Exponential Impact, City of Colorado Springs award $1.2 million to support small business recovery and growth following the pandemic
COLORADO SPRINGS, Colo. - Through the Survive and Thrive: Propel COS program, Exponential Impact and the City of Colorado Springs awarded $1.2 million in funding to 53 local businesses struggling with the lingering negative effects of the pandemic. The City is financially supporting this endeavor through its American Rescue Plan Act (ARPA) allocation. Awarded businesses are receiving a grant up to $50,000, with the average grant size of $22,650.
“The City is pleased to partner with Exponential Impact on this important funding allocation through the Survive and Thrive program,” said Bob Cope, Colorado Springs’ economic development officer. “These grants will not only support 53 businesses significantly impacted by the lingering effects of COVID, this funding, along with the wraparound services, will propel these local businesses forward as we head into 2023.”
Survive and Thrive: Propel COS links funding to address lingering negative COVID impacts and programming to provide support and guidance to businesses that will help them stabilize and grow. Along with financial support, the businesses will participate in an eight-week program run by Exponential Impact.
“The team at Exponential Impact (XI) is thrilled to work closely with the business owners over the next two months through the Survive and Thrive program. The curriculum, expert sessions, and mentor workshops are designed to support the businesses in developing strong financial foundations, creating a game plan to thrive and reach new heights as a business in the future, anticipating challenges, improving visibility, and telling the story of one’s business and its value proposition” said Exponential Impact’s Executive Director Vance Brown.
Survive and Thrive: Propel COS received more than 250 applications, and the recipients were selected following a multiphase review process. Awarded businesses are located throughout Colorado Springs, with 19 zip codes included in funding. The businesses represent a variety of industries including hospitality, retail, personal service, and manufacturing.
For more information on the grant program visit Exponentialimpact.com/SurviveAndThrive.
Quotes from grant recipients
Ormao Dance Company and Momma Pearl’s Cajun Kitchen are two of the businesses selected for the Survive and Thrive: Propel COS program.
“Ormao Dance Company is honored to have been selected to receive grant support from Propel Survive & Thrive at Exponential Impact,” said Jan Johnson, executive and artistic director of Ormao Dance Company. “To rebuild our impact in this community, this grant will support our work with middle and high school students through our Hands are for Holding program that’s focused on tools for healthy relationships, boundaries and consent, as well as increased wages for our essential experienced staff. The business training and mentors will provide invaluable information about current best practices for business growth that we could not afford without the support of Exponential Impact.”
“Like many independent Colorado Springs restaurants, Momma Pearl’s Cajun Kitchen has experienced numerous challenges during the pandemic,” said Chef Robert and Becky Brunet of Momma Pearl’s Cajun Kitchen. “Over the past three years, we’ve struggled with supply chain disruptions, operating restrictions, and rising labor costs coupled with decreasing staff availability. We are extremely grateful to the Survive and Thrive program for this most timely award. This grant clearly displays Exponential Impact’s and the City of Colorado Springs’ commitment to the Colorado Springs business community, their faith in our ability to make good on their investment, and in our ability to provide a thriving workplace for our employees. Thank you Colorado Springs for supporting us over the past nine years, we look forward to serving you tastefully in the years to come.”