Colorado small businesses may be able to access funding through business grants. This “free money” doesn’t need to be repaid, but it does require some work and time away from your daily business activities.
And while some grants are exclusively available to Colorado small businesses through local and state government agencies, you can broaden your search to include national grants open to businesses across the U.S.
Here are some small-business grants available to Colorado businesses and a few tips on how to manage the grant process.
Colorado-specific Small Business Grants
There are small-business grants, both local and statewide, that are available specifically to Colorado small businesses.
1. Office of economic development and international trade grants
The Colorado Office of Economic Development and International Trade offers a broad range of grants and funding opportunities. The following may be of special interest to small-business owners:
- Advanced Industries Export Grant (awards up to $15,000)
- State Trade Expansion Program (STEP) Grant (awards up to $10,000)
- Community Business Preservation Program (awards up to $50,000)
- Skill Advance Colorado Job Training Grant (award amounts not disclosed)
- Advanced Industries Early-Stage Capital and Retention Grant (awards up to $250,000)
- Innovative Housing Incentive Program (awards up to $350,000)
2. Customized job training grants
Contingent on available funding, the customized job training grants could be a good place for Colorado-based entrepreneurs to look for funding. These grants, provided jointly through the Colorado Community College System (CCCS) and the Colorado Office of Economic Development and International Trade (OEDIT), come in two varieties.
- Colorado First provides funds for businesses that are relocating to or expanding in Colorado to train new hires
- Existing Industry provides funds to established Colorado businesses to help them remain competitive within their industry, adapt to new technology and prevent layoffs
3. Small food business recovery & resilience grant
The Colorado Department of Agriculture offers grants to support small food retailers and small family farms with the goals of lowering the cost of healthy food and increasing access to it throughout the state. The Small Food Business Recovery & Resilience Grant offers awards up to $50,000 per business per year There will be three grant rounds during this final year of the program. Funds can be used for eligible equipment, point-of-sale machines, operating expenses and accounting and bookkeeping support.
4. First southwest community fund grants
Through a partnership between First Southwest Community Fund and Colorado Startup Loan Fund, grants of up to $15,000 are being offered to small businesses with 10 or fewer employees. These grants are designed to support underserved businesses located in rural Colorado and can be used for operating expenses, business planning, human resources and other business purposes.
5. Colorado springs grants
A number of small-business grants are offered through the nonprofit Downtown Development Authority located in Colorado Springs. Small businesses located in the downtown area of the city may be interested in the following grants:
- Building Enhancement Grants (awards from $10,000 to $50,000)
- Retail Incentive Grants (awards from $10,000 to $50,000)
- Tree Canopy Grants (awards from $2,000 to $12,000)
6. The Denver Foundation grants
The Denver Foundation (TDF), a Colorado-based nonprofit organization, focuses on the seven-county Denver metropolitan region. It offers several grants, generally focused on reducing racial, ethnic and economic disparities. Grant awards typically range from $20,000 to $50,000. Nonprofits located in the Metro Denver region with a 501(c)(3) designation can apply with grants cycles in the spring and fall of each year.
National Grant Programs Open to Colorado Businesses
Although they may not be specific to Colorado-based entrepreneurs, the following grant programs are open to businesses located throughout the U.S.
1. Grants.gov
If you’re interested in federal grants, Grants.gov, is a great place to find and apply for grants. The U.S. Department of Health and Human Services manages the website, but grant opportunities for all types of federal agencies can be found including those for the Department of Agriculture, Agency for International Development, Department of Energy and Department of the Interior.
2. National association for the self-employed (NASE) growth Grants
The nonprofit National Association for the Self-Employed (NASE) offers Growth Grants in amounts up to $4,000 to small businesses. Grant funds can be used for specific business needs, such as expanding facilities, hiring employees, advertising and marketing. NASE requires that you be a member of the organization and provide detailed information about need for funding, use of proceeds and impact on your business growth. Applications are accepted on a quarterly basis.
3. America’s seed fund
America’s Seed Fund is coordinated by the U.S. Small Business Administration (SBA) and is funded through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Grants that range from $50,000 to $1.8 million are designed to support small-business innovation and technology. The grant process is lengthy and takes a business from proof of concept through technology development to the final phase of commercialization.
