Denver City Wire

The federally funded grants will support post-pandemic challenges and provide technical assistance

Denver Economic Development & Opportunity (DEDO) is releasing $5 million of federal funds to support local small businesses through grant dollars and technical assistance. DEDO is accepting applications for grants up to $15,000 to address a variety of ongoing post-pandemic challenges including revenue losses, operating instability, and displacement. This funding is a continuation of DEDO’s Business Impact Opportunity Fund, federally funded through American Rescue Plan Act (ARPA) dollars. To date, over $4 million in grant funds have been disbursed through the Business Impact Opportunity Fund to support 315 small businesses. Applications are open now through Monday, June 5, 2023. Additional funding rounds are anticipated. 

"Small businesses are the backbone of our community but many have not yet fully recovered from the financial impact of the pandemic,” said Mayor Michael B. Hancock. “Using federal American Rescue Plan Act funding, we are providing an opportunity for these businesses to rebuild and continue their vital role in our city.”

“DEDO has been at the forefront of relief efforts since the beginning of the pandemic,” said Jen Morris, Executive Director, DEDO. “Since March 2020, we have released over $35 million in various relief and recovery dollars. With this new round of funding, we remain nimble in meeting the most pressing needs of small businesses in our city that have been deeply affected by the pandemic.” 

As with previous grant rounds, the city’s contracted partner on the program is Mile High United Way, which adds significant capacity in providing technical assistance, one-on-one support for applicants, and managing disbursement.

“We are so excited to extend our partnership with DEDO to continue the Business Impact Opportunity Fund. This valuable program furthers our work at Mile High United Way to help small businesses reach their full growth potential. Together, with the City and County of Denver, we are creating a community united,” said Christine Benero, Mile High United Way President and CEO.

Businesses are encouraged to review application requirements and to join available information sessions or participate in 1:1 coaching hosted by Mile High United Way. Information sessions and fliers are available in English, Spanish, and Vietnamese. View the application, fliers, and information session dates here.

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About Denver Economic Development & Opportunity

Denver Economic Development & Opportunity is creating an economy that works for everyone. Learn more at denvergov.org/economicdevelopment.

About Mile High United Way

Working side-by-side with the community, Mile High United Way takes on critical human services issues facing our seven-county footprint, including the Metro Denver, Boulder and Broomfield communities. Our united approach changes the odds for all children, families, and individuals in our community, so that all have the opportunity to succeed. Learn more at unitedwaydenver.org and follow us on social media @UnitedWayDenver.

About American Rescue Plan Act (ARPA)

Denver’s plan for recovery includes direct distribution of $308 million in ARPA Local Relief Funds. Denver solicited and received feedback from over 12,000 residents, Denver City Council, city agencies, the Mayor’s Stimulus Advisory Committee, and the Mayor’s Economic Recovery Council to inform the use of the city’s first round of ARPA funds. Federal law requires distribution of the funds by 2026.

Original source can be found here.