Minorities, including Black, Latinos, and Asians, as well as women owned small business in Connecticut can get financial help. Find loans from a variety of lenders near you, free grants from the state or federal government (and charities) and other funds in Connecticut. Find free MWBE grant or loans in CT help near, including from charities, banks, corporations, and the government.
Small businesses in Connecticut as well as startups can get assistance, both financial and free consultations. Each and every program is allocated some of the funds to disadvantaged businesses, including minorities, LGBTQ, the disabled, veterans, and female owned businesses. They can get either grants or loans to use to pay for inventory, rent, marketing costs, and other business operating costs. In almost all cases the loans and grants come with ongoing support.
Much of the assistance is for the major cities in Connecticut, including Hartford, New Haven, Stamford, and the Fairfield County area. However financial aid, including grants, can be offered to small to mid-sized businesses across the state with priority on MWBE, veteran, and people of color (BIPOC).
Women or minority businesses loans and free grants in Connecticut
The list of resources below is updated daily with the latest resources. Latino, Asian, Black, minority and women owned businesses can find the help they need in Connecticut. Financial resources, capital raising programs and support is available across the state.
August and September 2024
Businesses (or non-profits) impacted by flooding can get micro-grants from the Connecticut Department of Economic and Community Development. The funds are for organizations with less than 100 employees and microgrants can help minority and veteran owned businesses recover from the flood. The money is for the counties of Fairfield, Litchfield and New Haven. Get details here. https://ctwbdc.org/flood-recovery/
April and May 2024
Hamden CT small businesses can apply for free grants up to $12,500. The money is part of American Rescue Act funds, with minorities, women, and veterans also allocated some of the grant money for their small business. Apply here. https://www.hamdenedc.com/arpa/small-business-grants/
February 2024
Women’s Business Development Council (WBDC) is providing free grant money up to $25,000 as part of the Child Care Business Opportunity Fund. The goal will help day care – child care providers expand and keep their business running. WBDC also offers other resources including start up funds and more. Apply here. https://ctwbdc.org/child-care-business-grants/
Women-owned businesses can get free $10,000 grants from the Ignite Program. The money is for existing businesses that have been operating for at least 12 months and meet minimum revenue numbers. The Women’s Business Development Council in CT is processing applications too. All applications are in Spanish as well if needed. Apply here. https://ctwbdc.org/ignite/
July 2023 and August 2023
Community Foundation for Greater New Haven (CFGNH), in partnership with the New Haven Equitable Entrepreneurial Ecosystem (NHE3), is provided hundreds of grants of up to $6,000 each. Women owned businesses and those owned by people of color, including immigrants, are a focus. The funds are focused on small and micro-businesses in the New Haven County CT region. Apply here. https://www.e3connector.com/
Women’s Business Development Council has grants (up to 10K) for women owned businesses in Waterbury or Torrington CT. The money is for existing businesses that need additional funds to really accelerate, so this is a pro-growth initiative. Learn about WBDC grant programs here. https://ctwbdc.org/
April and May 2023
Middlesex County Revitalization Commission’s (MCRC) Business Operating Grant Program is for small businesses. Up to $25,000 will be provided to qualified companies, with women, disabled owned, minorities and others also eligible. The money will pay for bills such as technology, leasehold improvements, equipment and more. Apply here. https://mxcrc.org/business-operating-grants/
February and March 2023
The CT Boost Fund is available statewide, with a focus on helping small businesses. Millions of dollars are available, including money for minority, women and businesses owned by veterans or LGTBQ+ companies. Up to $500,000 can be provided (either as a 0% loan or free grant) to qualified businesses, including non-profits. The Boost program gives other support too, including technical training, networking help, inventory management, and more. Find details here. https://portal.ct.gov/DECD/Content/Business-Development/05_Funding_Opportunities/Connecticut-Small-Business-Boost-Fund
Meriden CT businesses, that have a physical location/storefront or that will be opening a location in the city can get grant money from The Meriden Business Investment and Growth program. The money, which is the result of American Rescue Plan Acts, needs to be used to repair, improve, or enhance the property. A major focus is on supporting Women and Minority owned companies. Learn more here. https://www.medco.biz/arpa/
The City of Norwalk has dozens of grants for micro-businesses up to very small ones. The $5,000 to $15,000 grants are for businesses that have anywhere from 2 to 20 employees. Some funds will be allocated to minority and women owned businesses using a lottery system. The free government grants are using stimulus funds from the COVID relief package, and learn more here. https://www.norwalkct.org/CivicAlerts.aspx?AID=2342
January 2023
Women’s Business Development Council is providing free business grants ranging from $2,500 to $10,000. Applicants need to be at least 50% women owned and be operating for at least 2 years. The non-profit WBDC has other criteria in place as well for women businesses in CT. In addition, the applicant needs to also have some form of crowdfunding or matching grant too. Apply here. https://ctwbdc.org/equity-match-grant-program/
November and December 2022
New London CT small businesses can apply for grants ranging from $2500 to $10,000. The city as well as the Women’s Business Development Council in New London are processing applications to the program. The funds are for any qualified small businesses, not just women owned. This means veterans, BIPOC, and other companies can apply. Read more on the program here. https://ctwbdc.org/new-london-wbdc-small-business-grant-program/
October 2022
Child care businesses in CT can get grant money from the WBDC Child Care Business Support Program and Opportunity Fund. The funds are a partnership between the CT Office of Early Childhood (OEC) as well as the Women’s Business Development Council (WBDC). There is also other support given, including entrepreneurial education to women (or anyone) who is looking to start a daycare program. All applications are due in October. Read more on the child care grants and apply here. https://ctwbdc.org/child-care-business-grants/
September 2022
Woman, minority and veteran owned-businesses in New Haven can apply for a free ~3 month business accelerator program that is run by Quinnipiac University in partnership with Connecticut Community Outreach Revitalization Program. The college is helping disadvantaged businesses with any support they need. There will be help with creating a business plan; information on raising money from loans, grants, or debt; online e-commerce assistance; marketing or advertising services and more. To apply or learn more, email QUEntrepreneurshipAcademy@qu.edu.
