The Colorado Office of Economic Development and International Trade (OEDIT) is seeking applications for its Employee Ownership Grant.
Donor Name: Colorado Office of Economic Development and International Trade (OEDIT)
State: Colorado
County: All Counties
Type of Grant: Grant
Deadline: 11/04/2022
Size of the Grant: $3,000
Details:
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. Professional services covered by this grant include accounting, legal, business valuation, and technical services.
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. If you have any questions about whether you are eligible, please contact the program manager below.
For more information, visit Employee Ownership Grant.
