Minimum Eligibility Requirements & Documentation Required
- This is a reimbursement grant, proof of payment/receipts since March 15, 2020 along with an itemized statement of receipts must be submitted for qualifying expenditures.
- Business must provide a certificate of good standing from the State of Colorado Secretary of State.
- Business must show proof of current operation of a home based business in Thornton since March 15, 2020. (current customer contracts, orders, records, or other proof of current operation and residency)
- Home business location must be where the primary business is headquartered (no commercial locations).
- Business must possess a Thornton Home Based Business License. (Contact the Thornton Sales and Use Tax office to apply: 303-538-7400)
- Business must provide completed and signed W-9 Form (www.irs.gov/pub/irs-pdf/fw9.pdf).
- Business address where business is registered must be current on all required payments to the Thornton Sales and Use Tax office and Utility Billing office, or enter into a payment plan with the respective office(s), in order to qualify for the grant. (Consideration may be given for late payments or issues related to COVID-19, but payment arrangements must be made directly with those offices.)
- Business must have a business bank account.
- Business cannot be in process of closing their business or already closed. (identified through financial statements)
- Business must demonstrate a negative impact directly related to the COVID-19 crisis, based on their financial data such as loss of employees, revenue, clients and or contracts, or other data as compared to months prior to COVID-19.
- Provide financial documentation such as profit loss statement or cash flow sheet, with at least 1% or more positive profit prior to COVID. (verifying business was sustainable prior to COVID-19)
- Business must employ 500 employees or fewer
- If application is submitted incomplete, business must schedule a consultation appointment with an Alliance Business Assistance Center counselor or staff member to assist with completing application.
Maximum Award Amounts
- While the Thornton CARES Home Based Business Grant funding allows for a maximum of $5,000 in reimbursement, not all businesses will receive the full $5,000, but rather a portion up to $5,000.
- Any funds received from the Keeping Thornton Safe Grant will not impact the maximum eligibility amount for this grant.
Application Submittal Process
- Applications will be accepted on a first-come, first-served basis through November 6, 2020 or until funding has been exhausted, whichever is sooner.
- All complete applications will be considered for approval by a review committee.
- If application is submitted incomplete, business must schedule a consultation appointment with an Alliance Business Assistance Center counselor or staff member. Technical assistance will be provided to assist with grant application.
- Applications can be submitted online at www.businessinthornton.com, emailed to [email protected] (click to email [email protected]) or mailed to City of Thornton Economic Development Office, City Hall, 9500 Civic Center Drive, Thornton, CO 80229. Applications must be received by the end of the business day on November 6, 2020, to be eligible for consideration.
- Applications will be reviewed weekly.
- The Economic Development Office will endeavor to email the applicant with a formal grant approval or denial letter within 2–3 weeks of receiving a completed application. If approved, notification of award amount and regulatory requirements will also be provided.
- Grant recipients can anticipate a check within 2–3 weeks of formal approval and 4–6 weeks from date completed application was received.
- Allowable expenses must have been incurred on or after March 15, 2020.
- Reimbursement will be provided for primary recurring bills related to the operation of the business; assistance with accounts payable, verifiable recurring employee or employer payroll, business insurance,
- Personal Protection Equipment (PPE), supplies or inventory that are necessary due to COVID-19, marketing and other business needs related to COVID-19 impact.
- Grant funds cannot be used to reimburse taxes of any kind (sales tax, property taxes, use tax), water bills, or other debt owed to the City of Thornton, County or State.
- Grant funds cannot be used to reimburse residential house payments such as mortgage or lease payments, or other mixed use bills such as phone, internet, utilities, etc.
- All funds awarded must be expended from a business bank account.
- If a business owns more than one business, they may only apply for one Thornton CARES Home Based Business Grant
- Expenses must be identified as a necessary reimbursement expense that was related to COVID-19 impact.
- Funds cannot be used to pay expenses already covered by other grants or by funding received from other COVID-19 programs or loans.
City Council established the Thornton CARES Home Based Business Grant (COVID-19) to assist home based businesses impacted by the COVID-19 crisis. The program is administered by the Thornton Economic Development Office and applications are reviewed by a staff committee.
- This is a reimbursement grant only.
- Technical assistance and guidance are available to assist with completing the grant application. Please contact the Alliance Business Assistance Center to set up a free consultation with an Alliance Business Center Counselor or staff member.
- Businesses must meet the minimum eligibility requirements to apply.
- You must complete questions with an informative summary.
Please submit the following to the Thornton Economic Development Office:
- Completed and signed application form
- A completed and signed W-9 Form (www.irs.gov/pub/irs-pdf/fw9.pdf).
- Proof of current business operation in Thornton started on or before March 15, 2020 (current customer contracts, orders, records, or other proof of current operation and residency)
- Certificate of Good Standing with the State of Colorado from https://www.sos.state.co.us/
- Cash Flow Sheet or Profit & Loss statement with a 1% or more positive profit prior to March 2020
- Proof of negative impact related to COVID-19 on or after March 15, 2020 (based on their financial data such as loss of employees, revenue, clients and or contracts, or other data as compared to months prior to COVID-19.)
- Itemized statement of qualified expenditures along with proof of payments such as receipts or paid invoices. Payments must be deducted from a business bank account between March 15, 2020 and date of application. Examples could include: additional expenses incurred as a direct result of COVID-19, primary recurring bills related to the operation of the business; assistance with accounts payable, verifiable recurring employee payroll, business insurance, Personal Protection Equipment (PPE), supplies or inventory that are necessary due to COVID-19, marketing and other business needs related to COVID-19 impact.