Grand Junction Nonprofit Business Stabilization & Recovery Grant Fund-Phase I

Deadline to Apply: April 16, 2021, by 5pm

The Grand Junction Nonprofit Business Stabilization and Recovery Grant Fund Phase I, also known as “Nonprofits are Businesses Too” was established on February 16, 2021.

The City of Grand Junction authorized the Business Incubator Center (BIC) to distribute up to $250,000 to specifically assist with shortfalls in the operational funding needs of eligible nonprofit entities (“Nonprofit Business Entity” or “NBE”) negatively impacted by the COVID-19 pandemic as those NBE’s endeavor to meet the various needs of our Grand Junction Community.

A grant will be no more than $7,500 per eligible NBE applicant.

For this program, nonprofit businesses are defined as follows:

“Nonprofit business” is a Colorado not for profit entity in good standing that is established for any benevolent, educational, philanthropic, humane, scientific, social welfare or social advocacy or other eleemosynary purpose(s) and any operation for the benefit of veterans.”

Approved Uses of Funds

Awarded funds shall be used to pay fixed and operational costs.

To qualify for funding, an eligible NBE must meet all of the following criteria:

    1. The NBE must attest that it has experienced a negative financial impact, which includes but is not limited to, closing or significantly reducing operations due to the COVID19 Pandemic and that its net assets (income) have decreased over the prior 12-month period; any COVID specific grants the NBE has received to address the pandemic will be considered when analyzing its net asset/income based on year-end 2020.
    2. An NBE applicant that has received prior funding from the City of Grand Junction to address community needs is eligible (if funds were largely used to serve the community and not for the operations of the NBE.)
    3. An NBE formed or operated under the auspices of a church or with a religious affiliation may apply; however, the NBE must demonstrate direct impact to the community beyond the congregation, parishioners or adherents that it serves and the NBE must attest that the funds will not be used to proselytize or advance a doctrine.
    4. An NBE that receives operational support from the City of Grand Junction (e.g., CDBG or other funding for significant base operations) is ineligible.
    5. The principal location of an NBE must be physically located in Grand Junction city limits or the NBE must demonstrate that it serves to the satisfaction of the BIC in its sole discretion, a preponderance of City residents.
    6. The NBE must have 1-25 FTE (full time equivalent) employees; an NBE without an employee(s) is(are) ineligible. An NBE with less than 1 FTE may be considered for approval if they provide significant community impact and/or ease the burden of government (if you are unsure if you qualify, please contact our loan fund team as outlined below).
    7. An NBE with more than 90-days cash (unrestricted) is ineligible; days cash may be based on historical expenses prior to 2020 and specific program grants received in 2020 may potentially be excluded from calculations.
    8. An NBE must attest that it is in good standing with the City of Grand Junction and Colorado Secretary of State.

    We understand that these criteria may be complex and that you may have questions on whether your organization may be eligible. If you have questions or need clarification, please call the Business Incubator Center at 970-243-5242 and ask to speak with someone on our Loan Fund team.

How to Apply

The Business Loan Fund of Mesa County (a program of the Business Incubator Center) is now accepting applications for the Grand Junction Nonprofit Business Stabilization and Recovery Grant Fund – Phase I.

Applications will be processed in the order they are received until funding is fully allocated. Although you may submit your application for review, funds will not be distributed until verification of eligibility.

Deadline to apply: April 16, 2021, by 5pm

How To Apply

  1. Complete your Business Survival and Recovery Plan (template below)
  2. Gather supporting documents
  3. Complete application
  4. Follow submission instructions on application. Make sure all required documents are attached. Only complete submissions will be considered.

Required Documents

To be considered for approval, an NBE applicant will be required to provide the following:

  1. Current financial statements, year-end 2019 and year-end 2020; if applicant launched in 2020, then monthly financials may be required to validate need and viability;
  2. 12-month budget/budget projections;
  3. Documentation of costs showing need for funding – required documentation may include but is not necessarily limited to mortgage/rent statements, payroll, utilities and recurring operational costs;
  4. Current financial situation including operational income, cash reserves and days cash;
  5. Projected operational expenses for 90 days;
  6. Any significant change(s) to mission due/in response to COVID;
  7. Historical donations, donors (names do not need to be provided) and revenue model (events, fundraisers, etc.); expected ongoing donations and operational plan to secure future funds;
  8. Basic business/survivability plan (template on our website);
  9. Other information as requested by the BIC.
  10. Completion of any and all required application(s), disclosure(s), consent(s) and agreement(s) as required by the BIC.