Enhance Broomfield provides grant funding to businesses who want to expand capacity of existing operations, facilitate the creation of jobs and invest in the long-term sustainability and vitality of their business. The program has recently awarded a total of $117,500 to eight small Broomfield businesses!
The Enhance Broomfield program applications are now open and will be accepting applications through November 30, 2022. Applicants are encouraged to read all of the rules and contact Jeff Schreier, Business Development Lead, with any questions or assistance.
The intent of the Enhance Broomfield program is to assist new and existing businesses by funding projects that will benefit the residents of the City and County of Broomfield through:
- Remodeling worker or customer spaces to increase capacity or activity
- Architectural services
- Within defined limits for marketing activities and signage
- Working capital which may be utilized for all operating expenses of business
- Purchase or lease of equipment, fixtures and furniture
- Modifications to make the business more competitive/increase business traffic
- Website or app creation/functionality updates to be more competitive/increase sales and traffic
- Loan interest payments for the activities listed above, the interest rate on the loan may not exceed 10% (this rate maximum is subject to change by the City and County of Broomfield based on market rates)
- Expansion of the business to a new location if the new location is within Broomfield.
The funds are available on a first come, first served basis. For 2022 there will be two funding rounds of $117,500. The first round will have open applications from July to August with awards in September and the second round will have open applications from October to November with awards in December.
Applications may be submitted at any time as long as funds are available. The City and County may award up to 50% of the funds prior to the rounds closure if staff find that a project warrants an earlier release of funds. The City and County may substitute or supplement awards with CDBG COVID funds depending on the COVID impacts on the business. This would be determined on a case by case basis using the evaluation criteria identified below as well as the timeliness of the project.
Applications may be evaluated by Broomfield’s Economic Vitality staff for completeness and eligibility. Applications are then reviewed by a committee composed of staff using the scoring methods outlined under “Review & Approval Process” in the Enhance Broomfield Program Rules and Procedures. Following scoring by the committee, the City and County Manager may approve or deny the recommendations made for awards.
Any applicants with qualifying projects who do not receive an award are allowed to apply for future rounds.