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Sunday, May 26, 2013

Connecticut Small Business Express Program is for Women- and Minority-Owned Businesses Too!

State of Connecticut Department of Community DevelopmentIn the state of Connecticut, 29 percent of businesses are owned by women and 13 percent are owned by minorities. Last year, the state's Department of Economic and Community Development started a program called the Small Business Express Program. The program awards grants to small businesses which helps both the businesses and the state remain active and healthy.

These grants are for everyone who qualifies, including women- and minority-owned businesses. Yet, so far only 12 percent of the grants have been awarded to women-owned businesses, and 6 percent to minority-owned businesses. Since the program began, a total of 689 small businesses have received grant money.

In an effort to assist more women- and minority-owned businesses to become aware of this grant program, here are some of the key components of the Small Business Express Program:
  • The program offers matching grants, revolving loans and job creation incentive loans.
  • Businesses receiving priority consideration include those that create jobs, and those in the fields of manufacturing, business services, green technology, bio science and information technology.
  • Businesses eligible for assistance must agree to remain in their location for five years.
  • Grants from $10,000 to $100,000 are available for job creation, capital investment and working capital.
  • Eligible businesses cannot employ more than 100 employees and must be in business 12 months or more.
Applications for grants are still being accepted; details are available on the state government's web site.

For more information, visit www.ct.gov/ecd/cwp/view.asp?a=3931&q=489792
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