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The program will provide businesses and nonprofits in Connecticut that have fewer than 20 employees, or a 2019 payroll of less than $1.5 million, with a one-time grant of $5,000.
Thirteen of Connecticut’s largest business groups have sent a letter to Gov. Ned Lamont and the state’s legislative leaders seeking the creation of a new, $70 million small business grant program.
The timing of the Nov. 3 election “isn’t helping things,” says Connecticut Restaurant Association Executive Director Scott Dolch. “Neither side wants to give the other side a win, unfortunately.”
“We’ll see how it plays out,” says Connecticut Restaurant Association Executive Director Scott Dolch.
The president of one Stamford company said she’d been sparring with Chase – her bank of choice for over 25 years – over her firm’s PPP loan practically since the program was announced. “They’re probably the poster child for incompetency," she said.
The Department of Economic and Community Development announced that, having received over 4,000 applications, it will stop accepting them as of 6 p.m. today -- but that it will return with double the funding, at $50 million. But that action will be temporary, according to DECD Commissioner David Lehman.
“We enthusiastically support Bob the Rebuilder as the small-business pick for governor,” said Tim Goodrich, NFIB’s executive director of state government relations.
Small business lending activity across the U.S. hit its lowest level in 14 months in September, according to a Nov. 1 report issued by Thomson Reuters and PayNet Inc.