In this episode of This Week in the City, Mayor Dean Esposito speaks with Shay Nagarsheth, Economic Development Director about the Small Business Assistance Program that was launched on October 5th, and applications close on October 31st.
This program which will provide limited, one-time direct financial assistance to eligible small businesses recovering from the pandemic.
For more information and to apply please visit: www.danbury-ct.gov/sbap
“Small businesses are the back bone of our city, and by utilizing funds from the American Rescue Plan, we will infuse over $380,000 into the business community recovering from the global pandemic. The impact of the pandemic is still being felt by many businesses, and the goal of this program is to lift some of that financial burden, to allow businesses to continue operating and thriving in our community,” said Mayor Dean Esposito.
Grants of up to $5,000 will be available depending on the needs of the business, and the intended use of the funds. The application process will be open until October 31st, and funds will be ready for distribution in November.
“The Danbury Small Business Assistance Program will provide direct financial assistance to small businesses throughout our city, helping them to recover from the global pandemic. As Economic Development Director, I have heard from the business community that this is a main priority in the pandemic relief effort. Today, the Esposito administration has delivered, and we look forward to providing our small business community with the help it needs,” said Shay Nagarsheth.
Small business owners who need assistance, are encouraged to apply for a grant. Criteria for applications include:
Qualifying for-profit businesses must be in Danbury, have 10 or fewer employees, less than $1,500,000 gross revenue in 2019, and be independently owned and operated.
Applicants should demonstrate that such funds will be used exclusively for future expenditures that will add value, quality, desirability, and/or attractiveness to (the) business and community.
Applications and instructions will be available online on the City's website and will be accepted until October 31st.
A committee including the Director of Economic Development, Finance, Tax Assessor, and representatives from the Mayor’s Office will review applications, and recommendations will be forwarded to the Mayor for final approval.