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. We can support your conversion to employee ownership from start to finish.
We are constantly working to remove barriers to accessing our services. Our Technical Assistance fees are on a sliding scale, proportional to the size of your business, meaning that the price you pay will be determined by your company’s revenues. In addition, OEDIT is graciously offering funding for rural businesses to cover 50% or more of the cost of our services. This funding will be applied as a discount. Finally, the amount disbursed by the company to access RMEOC’s services are eligible for an additional tax credit program at the state level. Please contact us for more information on pricing.
RMEOC’s conversion services covered by the OEDIT funding 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.
Get Funded Today!
Fill out this short application and email Marion at [email protected] to confirm that we received your application. For any questions, please email us and we’ll be happy to set up a call.
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 [email protected] 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.