BY AGREEMENT BETWEEN NEWSED AND THE CITY AND COUNTY OF DENVER
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Through November 29, NEWSED Community Development Corporation will be receiving applications for the “New Beginnings Access to Capital” program. This program benefits minority and women owned businesses established in the city and county of Denver. Applicants must have experienced a 25 per cent decline in revenue in 2020 as a result of the COVID-19 pandemic, generate $1 million in annual revenue or less, and have 25 employees or fewer.
These entrepreneurs would receive a maximum of $35,000 to stay open and implement new marketing strategies to adapt to the post-COVID economy. The beneficiaries of the program will also receive business and financial advice so that they can build credit score, reduce debts, increase savings, and have access to conventional financial capital sources.
Businesses that Serve the Public
Those businesses where employees and customers have frequent or close contact within 6 feet of people who may be infected will have the opportunity to receive this financial support. According to estimates by Denver authorities, these businesses were more negatively impacted during the pandemic. These businesses include retail, restaurants and food industry, personal care services, health care and social assistance, logistics, small manufacturing, security, among others.
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