Connecticut CARES Act Comes Through with Much Needed Relief for Small Businesses

Connecticut CARES Act Comes Through with Much Needed Relief for Small Businesses
Connecticut CARES Act

Small business owners and non-profit organizations have been clamoring for government aid for months now, and the Connecticut CARES Act is finally here to offer some relief to companies hit hard by the coronavirus pandemic and resulting restrictions.

Small businesses and non-profits simply don’t have the kind of resources and funding to survive events like the COVID-19 pandemic. They don’t have reserves of money to bail themselves out in times like this. For many of these businesses, the only option is to close their doors.

The Governor of Connecticut promised that he was working hard to secure additional state and federal money to help small businesses and non-profits. And, for some businesses, that relief may have just arrived in the form of the Connecticut CARES Act. Under the Connecticut CARES Small Business Grant Program, companies with less than 20 employees may apply for a one-time grant of $5,000. This money does not have to be paid back.

The problem with this program is that it only helps those companies with less than 20 employees. It also protects organizations that have annual revenue of less than $1.5 million. That leaves an awful lot of other small and medium-sized businesses out in the cold.

According to the grant program, candidates are allowed to start applying for the grant this week. Specifically, they will start accepting applications on Monday, November 9, 2020. 

If approved., the approved businesses and non-profits will be able to use the grant money for equipment, payroll, rent, utilities, inventory, and any other business-related expense. As one can imagine, $5,000 doesn’t really stretch that far, especially in today’s COVID climate where prices have skyrocketed, and services are twice as expensive as they used to be.

If you are in need of assistance and have been denied a grant under the CARES act, contact an expert Connecticut business lawyer right away.


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