Business Economic Assistance

Council Passes Resolution in Support of Local Businesses and Coronavirus Mitigation Efforts

During a special meeting on Wednesday, May 6, 2020 City Council passed Resolution 2731, which expresses support for any private business owner who chooses to establish policies intended to help reduce the spread of the coronavirus, as in the requirement to wear non-medical face coverings when entering the premises. The City’s trespassing ordinances allow for these restrictions by private business owners when notice is posted.

The City has created “Face covering required” signage for any business who wishes to use it. If you are interested in such a sign for your business, email us at

Restaurants and other businesses may now open with strict precautions

The State of Colorado announced that additional Colorado businesses, including restaurants, can begin to reopen with strict precautions to protect public health and safety beginning May 27.

Learn more about the extended Safer-at-Home Executive Order at, including a summary of requirements for both restaurants and their customers.

City of Golden

City of Golden COVID-19 Business Recovery Loan Program

Loan Application Submission Period Now Open

The City of Golden (City) COVID-19 Business Recovery Loan Program application submission period, second round, has now closed.

Please note that all applications will be given equal consideration for approval now that the application period has ended. This is NOT a first come, first served program.


The City of Golden (City) COVID-19 Business Recovery Loan Program is a City program seeded by funds loaned by the Golden Urban Renewal Authority (GURA) and Golden Downtown Development Authority (DDA) to provide direct business recovery assistance to small businesses throughout the community affected by the COVID 19 pandemic. Although both organizations have specific geographic areas of focus and traditional investment, due to the severe impacts to the entire Golden community that will negatively impact their specific geographic areas, these resources will be targeted citywide on a limited one-time basis, and then returned to the funding agencies.


The fund will quickly deploy loan-based recovery funds to small businesses in Golden struggling from the COVID-19 shutdown. Some businesses may be expected to repay these loan resources after they receive adequate funding from the federal stimulus programs administered by the Small Business Administration (SBA); however, many businesses would be expected to retain these recovery loans for the length of the term.

Eligible Business Types

  • Retail/food service/lodging/personal services (i.e. spas, barbers, salons) and small healthcare providers (i.e.-dentists, massage therapists), and general commercial uses.
  • Independently-owned local business in a property zoned Commercial or Industrial and with a physical establishment within the official City limits.
  • Individually-owned franchises (including locally-owned/closely held LLC or similar) are eligible.
  • Corporately-owned franchises are not eligible.
  • Big box stores over 20,000 sf are not eligible.
  • Home-based businesses are not eligible.
  • Residential short-term rentals are not eligible.
  • Residential rental properties are not eligible.
  • The applicant must be current on all Golden sales tax and fees, or under an approved payment plan.
  • Borrower cannot be the subject of a bankruptcy proceeding.

Loan Uses

  • Loan proceeds must be used for legitimate business purposes to include: rent/mortgage on the physical business location; payroll; utilities; insurance; inventory; and physical or other adaptations to address re-opening. Businesses are encouraged to take advantage of other sources of funds as well (like the CARES Act PPP and EIDL programs) where available for specific purposes.

Loan Terms

  • Businesses may apply for loans up to:
    • 75% of 2019 city sales tax (3% tax rate) remittances up to a maximum of $30,000 OR
    • 2.25% of 2019 revenues up to $30,000 (for businesses that don’t pay City of Golden sales tax)
  • Length of loan = 4 years (All loans will have the same period – January 1, 2021 thru December 31, 2024.)
  • No interest accrues and no principal payments or interest are due until January 1, 2021.
  • Interest rate starting January 1, 2021 = 3.25% if using electronic payments. Interest rate is 3.5% if paying by check.
  • While no collateral will be required, the loan agreement will include a personal guarantee.

Application Process

  • Second-round applications will be accepted between Tuesday, May 19, 2020 and end of business on Monday, June 1, 2020.
  • All loan applications received in the initial application period will now be reviewed for eligibility and the criteria specified below. The Program Advisory Committee reserves the right to further prioritize loans, or proportionately reduce loan amounts, if the demand exceeds the fund resources, in order to achieve the objective of the program.
  • If there are funds remaining after the initial funding period, an additional application period will be announced.

Initial Screening Review Criteria

  • Type of Business
  • Retail, Food Service, Lodging: 10 pts
  • Personal services, small health care:   5 pts
  • Years in Business:  scale of 1-10.  1 point for each 2 years in business
  • 1-2 years = 1 pt
  • 2-4 = 2 pts
  • 4-6 = 3 pts
  • 6-8 = 3 pts
  • 8-10 = 4 pts
  • 10-12 = 5 pts
  • 12-14 = 6 pts
  • 14-16 =  7 pts
  • 16-18 =   8 pts
  • 18-20 =   9 pts
  • Over 20 = 10 pts
  • Business Status:
  • Open and generating income:  1 pt
  • Closed (or reduced) by owner choice: 5 pts
  • Closed (or essentially closed down) by action of gov’t: 10 pts

Conflict of Interest

  • Businesses owned by members of the joint Program Advisory Committee, or City staff or City Council are not eligible for this program.

