The Connecticut Women’s Business Development Council is reopening their Equity Match Grant Program. Applications are open now and will close February 13th. Grants between $2,500 and $10,000 will be awarded for clearly defined projects that will have a measurable impact on a business, its growth, and profitability.
The Women’s Business Development Council launched the Equity Grant Match program in January of 2021 to provide much-needed cash grants to women entrepreneurs throughout the state whose businesses have been disproportionately impacted by the COVID-19 pandemic. This is the third round of Equity Match Grant Program. The purpose of this grant program is to open opportunities for women to grow their businesses despite financial challenges as well as provide economic growth to Connecticut. Businesses must meet the eligibility requirements, and applicants are required to provide a minimum 25% match. The grant funds will not be available for use towards operating expenses, payroll, or real estate improvements.
● Businesses must be female-owned by 51% or more.
● The business has been established for at least two years before February 13th, 2022, with a record of sales.
● Business must be headquartered in CT, registered in the state of CT, and owned by a CT resident.
● The business is in good standing with the CT Department of Revenue Services (DRS) and the Internal Revenue Service (IRS).
● The business must have an established business checking account.
● The business must utilize a formal, digital bookkeeping/financial system such as QuickBooks.
● The business must have a record of annual sales/revenue in the last twelve months greater than $25,000.
● The business must be a for-profit business or a non-profit that derives 75% or more of the organization’s revenue from a social enterprise
● The business must be owned by a woman at least 18 years old.
For more information on the program and instructions on how to apply for the grant, visit the WBDC’s Equity Match Grant Program webpage.
The Innovative CPA Group strives to keep our valued clients informed of the opportunities available to them. If you are interested in applying for a grant under the WBDC’s Equity Grant Match program, we are readily available to assist. Please get in touch with us at 203-489-0612 or via our contact form.