The Town of Canton Business Stability Fund provides limited, one-time direct financial assistance to eligible Canton small businesses that employ 25 or fewer employees and that have been adversely impacted by the COVID pandemic.
Donor Name: Town of Canton
State: Connecticut
Town: Canton
Type of Grant: Grant
Deadline (mm/dd/yyyy): 05/13/2022
Size of the Grant: up to $15,000
Details:
The Program is funded through the American Rescue Plan Act (ARPA) grant funds. The Program is intended to help small businesses and nonprofits recover from the public health emergency and become stronger in the current marketplace.
The total amount of funding available for this round is $50,000. It is anticipated that there will be a future round of similar funding.
Funding Information
- Eligible businesses may apply for grants of up to $15,000. Funding is limited and it is anticipated that requests for assistance will be greater than funding on hand.
Businesses must have a clear and specific use for grant funds and demonstrate that such funds will be used exclusively for future expenditures directly related to the COVID pandemic.
Requirement/Eligibility
For purposes of this program, a small business will be defined as employing not more than 25 full-time equivalent (FTE) employees and must have operations in Canton. Sole proprietors and locally-owned franchises are eligible to apply. Residential or real estate projects including shortterm rental operators are not eligible. Town employees and elected and appointed officials are not eligible to participate in this program.
Additional criteria required when applying to the Business Stability Fund grant program:
- The business must currently be located in Canton and have been in operation as of January 1, 2019.
- As of February 1, 2022, the business has a maximum of twenty-five (25) full or full-time equivalent employees (FTE). One FTE totals 40 hours per week. This can be one employee or any combination of part-time employees whose weekly hours total 40.
- The applicant must be in good standing with the Connecticut Secretary of the State in terms of business filings.
- The applicant must be in good standing and current on its federal, state and local tax obligations and have no outstanding liens or judgements.
- The applicant must provide a written statement that will clearly identify the negative financial impacts of the COVID-19 public health emergency to the business and must identify how the grant request addresses the identified need or negative impact.
- Applicants will need to sign a certification that the information in the application is true, that the business sustained a negative financial impact as a result of the pandemic, and that grant funds will be utilized to offset operational costs at their Canton business location.
- The Town will need to track the impact of this initiative. Recipients must agree to assist the Town through follow-up surveys and/or interviews with a goal of measuring success of the program.
For more information, visit Town of Canton.
