Home Tags Covid-19 economic relief
Tag: Covid-19 economic relief
“Our grants and programs will still have a very important part to play in the small business ecosystem in 2022 – and beyond,” says Connecticut SBA District Director Catherine Marx.
“I’m telling restaurateurs that their job is still survival,” Connecticut Restaurant Association President and CEO Scott Dolch says. “The next six months are going to be critical."
“These strategic investments in agriculture are in great need for farmers to continue operating and providing safe, affordable, and healthy foods to residents,” said the executive director of the Connecticut Farm Bureau Association.
One recent survey found that 44% of small business owners have less than three months’ cash reserves – a particularly worrisome situation should another Covid-related shutdown or other emergency arise.
With federal and state unemployment bonuses now expired, there could be a returning tsunami of people looking for regular employment – and unsure of how to find it.
Approximately $10 million has been allocated for the program, which will provide bonus payments for up to 10,000 eligible applicants.
“This historic level of funding allows us, as one educational community, to be bold and innovative as we forge our path to a transformative and equitable recovery," said state DOE Commissioner Charlene Russell-Tucker.
To date, the Connecticut department of the Small Business Administration has approved over $27.7 billion in loans to businesses in the state to get through Covid-19 – and more is on the way.
“I’m an optimistic guy, or I wouldn’t work in the arts,” says Westport Country Playhouse Managing Director Michael Barker.
Competitive grant awards will range from $1 million to $5 million for a two-year performance period.
“A lot depends on how quickly people go back to their old behaviors,” the Danbury bank's president and CEO says.
The agency says that over 50,000 additional PPP loans have been approved, totaling $3.1 billion for Connecticut businesses and entities in 2021.
Roughly 32% of the recipients are minorities.
The #CTDrinksOnUs campaign features participating Connecticut restaurants offering a complimentary drink to vaccinated patrons who order food.
Lamont said that the federal funds “represent an incredible opportunity for this state to make transformative investments to emerge healthier and stronger."