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 February 28, 2023 (business must have been established by February 28, 2021) 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 checking account
– Currently utilize a formal, digital bookkeeping/financial system (e.g. QuickBooks, Sage, FreshBooks, Wave Accounting)
– Be a for profit business
– 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.

Non-profit organizations are 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. This does not necessarily mean that the applicant needs to contribute funds to receive a grant.

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

– Businesses located in distressed economic municipalities (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.

Click here to download the projected profit and loss template (English & Spanish)

This template is provided as a guide by the Women’s Business Development Council (WBDC). Applicants are welcome to use this template or their own format if they prefer.

Access on-demand lessons about how to create projections based on your business type. 

eLearning: Pricing, Profitability, Projections for a Product Business 

eLearning: Pricing, Profitability, Projections for Service Business 

For additional assistance please email info@ctwbdc.org to request an appointment with a finance advisor. 

Please request your letter from the CT DRS myconneCT online center: 𝗺𝘆𝗰𝗼𝗻𝗻𝗲𝗖𝗧 (ct.gov)  

Here is a tutorial to on how to request the status letter: Requesting a Status Letter (of Good Standing) (ct.gov) 

Click here to see an example of what your status letter should like. Please note that if it does not look like this – it is the wrong document.