Disproportionately Impacted Business (DIB) Relief Program

The Disproportionately Impacted Business Relief Program (DIB Grant) is a program that will provide relief payments in the form of grants for disproportionately impacted businesses that have lacked meaningful access to financial assistance (e.g. PPP loans, EIDL advances and loans) from federal COVID-19 relief programs.

The business must meet the following eligibility requirements:

The State of Colorado Office of Economic Development & International Trade (OEDIT) has partnered with Colorado Enterprise Fund (CEF) to administer the DIB Grant Program. The application will be hosted on the CEF website. The application will open at 9:00a on Friday November 5th and will remain open until 5:00p on Sunday November 21st.

The minimum amount of award is $1,500 and the maximum amount a business can request and be awarded is $10,000. Award amounts will be based on demonstrated needs and available funds. Grant awards can be no greater than the net revenue loss the small business has experienced due to the COVID-19 pandemic. Not all recipients will receive the amount of their request. Depending on demand, applicants may receive no funding.

The following documents will be required: 1. If your revenue loss of 10% or greater is based on a comparison of 2019 to 2020 please provide: a. 2019 and 2020 business tax returns (all pages of the return). In the case of a Schedule C filer, provide a complete Schedule C along with any supporting documents as part of your personal tax return. Please remove any passwords so we can easily access the file. b. 2019 and 2020 personal tax returns of the primary business owner (all pages of the return). Please remove any passwords so we can easily access the file. 2. If your revenue loss of 10% or greater is based on a comparison of 2020 to 2021, please provide: a. 2020 business tax return (all pages of the return). In the case of a Schedule C filer, provide a complete Schedule C along with any supporting documents as part of your personal tax return. b. 2020 personal tax return of the primary business owner (all pages of the return) c. 2021 current year-to-date Profit & Loss Statement. 2) Colorado Certificate of Good Standing or Certificate of Fact of Trade Name 3) Complete W-9 (Please read the FAQ for completing the W9) 4) Current/Valid Government identification of primary business owner: · Valid Colorado driver’s License or a Colorado identification card. · “Valid US passport · US Military Identification card OR Military Dependent’s Military ID card · United States Coast Guard Merchant Mariner card · Native American Tribal Identification Document · Valid Foreign Passport with Photo AND valid US Visa AND I‐94 · Certificate of Citizenship with photo (less than 20 years old) · Valid Employee Authorization Document/Temporary Resident · Refugee/Asylee I‐94 with photo · Valid I‐551 permanent resident card So we may more quickly process all applications, we request that your file is named to reflect what is in it. For example, “Applicant Name ID” or “2020 Tax Return”. Please note: You will have the opportunity to save and return to your application at any time through the application process, but all required documents must be submitted with the application to be considered for a grant award. Once you have submitted your application, you will not be able to add documents.

CEF will review all fully completed and submitted applications for eligibility and validate requested amounts based on review of tax returns, financial statements and other supporting documentation. CEF will provide the results of the review to OEDIT for final determination of award recipients and award amounts.

After all the applications are thoroughly evaluated, you will receive a notification of award decision (approve or deny) and award amount via email the week of December 6th. Awards will be distributed via ACH the week of December 13th. Please check your junk folder in case your email landed there. If, after December 17th, 2021, you still can’t find the email, email dibgrant@coloradoenterprisefund.org with the name of your business and we will assist you.

Applicants must demonstrate through submission of required documents and articulate writing that their business was impacted by COVID-19 and their decrease in revenues has not been covered by other federal Covid assistance programs (e.g. PPP loans, EIDL advances and loans). This will be shown by clearly indicating in application questions the impact COVID-19 has had on their business operations and finances, as well as submitting all the necessary documents required for application completion. Please note that we encourage all applicants to upload additional documentation, and/or write additional explanations explaining the impact COVID-19 has had on their business operations.

It depends. We follow a “one tax ID number reported on a tax return, per grant”. If the locations are separate tax filers with separate EIN’s you may submit multiple applications for consideration. Please note the application requirement for the full federal tax returns

The DIB Grant Program is a grant program, so it does not have to be repaid. However, this grant source should be noted as income and all taxes associated with the acceptance and/or usage of grant awards are the sole responsibility of the grantee, and the grantee shall comply with all applicable state, local laws, executive orders, rules, and regulations in connection with acceptance and/or usage of grant funds.

No. However, it does need to be in good standing with the Colorado Secretary of State as a foreign entity. Please be reminded that a physical location in Colorado is an eligibility requirement for this grant.

No. You cannot change your application once it has been submitted. While filling out your application through the online platform, you can save your application status and come back at a later time to finish it. However, please note that unless your application is fully completed and submitted with all the required documents, it will not be considered for a potential grant award.

Yes. Upon successful submission of your application, you will receive an email confirmation from Colorado Enterprise Fund.

