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    Friday, May 03, 2024

    Norwich small business assistance grant program opens Monday

    Norwich — The city’s small business assistance program, funded through a federal Community Development Block Grant, will be launched Monday to help city businesses hurt financially by the coronavirus pandemic.

    The city has allocated $219,562 in CDBG COVID-19 relief funds to provide short-term working capital to small businesses to help with rent or mortgage payments, utility bills, inventory payments or monthly debt. Grants will range from $1,000 to $10,000, with applications rated on a priority point system to “make a fair and equitable determination for all qualified applicants based on demonstrated need,” the community development office said in a news release announcing the launch of the program.

    Any small business in Norwich affected by COVID-19 may qualify. Priority will be given to applicants demonstrating the greatest revenue loss, employee layoffs and the number of low- to moderate-income individuals affected by the business loss. Sole proprietor businesses may apply as long as the owners live in low- to moderate-income households.

    Financial documents, including proof of lease or mortgage, utility bills, profit and loss statements for the past two years, balance sheets for the past 90 days, payroll information and other documents will be required.

    Applications will be available starting Monday on the city website, www.norwichct.org, or can be picked up by appointment at the community development office, 23 Union St., Norwich. Call (860) 823-3770 for information and to make an appointment.

    Applications must be submitted no later than 4 p.m. March 5. Electronic applications are preferred but applications also may be dropped off at the community development office by appointment.

    c.bessette@theday.com

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