The Colorado Employee Ownership Grant is available to Colorado-headquartered small businesses to pay for the reimbursement of professional technical services required to transition your business to become a Colorado Employee Owned Company.
Donor Name: Colorado Office of Economic Development and International Trade (OEDIT)
State: Colorado
County: All Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): 02/04/2022
Size of the Grant: $3,000
Details:
Professional services covered by this grant include accounting, legal, business valuation, and technical services. The grant may also be used to repay the Colorado Employee Ownership Loan.
Funding Information
Amount $3,000 per business.
Eligibility Criteria
To apply for the grant, your business needs to:
- be exploring an entity type offering at least 20% equity in the business to employees (excluding founders)
- be actively engaged with service provider(s) to transition to an employee ownership structure or have already
- transitioned your business to an employee ownership model between designated dates for that round
- be headquartered in Colorado
- be in operation for at least one year, or are a newly formed cooperative
- have at least 3 full-time employees (or 3 members if a cooperative)
- have annual net revenue of $5 million or less
Types of employee ownership structures that qualify include, but are not limited to:
- profits interest
- phantom stock
- stock appreciation rights
- stock options
- restricted stock
- cooperatives
- employee ownership trusts
- employee stock ownership plans
- Businesses must convert within a designated time period for their round of grant funding.
Eligible Expenses
Eligible expenses include:
- legal services accounting services
- business valuation services that are required to add an employee ownership structure to your business
- technical assistance
Ineligible expenses include:
- expenses that have been or will be reimbursed under any other program
- losses that have been or will be covered under any other program
- lobbying
- debt
For more information, visit Employee Ownership Grant.
