Here’s some need-to-know information for the week:
American Rescue Plan Act (ARPA) Small Business Grant Programs Report released
A news release is going out today on the release of a report summarizing outcomes of the Boulder ARPA Small Business Grant and Boulder ARPA Child Care Business Grant programs offered by the city summer. As you may recall, the grants were approved by council to help address lingering impacts of the COVID-19 pandemic and support inclusive economic recovery. Local small businesses, including women- and minority-owned businesses, were eligible for the one-time grants of $1,000, $2,500 or $5,000. Boulder ARPA Small Business Grants totaling $400,000 were awarded to 224 local small businesses in July 2022. While the number of eligible applications exceeded available funds, 85% of eligible applicants received a grant award. Many of the grants were made to businesses in industries or communities that experienced disproportionate impacts from the pandemic. More than half (53%) of the grants were awarded to restaurants or retail businesses, and 57% of the grants were made to women- or minority-owned businesses.
Boulder ARPA Child Care Business Grants totaling $55,000 were awarded to 11 local childcare businesses in August 2022. Just over one-third (36%) of the grants were awarded to women-owned businesses, including a bilingual preschool that serves “very low- to low-income families, specifically the underserved Spanish-speaking and immigrant population in the Boulder area,” as described by their website.
The full report is available online.
For more information about the ARPA Small Business and Child Care Grant report, please contact Economic Vitality Manager Jennifer Pinsonneault, 303-441-3017, PinsonneaultJ@bouldercolorado.gov.
Regards,
Nuria