Torrington Grant Program for Small Business in Connecticut

The Women’s Business Development Council (WBDC) is offering the Torrington Grant Program, a grant designed to foster the growth of businesses located in Torrington, Connecticut. This initiative aligns with the WBDC's mission to support and empower businesses, particularly by providing crucial financial assistance that can contribute to economic development within the targeted city. The program specifically excludes the use of funds for operating expenses, real estate improvements, reimbursement for past purchases, or debt repayment, emphasizing a focus on growth-oriented investments rather than day-to-day operational costs. The primary beneficiaries of this grant are for-profit businesses situated in Torrington, Connecticut, that meet specific criteria. These businesses must have been in operation for at least two years with a record of sales, demonstrate annual sales/revenue between $25,000 and $2,000,000 in the last twelve months, be registered in Connecticut, and hold a zoning permit from the City of Torrington. Additionally, they must be in good standing with the CT Department of Revenue Services, possess an established business checking account, and utilize a formal digital bookkeeping/financial system. The owner must also be at least 18 years old. The impact goal is to stimulate economic vitality and stability within Torrington by supporting established local businesses. The program prioritizes businesses that are poised for growth and are operating within a structured financial framework. There is a clear focus on financial transparency and stability, as evidenced by the requirement for digital bookkeeping systems and good standing with the Department of Revenue Services. Certain types of businesses are explicitly ineligible, including childcare businesses (though WBDC offers other programs for them), businesses that have previously received a WBDC grant, current WBDC vendors or contractors, and a range of businesses such as medical marijuana, liquor stores, adult businesses, vape/tobacco shops, gambling-related businesses, gun stores, cash advance/pawn shops, and collection agencies. This selectivity ensures that the grants are directed towards businesses that align with the WBDC's strategic vision for community development and ethical business practices. Grants will range from $2,500 to $10,000. The expected outcomes include a measurable increase in the capacity and reach of the recipient businesses, contributing to job creation and sustained economic activity within Torrington. By providing financial resources to qualifying businesses, the WBDC aims to strengthen the local business ecosystem and encourage long-term prosperity. This grant program is a direct manifestation of the WBDC's strategic priority to support local economies through targeted financial aid, operating under the theory of change that direct investment in compliant, established businesses will lead to enhanced economic stability and growth.