Connecticut Small Business Boost Fund provides loans and other support to small businesses in low-income parts of the state and underserved regions. Many of the loans will in effect go to minority or women owned companies. The financial assistance is a private/public partnership between the state, M&T Bank, Citizens Bank and others. Find how to get loans here. https://ctsmallbusinessboostfund.org/
July and August 2022
West Hartford Small Businesses, as well as non-profits, can apply for free $10,000 grants from the town. The funds are intended to help for profit or non-profits recover from the COVID pandemic. Get financial assistance for payroll, rent, inventory, online website operations and more. Some of the grant money from the Small Business and Non-Profit Recovery Grant program will be allocated to businesses owned by people of color (BIPOC), veteran, women, and LGTBQ+ business owners. In addition, the town offers free business coaching as part of Economic Development. Learn more here. https://www.westhartfordct.gov/town-departments/economic-development/~board/economic-development/post/recovery-grant-program-offers-assistance-to-eligible-small-businesses-and-non-profit-organizations-1656648741311
June and July 2022
The town of Mansfield is providing free grants ranging from $2500 to $10,000. The financial assistance is part of the Local Business Relief Fund Program, and there will be priority for women and minority owned businesses. The program is being run in partnership of the town as well as the non-profit Mansfield Downtown Partnership. Grants are for smaller sized businesses with less than 25 employees. The free grants can help pay rent, utility bills, salaries, operational costs and more. More details here. https://www.mansfieldmdp.org/
February and March 2022
Somers County Connecticut is providing free grants (up to $10,000) to small, minority owned businesses. The county is using American Rescue Funds to help businesses that have been impacted by COVID. Small for-profit businesses (as well as non-profit organizations) with under 25 employees can apply. Learn more. https://www.somersct.gov/grant-application/
January and February 2022
WBDC is offering up to $10,000 grants to women owned businesses in Connecticut. Applicants need to also fund raise a portion of the grant too – as much as 25%. This helps ensure the applicant is committed to the endeavor. The assistance program is known as an “Equity Match Grant Program“. Money is targeted at projects that will help a company grow, increase revenue, and certain projects. Applicants must be women owned and have been operating at least 2 years (among other criteria). Learn more. https://ctwbdc.org/equity-match-grant-program/
November and December 2021
The Windsor ARPA Grant Program will provide free $10,000 using money from the federal government American Rescue Plan. The funds will go to help small businesses recover from COVID. A priority is on MWBE as well as veteran owned businesses that operate service industries, such as food service places, retail stores, or resturants. Apply here and learn more information. https://townofwindsorct.com/economic-development/
August 2021
Hartford businesses can apply for free grants from the Small Business Emergency Assistance Grant Program. In total, just under $1 million dollars will be provided, with the majority of the funds to LGBTQ, minority, and women owned companies. The financial aid is offered from the Hartford Foundation for Public Giving, Capital for Change, and local corporations. There is also counseling, coaching, and other free advice given. The program is known as Capital for Change. Read more. https://www.capitalforchange.org/
November and December 2020
All across the state, the Department of Economic and Community Development is distributing up to $50 million dollars to small businesses from the Connecticut CARES Small Business Grant Program. The funds are for companies impacted by COVID, with free government grants also being reserved for women, black, Latino, and veteran owned businesses. The funds can pay for e-commerce operations, websites, and other material needs. The applying business needs to have had their revenue drop by at least 20% due to COVID. The grants can also help home based businesses, sole-proprietors, and others. Apply here. https://portal.ct.gov/DECD/Content/Coronavirus-Business-Recovery/CT-CARES-Small-Business-Grant-Program
By Jon McNamara
