The Middlesex County Revitalization Commission is offering grants of up to $25,000 to qualified small businesses in Middlesex County.
Donor Name: Middlesex County Revitalization Commission
State: Connecticut
County: Middlesex County (CT)
Type of Grant: Grant
Deadline: 05/19/2023
Size of the Grant: $25,000
Details:
Business Operating Grants are designed to provide operating assistance for small businesses to continue operations and keep residents employed.
Funding Information
- The maximum assistance amount will not exceed $25,000.00 per business per grant year.
- The total grant amount per business will be based on the documented need of the business and available resources.
- MCRC will determine if a matching component of the grant will be required.
Uses of funds
- Applicant must demonstrate that the operating funds are necessary and sufficient, when combined with any other sources, to sustain the business, and increase and/or retain jobs. Grant funds are intended to support ongoing operations following unanticipated or anticipated interruptions of business, including that from planned and ongoing road/infrastructure projects in Middlesex County, for example, the Haddam/East Haddam Swing Bridge reconstruction project.
- The approved use of funds is anticipated to be rent/mortgage, inventory, equipment and technology, software as a service use, and other fixed costs, including costs associated with supply chain disruption, increased employee travel time/mileage expenses, increased vendor costs, loss of income, additional marketing expenses.
Eligibility Criteria
- The business must be based in and have operated in a Middlesex County town for at least 24 months.
- This is a business retention and growth initiative for existing Middlesex County businesses. Startups will not be considered.
- The business must have no more than 50 employees and annual revenue of less than $8 million.
- The business may be a for-profit United States Corporation, LLC, partnership, sole proprietorship, or a non-profit organization [501(c)3 or 501(c)4] and possess good character and reputation.
- The applicant must be in good tax standing with the State of Connecticut Department of Revenue Services.
- The applicant must be compliant with the Connecticut Department of Labour Office of Unemployment Assistance and all applicable state and federal employment laws and regulations, including but not limited to minimum wages, unemployment insurance, workers’ compensation, and child labour.
- The business must be in good standing with the town where they are located.
- The business must be up-to-date on all prior MCRC and state lending programs, if applicable.
- The business must be in operation, even if working remotely.
- The grant assistance must result in continued or increased employment for one year from the date of grant acceptance.
- MCRC Business Operating Grants can fund a business only once in a calendar year; any future applications to the program from the same business will require additional documentation and review.
- Please note: even if the business meets these conditions, it will be disqualified if it has any of the following:
- Active bankruptcies
- Owners with unpaid child support
- Outstanding tax liens / judgments.
For more information, visit MCRC.