4. WomensNet grants
For women business owners, the WomensNet awards offer a number of grant awards throughout the year. Amber Grants, Startup Grants and Business Category Grants in the amounts of $10,000 are awarded monthly along with annual awards of $25,000. These grants are available to both U.S. and Canadian businesses that are at least 50% women-owned. A single application will allow you to be considered for all three grants.
5. Program for investors in microentrepreneurs
Managed through the SBA, the Program for Investors in Microentrepreneurs (PRIME) offers funding for organizations, including nonprofits and Tribal Governments, that provide assistance to disadvantaged microentrepreneurs. This includes access to capital, training and technical assistance.
6. FedEx small business grant contest
If you have fewer than 99 employees and use FedEx for shipping, you may be interested in its corporate grants program which gives out cash awards and prizes annually. In 2024, 10 winners will be selected with one grand prize winner receiving a $50,000 grant and the others receiving $20,000 each. Applications will be accepted from March 1 – April 1, 2024. To be eligible you’ll need to have an active FedEx business shipping account that’s been open for a minimum of six months.
Programs and Funding in Colorado
| Program Name | Description |
|---|---|
| Advance Colorado Procurement Expo | Annual trade show for businesses to showcase goods and services to local and state government agencies. |
| Advanced Industries Export Grant | Grant for Colorado-based advanced industries technology businesses seeking to export or currently exporting. |
| Advanced Industry Investment Tax Credit | Tax credit encouraging investments in advanced industries businesses by providing tax credits to investors. |
| Bid Advance Response Program | 6-month mentoring program aiding small minority-, women-, and veteran-owned businesses in understanding and winning government bids. |
| Camino a las Certificaciones | Program assisting small businesses owned by minorities, veterans, and women in bidding and winning contracts with local, state, and federal governments. |
| Cannabis Business Loan | Loan fund for social equity licensed cannabis businesses to receive capital for building and improving their operations. |
| CannaBusiness Growth Technical Assistance | Educational program providing specific content to social equity cannabis businesses at no cost. |
| Cash Collateral Support | Credit enhancement helping small and medium-sized businesses in Colorado access loans by providing collateral support. |
| CLIMBER Loans | Working capital loans for Colorado small businesses negatively impacted by the COVID-19 pandemic. |
| Colorado Credit Reserve | Credit enhancement for businesses struggling to access bank loans. |
| Colorado Film Incentive | Incentive encouraging film production in Colorado through rebates on qualified expenses. |
| Colorado Opportunity Zone Program | Federal program encouraging investments in designated low-income communities through tax incentives. |
| Colorado Outdoor Recreation Industry Directory | Directory listing outdoor recreation businesses in Colorado. |
| Colorado Revolving Loan Fund | Fund providing loans to small to medium-sized businesses negatively impacted by the COVID-19 pandemic. |
| Colorado Small Business Development Center Tech | Program offering commercialization assistance and cybersecurity education for Colorado companies. |
| Colorado Startup Loan Fund | Loan capital for mission-based lenders to support Colorado entrepreneurs and small business owners. |
| Colorado State Small Business Credit Initiative | Federal initiative funding small business credit support and investment programs. |
| Commerce City Community Bridge Program | Program offering free assistance in English and Spanish to start or expand businesses in Commerce City. |
| Community Development Block Grant Business Loan | Loan program aiding rural businesses with loans and loan guarantees. |
| Connect2DOT Consulting | Assistance for small transportation businesses to bid and contract with the Colorado Department of Transportation and local agencies. |
| Cybersecurity Summit for Small Businesses | Annual event for businesses to learn about cybersecurity and risk management. |
| Employee Ownership Consulting | Consultations on transitioning to an employee-owned company. |
| Film Webinar Series and Events | Webinars addressing community engagement and education in the film and media industry during COVID-19. |
| HUBZones | Program supporting HUBZone-certified small businesses with federal contract preference. |
| MyBizColorado Registration Tool | Official filing tool for registering and managing businesses in Colorado. |
| Outdoor Industry Business Development | Support for outdoor recreation business development through research, partnerships, and trade missions. |
| Pathway to Certifications | Assistance in identifying certifications for minority, veteran-, and women-owned businesses bidding on government contracts. |
