Connecticut Small Business Support Grant

Program Description: Partnership between HEDCO Inc., the Spanish American Merchants Association (SAMA), the Governor's Office, State of Connecticut, and the Connecticut Department of Economic and Community Development (DECD). The program provides grants and connects small business applicants with an ecosystem of service providers including lawyers, accountants, HR professionals, insurance agencies, marketing firms, and other providers.

The program includes a business assessment process to identify and analyze areas of need. Experienced professionals guide participants through the process to identify strengths, weaknesses, growth opportunities, and strategies to overcome challenges.

Geographic Scope: Statewide Connecticut

Eligibility:

• For-profit business with no more than 25 full-time and/or part-time employees
• Registered business operating in Connecticut
• Current with Connecticut Department of Revenue Services (DRS) and Department of Labor
• Minimum 1 year in business
• Must complete program business assessment

Terms and Conditions:

• Grants up to $30,000 (approved amount may differ from requested amount)
• 0% interest rate
• No application fee
• $500.00 closing fee
• Grants do not need to be repaid unless funds used for ineligible expenses
• Business must provide documentation of expenses according to cash flow projections

Application Process and Required Documents

Step 1: Prepare Required Documents
Ensure all documents are ready to upload before beginning application.

Step 2: Submit Online Application
Apply online through HEDCO portal.

Required Documents:

1. Last 1 year of tax returns (business and personal) OR previous year profit and loss statement
2. Year-to-date profit and loss statement
3. Letter of status from Connecticut Department of Revenue Services
4. Letter of status from Connecticut Department of Labor
5. 12-month cash flow projections
6. Sources and Uses of Funds form
7. Statement describing how grant funds will be used

File Format Requirements:

• HEDCO does not accept Apple Pages or Numbers format files
• For Pages format: Convert to PDF or Word (see Apple support documentation)
• For Numbers format: Convert to Excel or PDF (see Apple support documentation)

Additional Information:

• For assistance obtaining CT Department of Revenue Services status letter: See separate guide on HEDCO website
• For assistance obtaining CT Department of Labor good standing letter: See separate guide on HEDCO website
• Contact HEDCO for additional program information and application assistance: (860) 527-1301 or applications@hedcoinc.com