Advance Longmont Partners Launch Strongmont Fund
Longmont, CO, May 4, 2020 – In response to the unprecedented COVID-19 crisis and its vast negative impact on local small businesses and the economy, the Advance Longmont Partner Organizations have formed the Strongmont Fund. Comprised of funds from the City of Longmont, the Longmont Downtown Development Authority, the Longmont Economic Development Partnership, and donations from the broader community, the Strongmont Fund will provide grant funding to local small businesses as they navigate the re-opening process and adapt to the ‘new normal’. The Longmont Community Foundation is managing the fund and overseeing the grant application process.
The Strongmont Fund is a product of the COVID-19 Business Response Team (BRT), comprised of representatives from various Advance Longmont Partner Organizations – the City of Longmont, the Longmont Economic Development Partnership, the Longmont Downtown Development Authority, Visit Longmont, the Longmont Area Chamber of Commerce, the Latino Chamber of Commerce of Boulder County, the Boulder Small Business Development Center, Entrepreneurship for All, and Workforce Boulder County.
Some of the BRT’s efforts to date have included creating a coordinated business resources hub, administering surveys to understand impacts on local businesses, providing information and support navigating business assistance programs, and collecting feedback to guide its approach to providing assistance for our local business community. The BRT has continued to closely monitor developments at the Federal and State levels, advocate for the needs of the business community, and evaluate what gaps exist in funding and support for Longmont businesses. The Strongmont Fund was created to begin to address some of the funding gaps for our local businesses.
MAKE A DIFFERENCE TO LOCAL BUSINESSES
Donate to the Strongmont Fund
The community can support local businesses in a few ways. Donate to the Strongmont Fund via the Longmont Community Foundation. Many local businesses that are eligible for grants are part of the North Metro Enterprise Zone, a program that provides tax incentives to encourage businesses to locate and expand in designated economically distressed areas of the state – those having a high unemployment rate, low per capita income, or a low population growth rate. The BRT has successfully secured Enterprise Zone Contribution Project designation for the Strongmont Fund, which means that any donation of $100 or more will be eligible for an additional 25% state income tax credit. Donations are currently being accepted at https://longmontfoundation.org/giving-solutions/strongmont-fund/
Strongmont Grant applications for businesses will open on May 18, and any business that meets the criteria is welcome to apply. Interested businesses must complete the Citywide Needs Assessment to help guide the BRT in providing future support and advocacy for the Longmont small business community.
Purchase Strongmont Gear
Local merchandise agency BBP created the Strongmont logo, and the local support has continued to grow. To further benefit our local business economy, BBP has launched an online store for Strongmont merchandise, and will donate $5 from every Strongmont hat and t-shirt purchased to the Strongmont Fund. Strongmont merchandise can be purchased at https://www.surfbbp.com/store