The Women’s Business Development Council is offering grants of up to $10,000 to qualified women-owned small businesses in Connecticut.
The Equity Match Grant Program is designed to help women-owned businesses grow. Competitive grants from $2,500 up to $10,000 will be awarded to applicants with clearly defined projects that will have a significant impact on their business, growth and profitability.
Applicants are required to provide a minimum 25 percent match, and grant funds cannot be used for operating expenses, salaries, reimbursement for past purchases, debt repayment and other related expenses that can be found on the Council’s website.
Eligibility guidelines for a business to apply include the following:
– Be 51% or more woman-owned
– Be headquartered in Connecticut, registered in the state and owned by a state resident
– Have been in business for at least two years before Feb. 28, 2023 (business must have been established by Feb. 28, 2021) with a record of sales
– Have a record of annual sales/revenue in last twelve months greater than $25,000 and less than $2 million.
– Be in good standing with the Connecticut Department of Revenue Services
– Have an established business checking account
– Currently utilize a formal, digital bookkeeping/financial system (e.g. QuickBooks, Sage, FreshBooks, Wave Accounting)
– Be a for-profit business
– Be owned by a woman who is at least 18 years old
Creative Me Childcare LLC, based in New Haven, lauded the Equity Match Grant Program for helping with a grant which it used to expand daycare space and hours during the COVID-19 pandemic.
“With extended hours, families and siblings are allowed to be able to stay at one program throughout the duration of the day, without all the changing or switching,” said owner Mechele Ellis.
Ellis lauded WBDC as an “oasis” for women business owners and entrepreneurs.
“It’s the hub for women supporting one another, giving feedback and passing information and sharing resources,” she said. “What an amazing organization to be a part of.”
The deadline to apply for a grant is Feb. 28 and can be done online by visiting HERE.
