Posted on October 22, 2020 by cthomas
The Connecticut CARES Small Business Grant Program has been created to assist small businesses and nonprofits that have been impacted by the economic downturn caused by the global COVID-19 pandemic. The program will provide businesses and nonprofits in Connecticut that have fewer than twenty employees or a 2019 payroll of less than $1.5 million with a one-time grant of $5,000.
Half of the funds will be committed to small businesses and nonprofits that are located in towns and cities designated as “distressed communities” (based on need for services, residents’ personal income, and tax base). This includes the Town of Stratford.
The Department of Economic and Community Development (DECD) estimates it will begin accepting online applications the week of November 9, and all of the funds are anticipated to be disbursed by December 30.
Information on eligibility requirements, upcoming webinars, and other aspects of the program will be published on the state’s business portal at business.ct.gov.