Housatonic Valley News

(Danbury, Connecticut) – Today, Mayor Dean Esposito and the Office of Economic Development  announced the creation of the Danbury Small Business Assistance Program,  which will provide limited, one-time direct financial assistance to  eligible small businesses recovering from the pandemic.

“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 from October 5th to 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 between October 5th and 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.

Original source can be found here.