Programs

Technical Assistance Funding for Rural Colorado Businesses

With the help of the Colorado Office of Economic Development and International Trade (OEDIT), we now offer funding to help offset the cost of Technical Assistance for converting your business to an employee-owned structure. The purpose of this funding is to keep businesses - and the wealth they create - in the communities they serve. 

This funding is limited; be sure to get in touch soon to secure it!

Eligibility

This funding through RMEOC is for businesses operating in rural Colorado counties as defined by the Colorado Economic Development Commission.

Businesses operating in the following counties are eligible:

Alamosa County

Archuleta County

Baca County

Bent County

Chaffee County

Cheyenne County

Clear Creek County

Conejos County

Costilla County

Crowley County

Custer County

Delta County

Dolores County

Eagle County

Elbert County

Fremont County

Garfield County

Gilpin County

Grand County

Gunnison County

Hinsdale County

Huerfano County

Jackson County

Kiowa County

Kit Carson County

La Plata County

Lake County

Las Animas County

Lincoln County

Logan County

Mesa County

Mineral County

Moffat County

Montezuma County

Montrose County

Morgan County

Otero County

Ouray County

Park County

Phillips County

Pitkin County

Prowers County

Pueblo County

Rio Blanco County

Rio Grande County

Routt County

Saguache County

San Juan County

San Miguel County

Sedgwick County

Summit County

Teller County

Washington County

Yuma County

Technical Assistance

RMEOC provides comprehensive technical services to ensure a smooth transition to employee ownership. Phase I consists of exploration and an in-depth feasibility study to assess the viability of a company to be converted to one of these two forms of employee ownership: worker-owned cooperative, or any Alternative Equity Structure (profit-sharing plans, phantom stock plans, etc.). Note: For companies looking to convert to an ESOP structure, we can assist you with that path but this funding does not apply to our Technical Assistance. Phase II consists of education, structuring of legal and financing matters, and worker-owner education and leadership development.

Funding

We always start off with a free consultation to make sure that employee ownership is right for you and to help you determine which form of employee ownership is best for your company and vision.

If employee ownership ends up being a good fit, this funding will cover 50% of the cost of our services to help you make it a reality. We can support you from start to finish. These services include:

Phase I

A feasibility study to determine the viability of your company’s conversion to the type of employee ownership you choose. This includes both financial and cultural feasibility and an overview of funding options to support the sale and/or transition.

Phase II

Education for your employees on employee ownership + assistance in structuring and completing the conversion.


In addition to this funding, the state of Colorado is also offering a 50% tax deduction on conversion costs paid by the company, including any additional costs for legal and/or tax assistance. This means that  in most cases, after discounts and deductions, you will only have to bear 25% of the usual cost of conversion.

Example

Our Technical Assistance fees depend on the size of your business. Phase I generally costs $20,000 for larger businesses, and less for smaller ones as the feasibility research is proportional to the size of the company. Phase II comes at a flat rate of $10,000. With both this Technical Assistance funding and the tax credit, here is what you pay:

PHASE I

$10,000 maximum $20,000 

50% tax credit


You pay: $5,000 or less!

PHASE II

$5,000 $10,000

50% tax credit


You pay: $2,500

Get Funded Today!

Fill out this short application and email Marion at marion@rmeoc.org to confirm that we received your application. For any questions, please email us and we’ll be happy to set up a call.

Convert your business to an employee-owned structure

Get funding of potentially up to $5,000

Get technical assistance throughout your transition

Fill out the contact form and we will reach out to you shortly

FAQ

How long does it take to get the funding?

The funding is applied as a discount to our services. You won’t have to wait for a refund from OEDIT or fill out a long grant application. Just be one of the first to sign a contract with us and we will manage the rest.

My business is in a rural area but in an ineligible county. Can I still apply?

Unfortunately, the regions eligible for this funding are determined and administered by OEDIT. We cannot provide funding to any business operating in ineligible counties. However, we would still love to work with you, and the state’s 50% tax credit still applies! Get in touch with us and we will find an affordable way to help. 


Businesses in urban areas may also be eligible for similar funding through another service provider. Get in touch with Marion at marion@rmeoc.org for more information.

I worry that many people have already applied and my company will not be selected.

We are constantly working to access new funding or renew our existing sources. We are confident that we can find a way to help you that is within your means. So send us an email, or apply anyway! We have designed this application to be very short, and to include the same questions we ask all companies we work with. That information will be put to good use, even if your funding does not come through. 

I am not a business owner, but I would like my employer to consider employee ownership. What can I do?

Get in touch with us! We will help you start the conversation with your employer. It is passionate people like you that make the change no one thought was possible. It all starts with a little curiosity.

Ready to get started?

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