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November 15, 2022

Hartford launches $1M small business grant program

City of Hartord Mayor Luke Bronin announces the Small Business Investment Grant program in front of Piolin Restaurant in Hartford.
By Michael Puffer

The city of Hartford has set aside $1 million of its federal pandemic-relief package for small business grants of up to $100,000.

Mayor Luke Bronin announced the Small Business Investment Grant program Tuesday at a podium in front of Piolin Restaurant, a 24-year-old business. The program aims to create and preserve jobs, spur new business, assist in revitalization and leverage private investment.

The announcement comes about 11 months after the city launched its “Hart Lift” program, using $6 million in federal funds to offer grants of up to $150,000 to help outfit space for new retail and restaurant businesses in storefronts throughout the city.

Calling Hart Lift a tremendous success, Bronin said the city wanted to also offer help to existing businesses and those not necessarily tied to a storefront.

“We wanted to make sure that businesses that have been here for a while are not left out of the possibility of getting some help as they work to grow and recover and create jobs in our community,” Bronin said. “We want to make sure that those businesses that might not be activating a retail space but are nonetheless creating new jobs and creating growth in our community have … the support and the partnership to do that.”

The Small Business Investment grants will require a match from the applicant. So, a grant recipient of $30,000 would be expected to invest $15,000 as well.

That match could come in cash, investment accounts, recent investments already made in the business, even demonstration of lost revenue attributable to the pandemic, or other “format-based on justification,” according to a summary on the city website.

Awards can be used on physical renovations or expansions of a business location, marketing, working capital expenses, professional services, other activities justified through a business plan or, subject to review, debt repayments.

City Council member James Sanchez, speaking at Tuesday’s announcement, called small businesses the “backbone” of the city. This program will help return businesses to the health they should have enjoyed absent the pandemic, Sanchez said

“I think this is a huge step forward to have a million dollars set forward so we can support these small businesses,” Sanchez said.

Sanchez said the city could invest $1 million more, depending on the success of the program.

Bronin noted the competitive grant process is open to new and existing businesses. According to the city website, criteria include project readiness, economic impact, growth potential, business viability and strategic significance.

This grant program is being run through the city Department of Development Services. More information and grant applications are available at www.hartfordct.gov/smallbiz. 

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