WBDC Exceeds $10M in Grant Funding

The Women’s Business Development Council is celebrating a major milestone. 

Since 2020, the organization has given more than $10 million in grant funding to small businesses in Connecticut. 

Many of WBDC’s grants and programs are geared toward women-owned businesses and entrepreneurs. 

WBDC founder and CEO Fran Pastore said that the organization are proud of reaching the $10 million milestone, but added that it’s the impact of the grants that’s most important. 

“These funds have been instrumental in helping businesses across the state launch, grow, and thrive,” Pastore said. 

“This funding is having a real, measurable impact on our Main Street businesses and on our state’s economy.”

Supporting Women-Owned Businesses

WBDC announced the milestone at the end of a three-day statewide roadshow visiting Ignite grant recipients. 

The program offers grants of $2,500 to $10,000 to qualified women-owned businesses that have been operating for at least 2 years.

Since its launch, the program has supported 328 women-owned businesses in Connecticut, totaling $3 million.

“These grants have enabled so many businesses to not just survive the pandemic, but to thrive.”

WBDC’s Fran Pastore

“We set out to create a grant program for Connecticut women-owned businesses in 2020, when so many of them were not able to access COVID relief funding,” said Pastore. 

“These grants have enabled so many businesses to not just survive the pandemic, but to thrive in its aftermath.”

Lt. Gov. Susan Bysewicz and representatives from JP Morgan Chase joined WBDC officials on the roadshow. [pictured above]

Unlocking Potential

JPMC has contributed $600,000 to the Ignite program since 2020, along with a grant to support WBDC’s business development program for women and minority entrepreneurs in the Hartford region.

JPMC employees have also served as mentors to small businesses.

“Small businesses are the backbone of the economy and their success lends itself to stronger communities by creating new jobs, driving local economic growth and offering residents more options and opportunities,” said J.P. Morgan Connecticut Private Bank head and Connecticut market leadership team co-chair Ryan McGrath.

“The Women’s Business Development Council unlocks the potential of women-led businesses.”

J.P. Morgan Private Bank’s Ryan McGrath

“The Women’s Business Development Council unlocks the potential of women-led businesses across Connecticut and provides them with increased access to the resources and support needed to grow their ventures while building wealth for themselves, their families and the state.” 

WBDC also offers grants through several other programs. 

The Launch Pad program offers grants of up to $2,500 to qualified start-up businesses.

The Child Care Business Opportunity Fund provides grants of up to $25,000 available to qualified licensed and aspiring child care businesses through a partnership with the Connecticut Office of Early Childhood. 

WBDC also partners with New London, Waterbury, and Torrington to offer grants specifically for businesses in those communities.