Business Operating Grant Program 2024 (Connecticut)
The Middlesex County Revitalization Commission is offering grants of to qualified small businesses and non-profit organizations in Middlesex County.
Donor Name: Middlesex County Revitalization Commission
State: Connecticut
County: Middlessex County (CT)
Type of Grant: Grant
Deadline: 03/31/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: Grant Duration Not Mentioned
Details:
The grants are designed to provide operating assistance for small businesses and non-profit organizations to grow 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
To be eligible, the business or non profit must:
Be based in and have operated in a Middlesex County town for at least 24 months as of March 1, 2024 (this is a business retention and growth initiative for existing Middlesex County businesses. Startups will not be considered.)
Have no more than 50 employees and under $8 million in gross sales in 2023.
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.
Be in good tax standing with the State of Connecticut Department of Revenue Services
Be compliant with the Connecticut Department of Labor 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 labor.
Be in good standing with the town where they are located.
Be up to date on all prior MCRC and state lending programs, if applicable.
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:
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