The CT CARES Grant program, which provides $5,000 grants to small businesses who've lost 20% of their revenue or more this year due to the Covid-19 pandemic, will open applications tonight at 8:00 p.m.Click here to access the application.
When applying, have the following information ready:
Social Security number
Federal EIN number
State TAX ID number
Bank Routing Number
Your total revenues for January 1-Sept. 30, 2019
Your total revenues for January 1-Sept. 30, 2020
The CT Department of Economic and Community Development continues to hold office hours to answer your questions on this program every day this week and over the weekend. If you have any questions about the program and what you'll need to apply, just click here to see their office hours schedule and connect to a DECD representative. The office hours links are on the bottom of the page. And of course, you can always call the Chamber at 860-688-5165.
We are assured that the application for this grant will be short and simple.
Requirements announced so far include:
Fewer than 20 FTEs on payroll or a 2019 payroll expense of less than $1.5 million.
Revenues for Jan-Sept 2020 are 20% under those in Jan-Sept 2019.
The grants can be used for payroll, rent, utilities, inventory, purchase of machinery or equipment, or costs associated with compliance of the ongoing Reopen Connecticut Business Sector Rules.
Sole proprietors and home-based businesses are eligible.
The application will be a simple online form that will become available November 9.
Qualifying businesses and nonprofits will receive a $5000 grant by December 30.
Business must have been established by October 1, 2019.
For-profit businesses that use any type of incorporation are eligible, as are 501(c)(3), 501(c)(4), 501(c)(6), 501(c)(7), and 501(c)(19) nonprofit organizations.