WBDC Launches New Women-Owned Business Grants

The Women’s Business Development Council is opening a new application period for its Equity Match Grant Program Aug. 14.

The grants are available for women-owned small businesses in Connecticut with clearly defined projects that will have a measurable impact on the business, its growth, and profitability. 

The funding ranges between $2,500 and $10,000 and applicants must provide a minimum 25% match of the grant. 

A business does not need to provide the match if it is in a distressed economic community as defined by the Connecticut Department of Economic and Community Development. 

Grant money cannot be used for operational expenses, real estate improvements and construction costs, or debt repayment.

In some cases, past recipients have used the grant money to purchase new equipment and technology, revamp marketing campaigns, and hire consultants.

Eligibility Requirements

To be eligible for one of the grants, businesses must be at least 51% woman-owned. 

Also, they must be headquartered and registered in Connecticut as well as owned by a state resident.

Businesses must also:

• Be established for at least two years before Aug. 14, 2023 
• Have a record of annual sales/revenue in last 12 months greater than $25,000 and less than $2 million
• Be in good standing with the Connecticut 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

Applications for the grants will be open from Aug. 14-Sept. 27 and will be available in both English and Spanish.

The WBDC is also holding a series of informational sessions in August and September for companies to learn more about the grants. 

• Aug. 7, 12-1 pm (Spanish)
• Aug. 14, 12-1 pm (English)
• Aug. 23, 11 am-12 pm (English)
• Aug. 28, 5:30-6:30 pm (English)
• Aug. 30, 5:30-6:30 pm (Spanish)
• Aug. 31, 12-1 pm (English)
• Sept. 6, 5:30-6:30 pm (English)
• Sept. 12, 10-11 am (English)
• Sept. 13, 11 am–12 pm (Spanish)
• Sept. 14, 12-1 pm (English)
• Sept. 19, 12-1 pm (English)

This is the seventh round of the Equity Match Grant Program.

Since it started, the WBDC has distributed more than $1.5 million to women-owned businesses in Connecticut through 167 grants.