The COVID-19 pandemic continues to create challenges for the small business community in Rifle. Due to local, state, and national orders, many businesses continue to be forced to dramatically limit operations. This Fund is designed to help businesses bridge the gap in operating expenses while regulations are limiting operations.
To qualify for funding, businesses must meet the following criteria:
1. Applicant has been forced to limit operations due to the COVID-19 pandemic.
2. Applicant must have been open as of March 1, 2020 with a physical, store-front address within Rifle city limits. (Home-based businesses are not eligible.)
3. Applicant applying for the funding must be a small business with less than 50 employees and have local ownership.
4. Applicant must be in good standing with the City of Rifle and/or Colorado Secretary of State
5. Applicant must provide a line-item budget of the operating expenses for which the loan will be used.
6. Borrowers are strongly encouraged to work with the RREDC and the Northwest SBDC, over the course of the loan, on their business plan and model in order to have a higher likelihood of success.
Minimum/Maximum Loan Sizes:
Maximum loan amount will be $3,000 based on documented need/approved use of funds.
Applications:
or
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Media Contact: Kim Burner G.R.I.T. Manager, 970-665-6496 or Katie Mackley, Executive Director Rifle Regional EDC, 970-625-4202