Exponential Impact is reviving its Survive and Thrive program to help small businesses in low- and middle-income neighborhoods of Colorado Springs survive the rest of the COVID-19 pandemic.
The business accelerator has received $500,000 allocated to the city of Colorado Springs from the Coronavirus Aid, Relief, and Economic Security Act enacted in March. The funding will enable Exponential Impact to make 15-25 grants of up to $20,000 each to businesses with up to five employees in the 80904, 80909, 80910 and 80916 ZIP Codes. Applications will be accepted from Feb. 15-28 at exponentialimpact.com; businesses selected for the program must use the funds for rent, utilities, payroll or maintenance. The program also includes online training and mentoring.
"We need to know that the businesses who receive these grants were profitable before the pandemic and need a little boost to make it through the winter," said Natasha Main, Exponential Impact's executive director. "We are targeting micro enterprises, or owner-operated businesses that have fallen through the cracks of other (pandemic-relief) programs."
Wayne Heilman, The Gazette