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Tag: Covid-19 economic relief
â€œOur grants and programs will still have a very important part to play in the small business ecosystem in 2022 â€“ and beyond,â€ says Connecticut SBA District Director Catherine Marx.
â€œIâ€™m telling restaurateurs that their job is still survival,â€ Connecticut Restaurant Association President and CEO Scott Dolch says. â€œThe next six months are going to be critical."
â€œThese strategic investments in agriculture are in great need for farmers to continue operating and providing safe, affordable, and healthy foods to residents,â€ said the executive director of the Connecticut Farm Bureau Association. Â
One recent survey found that 44% of small business owners have less than three monthsâ€™ cash reserves â€“ 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 â€“ 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.
â€œThis 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 â€“ and more is on the way.
â€œIâ€™m an optimistic guy, or I wouldnâ€™t work in the arts,â€ 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.
â€œA lot depends on how quickly people go back to their old behaviors,â€ the Danbury bank's president and CEO says.
The agency says that over 50,000Â additional PPP loans have been approved, totaling $3.1 billionÂ for Connecticut businessesÂ and entitiesÂ 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 â€œrepresent an incredible opportunity for this state to make transformative investments to emerge healthier and stronger."