of Loveland in verifying any of the information contained in this application from any available source as requested.

By signing below, I certify that all information in this application, and all information furnished in support of this application, is given for the purpose of obtaining financial assistance for my business and that the information provided is true and complete to the best of my knowledge.

By typing/signing my name and title below, I am electronically signing my application and acknowledge and understand the Disclosure Information shown below.

Signature - Full Name*

Disclosure Information:

The City of Loveland supports the public’s right to access public records. Information submitted through the application is a public record and may be subject to disclosure under the Colorado Open Records Act, C.R.S. §§ 24-72-200.1, et seq (“Act”). In addition, the City of Loveland may be required to disclose information by subpoena, civil-investigative demand or court-ordered or court-authorized discovery. The City of Loveland will use its best efforts to maintain the confidentiality of financial or proprietary information submitted by the applicant, as permitted by law, but cannot guarantee confidentiality. Applicant must mark financial and proprietary documents as confidential and failure to do so, will be deemed a waiver of any liability if the City releases any information in order to comply with the law.

If an Open Record request is received, the City is required to make a determination under the Colorado Open Records Act, and may only withhold documents that are confidential under the law. If the City releases documents marked as confidential in compliance with the Colorado Open Records Act, the applicant waives any claims for liability or damages.

By submitting this application, applicant certifies that all information is true and correct. I agree that any information submitted through this application may be subject to disclosure under the Colorado Public Records Act or through another legal process as outlined above.

Do you acknowledge and agree to the information stated above?*

I Agree

I Disagree

I agree to and authorize the release by the City of Loveland of statements of good standing for my accounts with the City of Loveland Utility Division and Sales Tax Division.*

I Agree

I Disagree

** Please note: After clicking submit, it could take a couple of minutes for your application to be submitted. DO NOT refresh or close page after clicking submit. You will be redirected to a confirmation page and receive an email confirming your submission when complete.**