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City of Colorado Springs to provide relief to small businesses in Pikes Peak region

City of Colorado Springs to provide relief to small businesses in Pikes Peak region
Posted at 4:08 PM, Mar 30, 2020
and last updated 2020-04-16 17:00:13-04

COLORADO SPRINGS — Help is on the way if you own a small business in the Pikes Peak Region.

Colorado Springs Mayor John Suthers, economic development leaders & members of the Pikes Peak foundation 'Exponential Impact', announced on Monday that they have launched a website called, Survive and Thrive COS Small Business Relief Fund, for small businesses that have been directly affected by the COVID-19 outbreak. .

“We believe in and need our small businesses,” said Exponential Impact Chairman Vance Brown, who is also CEO for the National Cybersecurity Center. “Survive & Thrive COS supports resiliency, builds community and develops healthy businesses and holistic leaders.”

The website is designed to be a place that small business owners can find a one page application and receive up to $25,000 in one week, with a three-year payback plan and zero interest in the first year, to help their business. Small businesses employing two to 25 employees can visit exponentialimpact.com to learn about criteria and apply for help.

"We are not going to ask you to personally guarantee this, we are not going to require you to collateralize this loan and we will not be standing in the way of you getting other funding that you might have made available," said Hannah Paersons, board member for Exponential Impact. "Our goal is to make this no barrier, and get the funding in to the business hands as quickly as possible."

The Pikes Peak Community Foundation and Bee Vradenburg Foundation have also partnered to provide emergency support for individual artists and creative professionals in El Paso and Teller Counties who are being adversely affected due to cancellation of performances, art openings, lessons or other revenue generating artistic activity due to COVID-19.

The Artist Recovery Fund will provide approximately $500 to cover the most immediate and essential expenses. The Fund is also seeking financial contributions to support their efforts, and all donations are tax deductible and 100% of contributions will go directly to supporting local artists in need. You can sign up here, for the relief.

The City of Colorado Springs will also waive penalty and interest charges for late payment of February and March sales and use taxes for businesses that are unable to meet these due dates due to impacts of COVID-19. The February and March sales and use tax payment deadlines will remain in place and waivers will be granted on a case-by-case basis.

The city will additionally waive the local late fees for restaurant and bar liquor license renewal for the duration of the declared State of Emergency for licensees that are unable to meet the renewal deadline as a result of the COVID-19 impacts.

For more information contact on both of these new waivers, the City recommends you contact (719) 385-5903 or visit SalesTax@coloradosprings.go for sales tax questions or 719-385-5901 or BusinessLicense@coloradosprings.gov. for liquor license questions.

The city plans to be providing additional economic incentives in the days and weeks ahead.