This financial assistance includes PPP loans, EIDL advances and loans.

Please read carefully as past experience shows the most errors and required follow up relate to the W9 form. No grant will be issued without a complete W9 form. Please read each line of the W9 carefully and ensure it matches your 2020 tax return unless there has been a change in your business structure. The information on the W9 must match your tax return and your application. · Submit the most recent W9 form (Revised October 2018) · Line 1 (legal name) and Line 2 (doing business as/or trade name) on the W9 should match the name of your business on your tax return AND on your application for the grant program. · Line 3 describes the business structure of your business. Check ONE box only. If you are a sole proprietor or single-member LLC and file a Schedule C tax return, you check the first box “Individual/sole proprietor or single-member LLC.” If you are an LLC with more than 1 member, check the “Limited Liability Company” box and fill in the blank with the appropriate business entity: C for Corporation (not Sch C filer) / S for S-Corp / P for Partnership return. · Enter the TIN (Taxpayer Identification Number) that is listed on your 2020 tax return. If you enter an EIN, it must be the EIN issued to the business name by the IRS. · The address can be your business address, business mailing address or your home address. · Lastly, please make sure you sign and date the W9 before submittal.

Small businesses and organizations structured as a Partnership, Corporation, Limited Partnership, Limited Liability, Sole Proprietors, Independent Contractors are encouraged to apply. All applicants, regardless of industry and structure, must have less than 500 employees (including part-time workers), must be located in Colorado, and must have business activities that are legal under Colorado AND Federal law. Please see eligibility question for a comprehensive list of eligibility requirements. Businesses/Industries that are NOT eligible are: · Short term property rental businesses such as Airbnb · Non-Profit Organizations · Part-time/Hobby type businesses (must have employed one FTE at 40 hours per week since January 1, 2020 to be eligible – may be the business owner) · Construction or reconstruction business · Professional sports teams · For-Profit Business while that business or any other business owned by the same person(s) or entity(ies) is the subject of unresolved findings of noncompliance relating to previous federal assistance provided to the recipient. · Use of funds for Structures Owned by Religious Organizations

No. The Disproportionately Impacted Business Relief Grant Program is not a first come, first serve grant program. Rather, it is a competitive application process. Applications will be accepted November 5, 2021 through November 21, 2021 at 5:00 PM. All applications submitted in completion, with all necessary documentation, will be equally evaluated by Colorado Enterprise Fund staff. Final decisions will be made by The State of Colorado Office of Economic Development & International Trade (OEDIT).

In order to be eligible for this grant program: · The business must have received less than $20,000 in financial assistance from federal COVID-19 relief programs (e.g. PPP loans, EIDL advances and loans). · Sustained at least a 10% revenue loss because of the COVID-19 pandemic. The sustained loss must be a minimum of $1,500 after reimbursement from other assistance received from federal COVID-19 relief programs (e.g. PPP loans, EIDL advances and loans). · This grant is intended to cover losses not covered by previously received assistance programs. DIB grant dollars may not be applied to any losses or expenses which have been previously reimbursed through other assistance from federal COVID-19 relief programs (e.g. PPP loans, EIDL advances and loans).

The Disproportionately Impacted Business Relief Grant Program application window closes on November 21, 2021 at 5pm

If you do not have one or more of the documents required for completion of the application, please first review the “What documents are required for this application? “ question above that provides additional documentation requirements if your business cannot provide one of the required documents. If the above question does not address your specific situation, please reach out to the Colorado Enterprise Fund team to receive guidance on the appropriate documentation to provide. Please Note: Within the application, there is a free-form box in which your business can attach additional documentation and explanations to advocate for your business’ need of grant assistance in the event that you believe it will help to clarify or strengthen your application.

None – this grant program is open to “For-profit” businesses only.

The timeline for the grant program is as follows: - November 5, 2021 9am - Grant Application Opens - November 21, 2021, 5 pm - Grant Application Closes - Week of December 6, 2021 - Grant Awards Announced - Week of December 13, 2021 – Grant awards distributed via ACH

Disproportionately Impacted Business Relief Grant Program funds are not to be used to cover revenue losses that were covered by other federal COVID-19 relief programs (e.g. PPP loans, EIDL advances and loans). Disproportionately Impacted Business Relief Grant Program exists to assist businesses with their business-related costs incurred due to the COVID-19 economic disruption and for recovery of the disruption such as: · Inventory Purchases · Equipment · Mortgage Payments · Taxes · Furnishings · Payroll Expenses · Lease/Rent Expenditure · Service Agreements · Covid-19 Expenses · Fixtures · Insurance · Consultants · Utilities Please Note: Disproportionately Impacted Business Relief Grant Program funds are not to be used for political activities, inherently religious activities, gambling, lobbying, political patronage and nepotism activities.