The Women’s Business Development Council and city of New London are partnering to give small businesses in the area a financial and educational boost.
WBDC officially opened the doors to a new office space on Bank Street downtown in New London in October.
“With increased visibility and accessibility, we can also be more engaged with this wonderful community.”
WBDC’s Fran Pastore
In addition to the office space, the organization partnered with the city to offer a small business grant program specific to New London-based businesses.
“With increased visibility and accessibility, not only can we bring even more support to the entrepreneurs and businesses across eastern Connecticut, but we can also be more engaged with this wonderful community,” WBDC founder and CEO Fran Pastore said.
“We are also thrilled to partner with the City of New London to offer grants that will help New London’s small businesses grow and continue to contribute to the vitality of the community.”
Application Process
Small businesses can apply to the program to receive grants between $2,500 and $10,000.
Unlike some WBDC grants, businesses do not have to be women-owned to apply for this specific round of funding.
Businesses do have to be for-profit and owned by a Connecticut resident, have been in business for at least two years, and have a record of annual sales in the last twelve months between $25,000 and $2,000,000.
Businesses have to be for-profit and owned by a Connecticut resident to be eligible for a grant.
Businesses also have to be in good standing with the Connecticut Department of Revenue Services, have an established business banking relationship, and utilize a formal, digital bookkeeping/financial system.
“The grant program with the City of New London and the Women’s Business Development Council will provide funding to city businesses that will demonstrate a measurable impact to our local economy,” New London Mayor Michael Passero said.
Applications will be accepted and reviewed on a rolling basis through WBDC.
