Women entrepreneurs have been disproportionately impacted by the ongoing COVID-19 pandemic.
But help is available for women-owned businesses in Connecticut that are struggling.
A new grant program has more than $1 million to help women entrepreneurs access the capital needed to build banking relationships, improve credit and overcome COVID-19 challenges.
The Equity Match Grant Program will be administered by the Women’s Business Development Council through its Opportunity Fund.
Corporate and private funders, which include most of the area’s major banks, have contributed $525,000 toward the fund, with the state Department of Community Development providing up to $500,000 in matching funds, according to a news release.
Grants between $2,500 and $10,000 may be given for “clearly defined projects that will have a measurable impact on the business.” Applicants are required to provide a 25 percent match.
To qualify, businesses should:
- Be a woman-owned business
- Have prior participation in WBDC programs/services
- Be in business with a record of sales for at least a year
- Be registered in Connecticut and in good standing
- Use an online/automated financial system or have an established business/banking relationship.
Apply for the grant program here.
Contact Natalie Missakian at news@newhavenbiz.com
