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WBDC Equity Grant Match Program Now Open to Women- and Minority-Owned Connecticut Businesses

  • Women’s Business Development Council accepting applications for grant program open to women- and/or minority-owned businesses
  • Grants of between $2,500 and $10,000 available to qualifying businesses
  • Applications must be submitted by Feb. 15

The Women’s Business Development Council has started accepting applications for a grant program aimed at assisting women- and/or minority-owned businesses in Connecticut.

The Equity Match Grant Program provides grants of between $2,500 and $10,000 to help them pivot, expand, or restructure during the COVID-19 pandemic. The WBDC began accepting applications on Feb. 1, and will continue taking them until 11:59 p.m. on Feb. 15; applications that are incomplete will not be accepted after this deadline.

The business must have an established record of at least two years of sales, be registered with the state and in good standing, have an online or automated financial system such as Quickbooks, and have an established business banking relationship. Preference is given to applicants who have previously participated in WBDC programming.

In addition to WBDC’s application forms, business owners must provide an array of documentation showing that they meet these requirements. These include a business plan, financial records, a letter of good standing from the Connecticut Department of Revenue Services, tax returns, proof of business ownership and Connecticut residency, and a bank statement.

Business owners must have a “clear and specific use” for the grant money, which should be dedicated to clearly defined projects that will have a measurable impact on the business. The application includes a statement of 100 words or less on how the funds will be used, and business owners must also provide a 25 percent match of their own money, invested over the past 12 months or incrementally in the future.

The WBDC previously hosted several webinars providing further information on the grant program, and these are available on the organization’s website.

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