News

The National Small Business Week 2-day virtual summit is happening Tuesday, May 2 – Wednesday, May 3, 2023.

Join us May 2 – May 3, 2023, for the National Small Business Week Virtual Summit hosted by the U.S. Small Business Administration and SCORE. Attend this free, virtual summit to learn new business strategies, meet other business owners and chat with industry experts!  This 2-day, action-packed event will include educational sessions, online business resources, and expert speakers.  About the event The National Small Business Week 2-day virtual summit is happening Tuesday, May 2 – Wednesday, May 3,

Join SBA POWERLUNCH with Comptroller Scanlon Tuesday, April 18th 12:00 PM – 1:00 PM

Join SBA POWERLUNCH with Comptroller ScanlonTuesday, April 18th 12:00 PM – 1:00 PMMyCTSavings is a new retirement savings program, overseen by the Connecticut Office of the State Comptroller. A way to help Connecticut employees save and plan for the future. More than 600,000 private-sector employees in Connecticut have no access to an employer-sponsored retirement savings plan.MyCTSavings was created by law to meet this urgent need. With MyCTSavings, employers can now offer their employees an easy way to

SBA Deadline Approaching for Working Capital Disaster Loans in Rhode Island for Secretary of Agriculture Declaration for 2022 Drought

The U.S. Small Business Administration (SBA) is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations that April 17 is the filing deadline for federal working capital loans in parts of Rhode Island and adjacent states for drought that began Aug. 9, 2022. Low-interest disaster loans are available in the counties of Bristol, Kent, Newport, Providence and Washington in Rhode Island; New London and Windham in Connecticut;

The FLMA's Military Leave Provisions: Caregiver Leave for Non-Servicemember Employees

Does your business have 50 or more employees? Is any employee the spouse, son, daughter, or parent of a covered servicemember either called for foreign deployment or experiencing a serious injury or illness? Join the U.S. Small Business Administration and the U.S. Department of Labor, Wage & Hour Division, for this information-packed webinar focusing on the federal Family and Medical Leave Act’s (FMLA) Military Family Leave provisions – specifically, the “qualifying exigency leave” and “military caregiver

SCORE Webinar: ''The ABCs of a Business Plan and Understanding a SWOT Analysis'' 3/9/23

SCORE Eastern CT to Host Free Webinar On "The ABCs of a Business Plan and Understanding a SWOT Analysis” Sponsored by: CorePlus Federal Credit Union DATE: Thursday, March 9, 2023 TIME: 10:30 AM to 12:00 PM ET LOCATION: Online webinar (Zoom) REGISTRATION IS REQUIRED: REGISTER NOW After registering, you will receive a confirmation with information on how to join the webinar. SCORE Eastern CT (https://www.score.org/easternct), Mentors to America’s Small Businesses, presents a free Small Business

SBA Connecticut Announces Veteran Business Expo November 2nd

The SBA Connecticut District Office along with an extensive partner network will celebrate the strength and resilience of our Veteran Business community with a Veteran Business Expo on Wednesday, November 2nd. Hosted at the Eastern CT Veterans Community Center, Willimantic, CT veterans will have access to small business resources and in-person workshops throughout the event – 9am-1:30pm. Workshops will be facilitated by subject matter experts covering Franchising, How to Get Veteran Certified, Business

Celebrating National Hispanic Heritage Month: SBA Hosts Armchair Discussion on Increasing Opportunities for Hispanic-Owned Small Businesses

WHAT:        SBA’s Elevating Small Business Series Webinar: Celebrating National Hispanic Heritage Month In celebration of National Hispanic Heritage Month, the U.S. Small Business Administration will host a live webinar panel discussion with Gabriel Esparza, Associate Administrator, SBA’s Office of International Trade; and small business owners Eduardo Ortiz of Coforma, LLC, in Washington, D.C. and Alejandro Ramirez of Universal Spartan, LLC, in Vine Grove, Kentucky.   The discussion will focus on

SBA Presents Access to Capital, Counseling & Credit Webinar - Wednesday, September 21 6-7pm

Access to Capital, Counseling & Credit Webinar - Wednesday, September 21 Get Your Free ZOOM Link Here  National Hispanic Heritage Month The U.S. Small Business Administration in conjunction with Ion Bank, Latin Financial, and SCORE Greater Hartford is hosting a virtual information session on resources available to Hispanic entrepreneurs in Connecticut.   Hispanic-owned businesses play an important role in the U.S. Economy as they are the fastest growing segment of the U.S. small business ecosystem.

