Business Resources

CT DECD Business Recovery Emergency Hotline & Email

Phone: 860-500-2333 Email: COVID19.JIC@CT.GOV

SBA Disaster Assistance

"SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay."

Connecticut Recovery Bridge Loan Program

"Update: The state announced a pause in the acceptance of new applications effective 6 pm on Friday 3/27. Complete the brief application, wait for instructions in an email acknowledgement. You'll have seven days to upload the required documentation."

Small Business Administration Economic Injury Disaster Assistance

"The SBA has changed the URL for the EIDL (Economic Injury Disaster Loan). https://covid19relief.sba.gov. This federal program provides direct loans. To learn about eligibility and procedures, watch this recent webinar."

Federal Stimulus Legislation (CARES)

While the two-trillion dollar federal legislation has provision for more small business lending and other kinds of relief, the SBA has 15 days from March 27 to work out the regulations and procedures. These have not been released yet. Detail on the legislation is described in a summary by the Senate Committee on Small Business and Entrepreneurship.

Fast Company – How to Survive the Crisis

The founder of Aira gives his perspective on the three things startups can do to survive the crisis.

CBIA Fact Sheet on Revised Rules for Unemployment Compensation

As part of the CARES Act, the federal government has issued new rules for COVID-19 specific unemployment compensation. This document summarizes those new rules.

National Federation of Independent Businesses (NFIB)

Updates about new and revised business rules in the state of Connecticut (and all other states) due to the coronavirus crisis.

AdvanceCT Small Business Resource Page

AdvanceCT, formerly CERC, has launched a page listing relevant webinars and conference calls coming up to educate and inform Connecticut small businesses about pandemic assistance. The page also includes a regularly updated listing of state and federal programs and resources with contact links.

CTNext's Current COVID-19 Funding Opportunities for Companies Conducting Relevant R&D

A list of currently available funding sources for companies and organizations conducting research and development efforts, or commercial product/service development, that could have a positive impact on the nation’s response to the COVID-19 crisis, is available on CTNext’s News pages. This list, compiled by SBA/CT and the University of Connecticut, will be updated periodically.

Small Business Owner’s Guide to the CARES Act

A concise summary of the U.S. stimulus program, including SBA loan programs and small business counseling, contracting, and tax provisions.

Small Business Development Corporation/Connecticut (SBDC/CT) – Emergency Resource Guide

A comprehensive guide to the Federal Government’s financial assistance programs, including the CARES Act, the SBA’s Economic Injury Disaster Loan (EIDL), and the Paycheck Protection Program (PPP).

Connecticut Department of Economic and Community Development (DECD) Business Recovery Page

Links to all State of Connecticut resources and assistance.

SCORE

SCORE is committed to helping businesses like yours through the unprecedented challenges from the coronavirus outbreak.

Department of Revenue Services

Taxpayers are strongly encouraged to visit the DRS website for answers to many questions. You may also email DRS at drs@po.state.ct.us. If contacting DRS by phone, please plan for wait times that may be longer than usual. See DRS FAQ's, which now include important information regarding Connecticut sales tax

Department of Economic and Community Development (DECD)

We know many Connecticut businesses are struggling as they deal with the effects of COVID-19. We appreciate their perseverance and know they share our commitment to keeping our residents healthy. The state, working with its federal partners, has several programs and initiatives in place to assist businesses during this difficult period. For specific questions related to small business, email the Joint Information Center at COVID19.JIC@ct.gov, or call the DECD small business hotline at 860-500-2333.

SBDC Resource Center

We are here to assist you during these unprecedented and difficult times. This page is being continuously updated with COVID19 information relevant to small businesses, including resources, videos, and links to additional material from various government agencies. Please reach out for no-cost assistance.

IRS Employee Retention Credit

The Treasury Department and the Internal Revenue Service announced the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted.

Paycheck Protection Program

The program is a potentially forgivable loan designed to help small businesses keep their workforce employed. Here are links with an information sheet and the PPP application provided by the Treasury Department. At this writing these loans will be accepted by SBA 7(a) lenders, which are primarily banks. Please note that the information sheet is imprecise in regard to this definition.