November 2020 Newest Business Resources

November Latest Business Resources

There continues to be valuable resources available for businesses that need assistance during this challenging time. Below please find information for manufacturers, new loans for small businesses and for restaurateurs A Winter Dining Resource Guide, brought to you by Streetsense.

For Restaurants:

A Winter Dining Resource Guide

For Manufacturers

The Connecticut Center for Advanced Technologies (CCAT), through funding from the CT Dept of Economic Development and the Governor’s Workforce is administering the REV-Up! Connecticut Back to Work program grant. The focus is to re-engage laid off manufacturing workers to return to manufacturing, with employer wage subsidies and free customized upskilling to enable employee growth and positive impact on the business. For manufacturing employers with less than 500 employees this is a great program but act now, the deadline is December 27, 2020.

 Some of the top highlights of the program are: 

• Wage subsidies up to $20 per hour for new employees that were laid off or returned employees, with starts from 9/1 – 12/27 ONLY!
• Free Upskilling and Training online, hands on and on the job with mentor support – customized for your business and for each employee
• Easy application, minimal tracking and minimal reporting of hours worked
• Additional support if needed – including childcare subsidies and laptop resources
• Manufacturing and production roles, management and administrative roles are all included – prior employment in manufacturing company required

 Any qualified new or returning hires who began after 9/1 could qualify – retroactive wage subsidy included!

Attached please find an overview of the program, and the link to access program information online, and to complete an employer application is:  https://180skills.ccat.us/rev-up/

New Loan Opportunity for Small Businesses

Community Investment Corporation is pleased to announce the availability of a new loan program targeted for small businesses. CIC received a nearly $3.5 million grant to provide loans to assist in the recovery of Connecticut businesses in Fairfield, New Haven, Litchfield, and Hartford counties. These funds, from the Economic Development Administration (EDA) at the U.S. Department of Commerce, allow CIC to offer loans for small businesses in need of assistance due to factors related to the economic impact of COVID19.

Funds are eligible for qualified existing and start up businesses including business purchases. Funds can be used for a wide range of purposes including, but not limited to, buying real estate, inventory, equipment, leasehold improvements, marketing or working capital. The spirit of the program is to get your business on track, so, whether you are looking to reopen, satisfy changing Covid 19 associated safety regulations, or pivot offerings in order to meet consumer demand in the changing economy, with loans up to $500,000 and terms from 7 years (working capital) to 25 years (real estate), this program is designed to help.

If you own a small business (or if you know someone who owns a small business) that has been impacted by Covid 19, and are looking for funding to get back on track, please contact us to discuss your plan and associated financing needs. To get started: http://ciclending.com/get-started/