The city is in the process of reviewing 182 applications for the Boost Longmont Business Grant, a program through which $1.1 million dollars in federal CARES Act funding will be awarded to local small businesses and nonprofits.
The program, for which the application window closed on Nov. 1, seeks to encourage the “recovery, resilience and long-term viability” of the local economy through grants of up to $15,000 for businesses to cover eligible expenses including lease, mortgage and utility payments, payroll, and revenue lost as a direct result of the COVID-19 pandemic, according to a news release.
In an email to applicants, city public information officer Rigo Leal stated those 182 applications were for a total of more than $2 million, outpacing the available funds.
“The review committee is trying to work through all of this right now,” Leal stated in an email to the Leader.
The grant panel will be selecting businesses with the most demonstrated need and stronger future viability, he stated in his email to applicants.
In addition to showing an impact from COVID-19, the panel will prioritize awards to businesses owned by someone who identifies as a minority, woman, veteran or disabled; businesses owned and operated in Longmont, and businesses or organizations contributing to COVID-related recovery, according to the program guidelines.
Expenses sustained by organizations must have been or be spent between March 10 and Dec. 31 and must be considered necessary to ease the impacts from the pandemic, per the guidelines.
The committee in charge of selecting grant recipients consists of seven members from various organizations and could take a couple more weeks to complete the review and selection process, Leal stated in the email to applicants.
The city is working with businesses to get the required documentation and will correspond with applicants this month with a final decision, Leal stated.
