Equity Match Grant Program

To be eligible, the business must:

– Be 51% or more woman-owned
– Be headquartered in CT, registered in the state of CT and owned by a CT resident
– Have been in business for at least two years before July 3, 2022 (business must have been established by July 3, 2020) with a record of sales
– Have a record of annual sales/revenue in last twelve months greater than $25,000 and less than $2,000,000
– Be in good standing with the CT Department of Revenue Services (DRS)
– Have an established business bank account
– Currently utilize a formal, digital bookkeeping/financial system (e.g. QuickBooks, Sage, FreshBooks, Wave Accounting)
– Be a for profit business, or a non-profit that derives 75% or more of the organization’s revenue from a social enterprise
– Be owned by a woman at least 18 years old

The following businesses are not eligible

Childcare businesses are not eligible for the Equity Match Grant. If your business is in the childcare industry, WBDC has other programs for you. We encourage you to visit our Child Care Business Funding page to learn more or reach out to us at childcarebusiness@ctwbdc.org

Any individual or business who has already received an Equity Match Grant is not eligible.

Current vendors or contractors of WBDC are not eligible.
Former vendors are eligible to apply a year after working with WBDC.

Medical marijuana; liquor stores and alcohol distributors; adult businesses such as strip clubs; vape retailers; tobacco shops and smoking lounges; businesses having to do with gambling; gun stores and ranges; cash advance, check cashing, or pawn shops; bail bonds; collection agencies or services; and auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale

– Applicants are required to provide a minimum 25% match

For example, if the business receives a $10,000 grant for the purchase of new software, the business must have invested $2,500 in their business over the past 12 months OR be able to invest an incremental $2,500 of their own funds in that purchase

– Grants cannot be used to reimburse past purchases or investments in the business.
– Businesses in distressed economic communities (as defined by DECD) do not need to provide the 25% match.

There are four sections to the application:

Section A: How you would use the grant
Section B: Narrative of your business
Section C: Upload supporting documents
Section D: Compliance and consent

Click here to download the application questions

– Thoughtful, complete, and well-developed picture of your business that shows a path to growth.
– Exceptionally clear use of funds, with a direct link to growth, focused, strong supporting detail.
– Financial Projections are robust and reflects seasonality of business in projections where all numbers make sense.
– Display the business’ long-term potential, with strong growth and potential for continued growth
– Job creation potential, with the business being on track to adding more jobs
– Return on investment, that the funds will unlock growth
– Grant will have a meaningful impact on the business and help the business grow and scale

*Applications will be reviewed by an independent panel of experts from the community. WBDC Business Advisors will not be making the decisions on who receives grants.