Applications Open for WBDC Ignite Grants
Applications are open for the Women’s Business Development Council’s Ignite Grant Program.
The program is designed to help women-owned businesses in Connecticut with grants of up to $10,000.
The Ignite Grants were formerly known as Equity Match Grant.
The WBDC says it changed the name of the program to “better reflect its objective to ignite growth in Connecticut women-owned businesses and the state’s economy.”
The organization has awarded 276 grants distributing over $2.5 million to women-owned businesses across the state since launching the program.
Ignite grants between $2,500 and $10,000 will be awarded for projects that are clearly defined and have a measurable impact on the business, its growth, and profitability.
Past recipients have used the grant money to purchase new equipment, upgrade technology, revamp marketing campaigns, and hire consultants.
Businesses cannot use the grants for operating expenses, real estate improvements and construction costs, or debt repayment.
Businesses that apply are required to have invested at least $2,500 into their business in the last 12 months, unless they live in a distressed municipality.
To be eligible for the grants, businesses must also:
- Be 51% or more woman-owned
- Be headquartered in CT, registered in the state of CT and owned by a CT resident
- Have been in business for at least two years before March 14th, 2024
- Have a record of annual sales/revenue in last twelve months greater than $25,000 and less than $2,000,000
- Be in good standing with the CT Department of Revenue Services
- Have an established business checking account
- Currently utilize a formal, digital bookkeeping/financial system
- Be a for profit business
- Be owned by a woman at least 18 years old
Businesses can submit applications for the Ignite Grants between Feb. 1 to March 14, 2024.
WBDC will hold one-hour informational webinars, in both English and Spanish, in February and March for businesses to learn more about the grants and the application process.
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