New & Noteworthy
Hartford to Open Third Emergency Grant Program Providing Nearly $1M to Hartford Small Businesses
Today the City of Hartford announced that it is partnering with the Hartford Foundation for Public Giving, Capital for Change, and several small business technical assistance providers to open a third round of small business grants, which will provide $930,000 to Hartford small businesses. The City is providing $750,000 and the Hartford Foundation will fund the remaining $180,000. This third round of the Small Business Emergency Assistance Grant Program follows more than $2 million in grants awarded in summer and winter of 2020. More than 70% of grants in the first two rounds went to minority or women owned small businesses in Hartford.
This round will open for applications on Wednesday, August 4th and will support small businesses with flexible funding, allowing them to purchase inventory, help hire more workers, make capital improvements to enhance public health safety, and more. The Small Business Emergency Assistance Grant Program was created to support small businesses that may struggle to obtain funding from other federal or state initiatives, or to support cases where the funding is not enough or too restrictive.
“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. We are deeply grateful to the Hartford Foundation for investing in our small business grant program in such a significant way last year, and their continued attention to small businesses in Hartford. I also want to thank Capital for Change and the small business associations who will help our businesses apply and access these funds.”
“Many small businesses in Hartford have sustained large revenue losses since the beginning of the pandemic due to closures, decreased capacity and reduced traffic in the City,” said Hartford Foundation President Jay Williams. “These businesses employ local residents and create more vibrant neighborhoods. We know that small businesses owned by women and people of color face particular challenges and often lack the capital they need to survive. We are pleased to be able to once again partner with the City of Hartford and other key stakeholders to provide these businesses with the support they need to succeed as people return to the City for work and school.”
Hartford Foundation dollars will be allocated entirely to minority and/or women-owned small businesses or businesses located in lower-income neighborhoods in Hartford. This effort supports the Foundation’s strategic outcomes to support employment and wealth-building opportunities for Black and Hispanic residents and increase investment in Hartford neighborhoods.
How to Apply & Grant Eligibility:
Grants of up to $7,500 will be available to businesses as funds allow. Eligible businesses must: (a) be located within the City of Hartford, (b) be able to provide at least one federal tax return, (c) have positive annual revenues not exceeding $500,000 for the submitted tax years, (d) have an EIN and/or DUNS number, if applicable. Other eligibility requirements will be available in the grant application. In an effort to make grants available to as many business owners as possible, principal owners of multiple businesses will only be eligible for one grant. Small businesses that received grants in either of the first two rounds will be eligible for this third round of funding.
An application will be accessible on the Capital for Change website, www.capitalforchange.org starting at 8 A.M. on Wednesday, August 4th and will close at 5 P.M. on Friday, August 20th.
Interested businesses are encouraged to reach out to the following technical assistance providers for help with their submission. These providers can ensure that businesses are eligible and ready to submit once the application portal opens:
- Blue Hills Civic Association, Vickie Gallon-Clark, (860) 560-7360, email@example.com
- Upper Albany Main Street, Marilyn Risi, (860) 768-5747, firstname.lastname@example.org
- Upper Albany Merchants Association, Fay Santouse, (860) 532-9574, email@example.com
- Spanish American Merchants Association (SAMA), Julio Mendoza, (860) 278-5825, firstname.lastname@example.org
- Entrepreneurial Center, University of Hartford, Sheri McMillen, (860) 768-5652, email@example.com