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Congress Expands Funding to COVID-19 Relief Programs

Posted on: April 24, 2020 - 12:57pm
relief for small businesses

Please see the following message from Connecticut Commissioner of Economic and Community Development, David Lehman, regarding newly available resources for businesses during the COVID-19 pandemic:

The U.S. Congress has now passed a $480B spending bill that expands funding to critical COVID-19 relief programs. $370B has been set aside for small businesses.

I encourage you to act quickly to secure funding for your business as demand for these programs has been extraordinarily high.

  • $310B for Paycheck Protection Program (PPP); Forgivable loans to small businesses with less than 500 employees; apply through SBA-approved banks, credit unions or fintechs
     
  • $60B for Economic Injury Disaster Loans and Grants (EIDL); Low-interest loans and grants up to $10,000 for small businesses and non-profits; apply for these directly through the SBA

Program details, eligibility requirements and application information can be found on the SBA’s coronavirus relief options website. 

We will continue to provide updates on important state and federal programs as new information becomes available. 

Sincerely, 
David Lehman, Commissioner
david.lehman@ct.gov, (860) 500-2310