Loan-Servicing Funds Disbursement

  • The City is partnering with On Tap Credit Union for funds disbursement and loan servicing. Successful loan applicants will be required to open an account at the On Tap Credit Union and authorize electronic loan payments. The program is not obligated to disburse all funds identified should the City, GURA, and DDA determine that the program is not meeting stated goals.
  • If approved for the loan, borrowers will be required to provide the following (but not limited to) information:
  1. Businesses will need to demonstrate a financial need for this grant, and documentation can include, but is not limited to:
    1. Documentation that they have been forced to temporarily close or its operations have been dramatically impacted due to COVID-19 public health orders.
    2. 2019 City of Golden sales taxes or 2019 revenues
    3. 2020 year to date revenues
    4. Provide support for the monthly rent or mortgage payment amount, such as an executed lease agreement or mortgage coupon.
  2. Documentation showing whether applications have been made for SBA grants/loans or other financing commitments to assist their future viability of operations due to lost revenue from COVID-19 (PPP, EIDL, etc.)
  3. Current with Golden sales tax and fees, or under an approved payment plan.
  4. Standard borrower loan information as required by On Tap Credit Union, the loan servicing agent.

All applications and associated materials will be considered confidential. Only complete applications will be accepted, and all submissions will become the property of the City of Golden.

Questions? Email or call (303) 384-8080.

Sales Tax Help available for Local Businesses

Business sales taxes were due on Friday, March 20, 2020. However, if you reach out to the City’s Finance Department before March 31, 2020 we will offer additional options for businesses to file sales tax payments to assist businesses struggling with cash flow: 1) businesses can set up payment plans for sales tax payments due, and 2) waive any penalties associated with failure to pay on time. Businesses should contact the Finance Department sales tax at 303-384-8024.

COVID-19 Community Response Fund

Set up by the Golden Civic Foundation, the Relief Fund will award grants to local front-line non-profit organizations for rapid deployment to support the most critically impacted members of the Golden Community.

Your much-needed donations to the Community Response Fund will assist community members struggling with access to food, housing, and other financial burdens during the pandemic, as well as economic recovery following the crisis.

Golden Civic Foundation Emergency Relief Loans

The Golden Civic Foundation  is providing an emergency relief loan program to downtown Golden businesses and nonprofits in response to local economic losses related to the Coronavirus (COVID-19). The Foundation’s funding enables loans to be available to eligible businesses and nonprofits with zero interest and no payments for four months. If not repaid in four months, the loan may convert to a one to five-year term loan with interest.

The goal of the program is to provide temporary bridge loans to keep small businesses solvent during these economically challenging times. The loans may be used for (but are not limited to) expenses such as payroll, rent, inventory, etc. The program is being financed by the Foundation’s Foss Fund which was created more than 20 years ago with the goal of providing low interest loans for the benefit of Golden businesses.

Visit Golden/Good to Be Golden

Does your restaurant offer carryout? Update your free listing on Visit Golden/Takeout Takeover Golden.

Questions? Email

Volunteer in your community!

Volunteers of all kinds are needed, from food pantry help to delivering food to administrative help. The Neighborhood Rehab Project is helping organize the assistance, matching volunteer skills to community need. Please sign-up to volunteer and make a difference in our community.

Federal Resources

U.S. Small Business Administration

In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak including:

  • Paycheck Protection Program – This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
  • Economic Injury Disaster Loan Emergency Advance – Congress has appropriated an additional $60 billion for this program as of April 23. This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
    • Eligible businesses should prepare now for when the loans reopen and promptly apply by working in partnership with their local lending institution.
    • For more information, please visit or the SBA Paycheck Protection Program.
    • You can also contact the Office of Economic Development and International Trade (OEDIT) Small Business Navigator COVID-19 Response Hotline at 303-860-5881.
  • SBA Express Bridge Loans – Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
  • SBA Debt Relief – The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.

Learn more about SBA Coronavirus Relief Options.

U.S. Chamber of Commerce

Jefferson County

Jefferson County Economic Development Corporation

JEFFCO EDC offers a detailed list of business information and resources including the CARES Act above and several other small business assistance programs such as the Colorado Lending Source/Kiva, CDLE Rapid Response Program, JP Morgan Chase Assistance to Small Businesses, etc.  Read more at the Jeffco EDC Covid-19 page.

Jeffco Stay-at-Home Extension Guidance for the Business Community

Jefferson County has extended Stay-at-Home orders through May 8, but retail businesses may now offer curbside services so long as certain requirements are met.

State of Colorado

The State of Colorado is offering emergency programs and guidance for individuals and businesses and guidance aimed at combating the economic impacts of the novel coronavirus pandemic. These include unemployment insurance, a special healthcare enrollment period, economic disaster loans for small businesses, and more. Check the Colorado Covid-19 Business Resource Center for information and updates.

The Colorado Department of Labor and Employment is offering expanded unemployment insurance benefits including those who are self-employed, independent contractors, gig-economy workers, and others.

For health updates, closures and other information, check with the Colorado Department of Public Health and Environment.

Colorado Restaurant Association

The Colorado Restaurant Association (CRA) offers information for businesses and employees, including takeout/delivery guidance, and how to file for unemployment benefits.

COG Mesa

 Did You Know?
Golden was originally chosen as the territorial capital of Colorado in 1862.

Additional Resources

City of Golden, Colorado
COG Mesa