COLORADO SPRINGS, Colo. (KRDO) — Colorado Springs Mayor John Suthers and different metropolis officers introduced a brand new enterprise aid fund meant to maintain small companies afloat through the COVID-19 disaster.
The initiative is named Survive & Thrive COS. It is a partnership between startup accelerator Exponential Influence and the Pikes Peak Group Basis, Suthers introduced throughout a press convention Monday afternoon.
The fund can be as much as a $25,000 mortgage with a three-year reimbursement plan. Small companies with two to 25 staff can go to exponentialimpact.com to be taught extra and apply for funds.
The funds are backed by donors, mentioned Hannah Parsons with Exponential Influence on the press convention.
“Something on the finish of the three-year interval that has not been repaid can be a charitable present to Exponential Influence,” mentioned Parsons. “However our aim is to return the funding on the finish of this system.”
Metropolis officers say the aim of the aid program is to make it as straightforward for small companies as potential.
“Conventional emergency funding packages are sometimes cumbersome and time-consuming. Survive & Thrive COS delivers important, speedy funding to native small enterprise house owners and nonprofits,” mentioned Gary Butterworth, the CEO of the Pikes Peak Group Basis, in a press launch. “In Colorado, most of our enterprise financial system is comprised of small companies. Due to clever and beneficiant contributors, enterprise house owners are receiving funding now and sustained assist.”
Along with the brand new fund, Metropolis officers additionally introduced they’re permitting companies to waive late funds of taxes and different late charges.
For extra particulars about this enterprise aid bundle, see right here.