Hartford business owners struggling to stay afloat after the economic tumult of the last year will get another chance to apply for emergency funding next week when the city opens up the third round of its small business assistance grant initiative.
Hartford officials said they’re partnering with the Hartford Foundation for Public Giving, Capital for Change and several other business and technical assistance organizations to provide $930,000 in emergency relief. The city will contribute $750,000, while the Hartford Foundation for Public Giving will put forward the remaining $180,000.
This time around, the business aid program will provide grants of up to $7,500 to eligible applicants as funds allow. The money can be spent on inventory, new workers or capital improvements that enhance safety, among other uses, according to organizers.
“We worked quickly to get small businesses support early in the pandemic, but they still need our help as they recover from the pandemic,” said Mayor Luke Bronin. “We’ve been successful in getting these grants to small businesses who’ve had trouble accessing other programs, and we’re looking forward to providing support to even more Hartford businesses.”
The application for funding will be made available through Capital for Change’s website, www.capitalforchange.org, starting at 8 a.m. on Wednesday, Aug. 4. The application will remain open until 5 p.m. on Wednesday, Aug. 25.
To qualify, businesses must be located within the City of Hartford and generate less than $500,000 per year. Applicants must also be able to provide at least one federal tax return.
Principal owners of multiple businesses will only be eligible for a single grant.
Hartford distributed more than $2 million in grants in the first and second rounds of its small businesses assistance program, which took place in the summer and winter of 2020, respectively. More than 70% of those grants went to minority- or women-owned businesses, city officials noted.
Small businesses that received funding in either of the first two rounds will be eligible to apply in the third round.
