Connecticut Small Business Grant Program
HEDCO and the Spanish American Merchants Association (SAMA) have partnered with the Officer of the Governor, the State of Connecticut, and the Connecticut Department of Economic and Community Development (DECD) to provide grants of up to $30,000 to small businesses throughout the State of Connecticut.
Through this program, small business applicants will also be connected to the organizations’ Ecosystem of Providers. This ecosystem will include lawyers, accountants, human resources, insurance agencies, marketing firms, and other providers to supply small businesses with the resources they need to start-up, sustain, or grow their enterprises – many resources which are too expensive or unattainable otherwise.
This program is designed for businesses seeking growth and long-term success. It will require an assessment process to identify and analyze areas of need. Experienced professionals will be available to guide participants through the process. The outcome offers valuable insights into strengths, weaknesses, growth opportunities, and strategies for overcoming challenges.
To be considered for this program, your small business must:
- Businesses must go through the assessment process provided by the program
- Be a for-profit business with no more than 25 full-time and/or part-time employees.
- Businesses must be a registered business operating in Connecticut.
- Be in good standing with the Department of Revenue Services (DRS) and the Department of Labor.
- Have been conducting business for a minimum of one year.
Terms and Conditions
- Grants up to $30,000
- Disclaimer: The amount you have requested may not equal the amount you are approved for.
- 0% interest rate
- No application fee
- Closing fee of $500.00
- Grants do not have to be paid back to HEDCO, Inc. unless funds are used to cover ineligible expenses. The business must show documentation of expenditures in accordance with your cash flow projections.
Application and Approval Process
Submit the following documents: Make sure that you have the documents ready to upload before starting the application.
- Application Apply Online
- Latest tax return for 1 year (business and personal) or Profit and Loss for the prior year
- Year-to-date Profit and Loss Statement
- Status Letter from Department of Revenue Services How to get a Status Letter
- Status Letter from Department of Labor Request Letter of Good Standing
- Cash flow projections for 12 months Download Cash Flow Projections Sheet
- Source and Use of Funds Form Download Source and Use Form
- Statement about how these grant funds will be utilized to help grow your business.
- SAMA Intake Form
SAMA & HEDCO cannot support Apple formatted files from Pages or Numbers. If your documents are in Pages format, go to https://support.apple.com/en-us/HT202227 for instructions to convert them to either PDF or Word format. If your documents are in Numbers format, go to https://support.apple.com/en-us/HT205391 for instructions to convert them to Excel or PDF format