In partnership with Arapahoe County, Centennial City Council has directed $5 million of city funding to support Centennial's small-business community, according to a city news release.
The Centennial CARES: Small Business Grants are intended to help small businesses in Centennial impacted by the COVID-19 pandemic cover costs of re-opening and adapting to COVID-19 compliance requirements.
Grant applications and more information are available at centennialco.gov/caresgrants. Applications will be reviewed in the order they are received.
The grant funds cannot be used for expenses that were previously paid for using the federal Small Business Administration's Payroll Protection Program or Economic Injury Disaster Loan funds.
Eligible businesses could receive up to $30,000 in two separate grants:
• The Business Interruption Grant provides up to $10,000 for business operation expenses including, but not limited to, lease or mortgage, payroll, inventory, and supplies or equipment necessary to operate the business.
• The Business Infrastructure and PPE Grant provides up to $20,000 for expenses incurred, or planned, toward complying with public health orders. Expenditures may include, but are not limited to, building and property modifications, touchless payment systems, online ordering platforms, personal protective equipment, and safety training.
Personal protective equipment refers to face coverings, gloves or other supplies to guard against COVID-19.
Grant payments to businesses were expected to begin as early as the week of June 22.
To be eligible, a business must:
• Be currently licensed with the City of Centennial.
• Have a business license issued no later than Oct. 1, 2019.
• Have a physical address in Centennial.
• Be in good standing with the city regarding tax returns, code violations and so on.
• Be a for-profit, privately held business.
• Have had 1 to 100 full-time equivalent, full-time employee positions prior to the COVID-19 pandemic.
• Have been forced to temporarily close or dramatically limit operations due to public health orders related to COVID-19.
• Be able to demonstrate economic injury of 25% or more in revenue loss during the pandemic and a need for a grant to help mitigate the economic injury.
• Be able to provide a total estimate of current and anticipated business losses, including revenue and other losses, due to the pandemic.
The following types of businesses are not eligible:
• Home-based or home occupations.
• National chains, but individually owned franchises may qualify.
• Publicly traded companies.
• Businesses deriving more than one-third of gross annual revenue from legal gambling activities.
• Businesses engaged in any illegal activity.
• Marijuana (medical and recreational).
• Sexually oriented businesses.
The grant funds cannot be used for:
• Any expense not considered an eligible business expense by federal Internal Revenue Service (IRS) rules.
• Wages to any member of the owner's family who is not a bona fide employee.
• Charitable or political contributions.
• Draw or salary to the owner that exceeded the amount they were paid on a weekly or monthly basis for the same period last year.
• Paying down or paying off debt by more than required in underlying debt instrument.
• Expenses that were previously paid for using the Payroll Protection Program or an Economic Injury Disaster Loan.
• Franchise or royalty fees.
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