Relief for Colorado Springs small businesses impacted by the COVID-19 outbreak is earning another infusion of financial support, with Colorado Springs Utilities contributing $92,500 to the Survive & Thrive COS recovery fund.
The decision to extend funding was approved Thursday, April 16 by our Economic Development Sub-Committee.
“As a community-owned utility, we are a strong contributor to the growth, vitality and quality of life in the Pikes Peak region,” said Colorado Springs Utilities Board Chair Jill Gaebler. “By supporting this program, we are directly helping retain small businesses and create jobs, benefitting us all.”
Non-profit Exponential Impact is leading the Survive & Thrive COS effort to provide recovery funding up to $25,000, mentoring and resources to increase the sustainability and future growth of small businesses in the Pikes Peak region. Recipients receive funding within days of their application’s approval, with all awards made over a three-month period.
“Colorado Springs Utilities’ generous contribution significantly bolsters the aid we can provide local small businesses. Our Survive & Thrive COS recipients and the program team thank them for this remarkable support,” said Natasha Main, executive director for Exponential Impact.
Main pointed to unparalleled investor and organizational support as reason for the initiative's success. In just three weeks, Survive & Thrive COS has raised $1.9 million and awarded $1,263,200 to area small businesses. Starting today, details on investments raised, funding awarded and participating industries will be available at exponentialimpact.com.
Survive & Thrive COS is a community effort led by Exponential Impact with invaluable support from the Pikes Peak Community Foundation, the Lane Foundation, the Colorado Springs Chamber & EDC, the City of Colorado Springs, El Paso County, and Colorado Springs Utilities.
Main added, “Because of the ongoing and intense demand, new or additional investments are needed and welcomed. We already see the program making a difference and know this work will continue to support resiliency, build community and develop healthy businesses.”