Additional $1.5M In Funding Announced For Arvada Businesses

ARVADA, CO — A second round of funding — $1.5 million — was announced for Arvada businesses Monday. The funds will go to businesses that can demonstrate the highest need, city officials said.

"In particular, a portion of the funds will be targeted to restaurants, which are critical to the community’s economic vitality and create unique character, a sense of place and an overall attractiveness for people who live, work or visit Arvada," city officials said in a news release.

The funding is from the Coronavirus Aid, Relief and Economic Security —CARES — Act for Jefferson and Adams counties. The additional funds bring the total amount of support provided to local businesses to $4.3 million.

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The support is being offered in grants that range from $1,000 to $40,000, depending on the size of the company and the nature of revenue loss.

In allocating funding, the city said it may prioritize businesses that:

• are applying for the first time
• are disadvantaged
• show demonstrated losses including revenue loss projections
• have been most deeply impacted

Arvada businesses that accept the grants are expected to follow CARES Act requirements, officials said. Participants need to complete and return a funding recipient release form.

>> More information about the grant funding and application can be found here.