Small business, nonprofit help available
New Milford Mayor Pete Bass’ office has announced the State of Connecticut’s latest program to assist small businesses and nonprofits through the economic downturn caused by COVID-19.
Eligible small businesses and nonprofits can receive a one-time $5,000 grant by December 30, 2020.
Applications are estimated to be available the week of Nov. 9.
There will be minimal eligibility requirements the online application will have an open and close date.
The application process and the funding will be administered and disbursed by SoFi.
Small businesses and nonprofits that are eligible include those that: have 20 or less full-time employees or has an annual payroll of less than $1.5 million as of Dec. 31, 2019; have 20 percent or more loss in revenue to date as of Sept. 30, 2020 compared to the same period in 2019; were established by Oct. 1, 2019 and are still active; are in good tax standing with DRS or current on a payment plan as of Dec. 31, 2019; are home-based businesses and sole proprietors; and have already received federal PPP, EIDL and/or CT Bridge loans.
Entities not eligible include medical marijuana; liquor stores and alcohol distributors; adult businesses such as strip clubs; vape retailers; tobacco shops and smoking lounges; businesses having to do with gambling; gun stores and ranges; cash advance, check cashing, or pawn shops; bail bonds; collection agencies or services; and auction or bankruptcy or fire or "lost-our-lease" or "going-out-of-business" or similar sale.
Also, arts/cultural organizations that have already applied for CARES grants are not eligible.