| Procurement Technical Assistance Center | Technical assistance for businesses selling to federal, state, and local governments. |
| Programa Conexión de Commerce City | Consultation program in English and Spanish for various business topics in Commerce City. |
| Resources for cannabis businesses | Resources including banking options and legal support for cannabis businesses. |
| Rural Jump-Start Program | Grant and tax credit program for new businesses in rural, economically distressed areas. |
| Rural Tourism Entrepreneurship Scholarship | Scholarship for tourism entrepreneurs to attend Small Business Leading Edge Training. |
| SBDC Disaster Relief Program | Assistance with disaster loan applications, planning, insurance navigation, and more. |
| Small Business Consulting | Free consulting services at various centers across Colorado. |
| Small Business Leading Edge Training | Free training services at various centers across Colorado. |
| Small Business Legal Assistance | Program offering small businesses a free consultation with a lawyer. |
| Small Business Loans | Listing of lenders providing funding for small businesses in Colorado. |
| Small Business Navigator | Assistance with federal, state, and local licensing requirements for small businesses. |
| Small Business Online Tools | Free resources providing checklists, templates, and tips for small businesses. |
| Small Business Training Workshops | Free and low-cost workshops to help businesses grow in Colorado. |
| State Trade Expansion Program Grant | Grant for small businesses expanding internationally through funding international business development. |
| Tourism Public Relations Promotion | Promotions aiding tourism partners and small businesses in marketing through public relations. |
| Venture Capital Authority | Partnerships for seed and early-stage equity investments in Colorado startups. |
How to Find the Right Colorado Small Business Grant
1. Narrow your search
Grants are often tied to a specific group, mission or industry. Look for grants that are relevant to your business or that relate to what’s unique about you or your operation. For instance, a search could be narrowed by looking for small-business grants for veterans, grants for Black women, grants for people previously convicted of felonies or technology grants for small businesses. Also, focusing on grants that you’re well-qualified for can help you during the evaluating process.
2. Manage your time to meet deadlines
The grant process takes time, especially your first application. Although you’re likely to become more efficient with each application, you’ll still need to devote time and energy to the process while not neglecting your day-to-day business operations.
Read Also: Seed Funding for African Startups This Year
It can be helpful to determine how much time you can realistically spend on grant-related activities — whether daily, weekly or monthly — and schedule that time on your calendar. Paying careful attention to application deadlines, can allow you to avoid missing them or wasting time on grants with submission deadlines that aren’t feasible.
3. Understand your eligibility
Many Colorado small-business grants have specific requirements for eligibility. Depending on the grants, requirements could be based on factors such as the following:
- Location of business.
- Number of employees.
- Characteristics of the owner (gender, race, ethnicity, etc.).
- Industry in which the business operates (farming, manufacturing, biotech, etc.).
- For-profit or nonprofit business.
- How the money will be used.
- Business goals and mission.
- Projected number of jobs created with funding.
- Size of the project.
- Who the business serves.
You’ll want to make sure you meet grant requirements before you apply. Also, the more relevant a grant is to what your business is doing, the more likely you’ll be in serious contention to win.
4. Be realistic about the process
Grants are competitive and winning a grant is not a given. Providing a persuasive argument for funding can be a major part of the grant application process.
Talking with a trusted mentor or using the free business consultants at your local Colorado Small Business Development Center or SCORE office, may be helpful in creating a needs statement and explaining how the funds could benefit your business, customers and surrounding community.
Also, be realistic about your chances of winning a grant. Because of the strong competition for grants, you may want to also look at small-business loan programs, such as SBA loans and traditional bank loans. Having an alternative plan is advisable, especially when you need money quickly for your business or if it’s vital to expanding operations.
Finally, understand that if a grant sounds too good to be true, it likely is. You’ll want to thoroughly research any grant program, especially if it’s being promoted through an unsolicited email or ad and requires a fee.
