'Don't Shutter Yet': State Lawmaker Says Relief Is On The Way for Small Businesses

DENVER (CBS4) - A bill that would provide $57 million in aid for small businesses could be on Gov. Jared Polis' desk by tomorrow. Under the bill, money is only available to businesses most impacted by COVID-19 restrictions. That includes: restaurants, bars, caterers, movie theaters, fitness clubs and cultural, arts and entertainment venues.

Individual artists are also eligible, and if a business is minority owned or in an especially hard hit county, it can apply for additional money.

"I wish there was enough money for everybody," said Rep. Shane Sandridge, one of the bill's sponsors.

To be eligible for the money, businesses also must prove they had an income of less than $2.5 million in 2019 and a loss in revenue of at least 20% since March 26.

They must also follow public health orders even if they're in a county like Weld County that doesn't enforce them.

"We don't want small businesses who are doing everything right to be penalized because their county commissioners choose not to follow public health orders," said Rep. Leslie Herod, the other bill sponsor.

The state will distribute the money to counties on a per capita basis, businesses will apply with their county, and grants will be based on income. The more the company made and lost, the bigger the grant. They're capped at $7,000 and the average grant will be about $1,700.

"We know that we have to have the administration to get it out, but we want you all to know  this money is coming," said Herod. "Our goal is to make sure you can come back and have a chance at recovery. Don't shutter yet."

A separate bill would allow restaurants and bars to keep up to $2,000 a month in sales tax. Another type of business lawmakers are targeting for relief is licensed child care centers. The state says 10% of them have closed since March.

A bill that's passed the House and received initial approval in the Senate would provide $45 million in aid to licensed and open child care centers. Grants would range from $500 to $50,000 and be based on the center's capacity, need and location. The money, however, won't be available for a couple months.