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Bridgeport announces $1 million in financial assistance for business impacted by COVID-19

Those local businesses interested in applying have until January 15 at 2 PM for grant funding up to $25,000
Credit: AP
FILE - This April 3, 2019, file photo shows a tip box filled with U.S. currency in New York. In these uncertain times, financial advisers are urging clients to not only have an emergency fund but also to consider expanding their rainy-day savings. For example, if you’ve had three months’ worth of savings, consider increasing it to six; if you’ve had a six-month cushion, increase it to nine. (AP Photo/Mark Lennihan, File)

BRIDGEPORT, Conn. — On Wednesday, Bridgeport Mayor Joe Ganim announced available grants for small and minority-owned businesses impacted by the COVID-19 pandemic. 

The city of Bridgeport had partnered with the United States Department of Housing and Urban Development (HUD), the City’s Small and Minority Business Enterprise Office (SMBE), the Office of Planning and Economic Development (OPED), and the Bridgeport Regional Business Council (BRBC), for the grant program. 

Mayor Ganim stated, “Please keep in mind that these are grants of up to $25,000 -- they do not need to be paid back. Eligibility is broad-based, and we encourage all qualifying Bridgeport businesses to take advantage of this excellent opportunity.”  

Through the CARES ACT, HUD has permitted financial assistance to Bridgeport and the city, in turn, has allocated $1 million to help struggling businesses. 

Eligible uses of the grant awards include: 

  • Short-term working capital and operating expenses
  • Inventory, payment to essential vendors
  • Advertising or marketing expenses related to publicizing changes in business hours or offerings
  • Staff/employee training in new operating procedures
  • Newly acquired technology hardware related to adapting to the pandemic

Those local businesses interested in applying have until January 15 at 2 PM. For more information or to apply, click here

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