Posted on November 13, 2020 by admin
The Connecticut CARES Small Business Grant Program began accepting applications from small businesses at 8:00 p.m. on Thursday, November 12.
The program will provide small businesses and nonprofits that have a 2019 annualized payroll of less than $1.5 million or 20 or fewer employees with a one-time grant of $5,000. All funding will be disbursed by the end of December and will not require repayment.
The grant can be used for rent, payroll, utilities, inventory or complying with the CT Reopen Business Sector Rules. Full details including eligibility requirements, a schedule for virtual office hours, FAQs, other resources, and the application can be found here.
The $50 million program, funded from Connecticut’s portion of the federal CARES Act, will provide aid to small businesses and nonprofits that continue to be negatively impacted by COVID-19.
The grant application will only be available for a limited time. It is anticipated that the application period will close by 5:00 p.m. on Thursday, November 19, however that is highly dependent on demand. All interested small businesses and nonprofits are encouraged to apply as soon as possible.