Update 7/22/20 The funds for this program have been depleted and applications are no longer being accepted.
Program Information: The Town of Monument Business Relief Fund will aid businesses and non-profits located in the Town with any of the following types of assistance: rent or mortgage assistance, utility payments, employee payroll, accounts payable and other bills, payment of fixed debts, and adapt and/or repurpose their business to serve the community. Upon application review and approval, businesses and non-profits may receive up to $10,000 in grant funds.
How Does an Impacted Small Business Apply: Applicants for Town of Monument Business Relief Fund will complete an application as a fillable pdf and submit the application and required financial documents to the Town of Monument for further review and consideration. Applications are now being accepted until August 1 or the funds have been exhausted.
Objectives and Eligibility:
The program will allocate up to $300,000 from the current CARES Act funds provided to the Town by El Paso County. This program does not guarantee the Town’s financial assistance.
The objectives of the Town of Monument Business Relief Fund:
It is likely businesses in the Town will continue to experience a decline in business activity and revenue, and without access to financial resources, many locally owned businesses may permanently close their doors. Local retail, restaurants, and tourism-related businesses have been significantly impacted by COVID-19 and may be a focus area of this fund. This program does not guarantee the Town’s financial assistance. However, by supporting local businesses, we can maintain a vibrant, healthy local economy and community now and in the future. A crisis like we are currently experiencing reinforces our need for a long-term economic development strategy that can weather events outside of our control.
The Town of Monument Business Relief Fund will provide to up $10,000 of grant assistance to these adversely affected businesses. The time frame for expenses and economic impact under the grant is March 1, 2020 to December 30, 2020.
To confirm if a business is located in the Town of Monument, please contact program staff noted below.
Pursuant to the document entitled “Coronavirus Relief Fund Guidance for State, Territorial, Local, and Tribal Governments”, one of the eligible uses for CARES Act funds are as follows:
Expenses associated with the provision of economic support in connection with the COVID-19 public health emergency, such as:
Expenditures related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closures.
The Program is open to small businesses, restaurants, and non-profits with a brick-and-mortar presence within the Town’s boundaries, including locally-owned franchises, that can document negative financial impacts resulting from COVID-19 such as increased costs, reduced revenues, reduced operating hours, employee layoffs/furloughs/pay cuts, etc. Home-based businesses are not eligible for the Program. To be eligible for the Program, the business must have had 20 or fewer full- time employees on March 10, 2020 (the date of the Governor’s disaster declaration). Grants are available, based on available funds, for up to $10,000.
Priority funding will be applied to businesses who have been required to close due to Health orders or who can demonstrate a significant reduction in business volume due to COVID-19. Businesses that can function remotely will be considered as last priority (such as Real Estate groups, Architects, Construction, Interior Design groups, and Law firms). Non-franchise businesses have priority over franchise businesses. Businesses must be in good financial standing with the Town, including being up to date on sales tax remittances and utility payments (paid through February 2020 with no previous outstanding balance).
Eligible small businesses and non-profits located in the Town of Monument may be awarded a grant up to a maximum of $10,000.00. They must meet all the following criteria:
Program Priorities: The Town of Monument business relief program will prioritize applications based on considerations of the following factors:
Eligible Uses for the Grant: Grants offered under the program may be used for the following:
Given the daily changes in how the virus is impacting communities, the Town of Monument Business Relief Fund’s response and eligibility criteria may evolve accordingly.
Ineligible Uses for the Grant: Grants offered under the program may not be used for the following:
Contact Information for Town of Monument Business Relief Fund:
Phone: 719-884-8013 | Email: email@example.com
Reporting: A detailed line item budget of requested grant expenses must be submitted by the business applicant and approved by the Town prior to release grant funds. Grant recipients must fully expend grant funds within 30 days of receipt.
If a grant is provided the receiving business will be required to sign an agreement that the funds will be spent in accordance with the grant requirements. Receipts will be required to provide verification of how the grant funds were expended to match the previously approved budget.
***Due to the current COVID-19 situation, the grant programs below are not available ***
The Town of Monument is ready to assist your small business needs. We can quickly connect you with an extensive network of resource partners and service providers.
Monument Capital Project Grant
The Monument Capital Project Grant Program provides provide a reimbursement grant of up to 50% of the costs of a qualifying project in an amount up to $2,500 per business or single tenant building. The purpose of the program is for eligible property owners and tenants to upgrade the appearance of existing storefronts/building facades or primary public entrances in order to help create a positive commercial environment in Monument, Colorado.
Monument Marketing and Promotion Program
Monument’s shops and restaurants are an integral part of the authentic Monument experience that attracts both locals and consumers from the regional market area. To provide enhanced support of Monument’s retail sector the Town of Monument is launching a Marketing and Promotions Program. The marketing and promotions would include events, workshops, or activities that attract customers and visitors to the Town of Monument and its businesses. The program will reimburse up to 50% (limit of $500) per business/year of eligible marketing expenses to include:
Small Business Scholarship
As part of the Town's commitment to small businesses and entrepreneurs, Monument provides a Small Business Scholarship Program. This program allows reimbursement of business training expenses to small and home-based business owners/employers with 25 or fewer employees. To qualify, businesses must be licensed and located within the Monument’s Town limits.