SCORE Southeastern CT to Host Free Webinar On ''The ABCs of a Business Plan and Understanding a SWOT Analysis” Sponsored by Essex Savings Bank

SCORE Southeastern CT to Host Free Webinar On "The ABCs of a Business Plan and Understanding a SWOT Analysis” Sponsored by Essex Savings Bank   DATE: Tuesday, October 4, 2022 TIME: 10:00 to 11:30 AM ET LOCATION: Online webinar (Zoom) REGISTRATION IS REQUIRED: REGISTER NOW After registering, you will receive a confirmation with information on how to join the webinar. The Southeastern Connecticut chapter of SCORE, Mentors to America’s Small Businesses, presents a free Small Business Workshop on "The

SBA Connecticut District Office Seeks Nominations for National Small Business Week 2023

The Connecticut SBA District Office is proud to announce the opening of nominations for the 2023 the National and Connecticut Small Business Week awards, including the annual Small Business Person of the Year Award. The SBA Awards are given in celebration of National Small Business Week and include several categories. Connecticut winners for Small Business Person of the Year and Small Business Exporter of the year are eligible to compete for the National Awards. National nomination forms and guidelines

Small Business Resources Growing & Supporting Black Business in Connecticut Virtual Information Session

Small Business ResourcesGrowing & Supporting Black Business in ConnecticutVirtual Information Session Black Business Month is a time to celebrate Black-owned businesses and honor the rich heritage of Black entrepreneurship. It’s a call to continue to empower Black business owners in our Connecticut communities and advocate for economic inclusivity for all.  Tuesday, August 30th 6-7:30pm Free Registration Here

U.S. Small Business Administration: COVID EIDL Key Points for Borrowers

COVID-19 Economic Injury Disaster Loan (EIDL) deferment periods are approaching an end. As such, business owners must start preparing to make payments. The following are key points and resources for all COVID EIDL borrowers.COVID Economic Injury Disaster Loans are not forgivableSBA has begun to remind borrowers through email and callsSBA will not mail paper notices (Form 1201) but may send payment reminders via emailDeferment on payments is from the date on the original noteInterest began accruing at the

Biden-Harris Administration Awards Record-Breaking $154.2 Billion in Contracting to Small Businesses Highlights: One Million Small Business Jobs Created, Small Disadvantaged Business Goal Achieved

Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced that the Biden-Harris Administration exceeded its small business federal contracting goal, awarding 27.2 percent or $154.2 billion in federal contract dollars to small businesses, an $8 billion increase from the previous fiscal year.   The share of contracts going to small businesses equates to 27.2 percent of

Four Million Hard-Hit Businesses Approved for Nearly $390 Billion in COVID Economic Injury Disaster Loans

As the country continues to transition from a historic economic recovery to stable, steady growth that works for families and small businesses, Administrator Isabella Casillas Guzman, the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, highlighted the impact of the SBA’s COVID Economic Injury Disaster Loan (EIDL). Through the life of the program, the SBA disbursed approximately $390 billion to nearly four million small businesses and nonprofits. Taken together with the

Celebrating Pride Month: SBA Hosts Live Webinar Panel on Increasing Opportunities for LGBTQI+ Small Business Owners

In celebration of Pride, the U.S. Small Business Administration will host a live webinar panel with Larry Webb, District Director, SBA’s Washington Metropolitan Area District Office; Justin Nelson, Co-founder and President, National LGBT Chamber of Commerce; and small business owner Rachel Kalenberg of Pizza Carrello in Gillette, Wyoming.     The discussion will focus on financial wellness and the importance of equity and opportunity to help uplift and support LGBTQI+-owned small businesses across

SBA Administrator Guzman to Visit Las Vegas to meet with Local Leaders and Small Businesses

On May 23, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice for America’s 32.5 million small businesses in President Biden’s Cabinet, will visit Las Vegas. Administrator Guzman will participate in roundtable discussions with Rep. Horsford, Rep. Titus, local leaders, and local business owners to discuss increasing equity and access to opportunities to help uplift and support underserved and disadvantaged small businesses. In recognition of Asian

SBA Veterans Small Business Advisory Committees Set to Host Virtual Public Meetings June 1-2 New Chairperson selected to lead the Advisory Committee, focused on outlining progress made in support of

Today, the U.S. Small Business Administration's Interagency Task Force on Veterans Small Business Development (IATF) and Advisory Committee on Veterans Business Affairs (ACVBA) announced that the task force will hold its next set of virtual public meetings on June 1 and June 2, respectively, via Microsoft Teams. “The quarterly IATF and ACVBA committee meetings are vital for SBA to gain a greater understanding of the current state of veteran-owned small businesses and how best to serve them,” said Larry

SBA’s Elevating Small Business Series Webinar: Celebrating Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month

In celebration of AANHPI Heritage Month, the U.S. Small Business Administration will host a virtual armchair discussion with Jennifer Kim, Associate Administrator, Office of Field Operations; Michael Fong, Regional Administrator for SBA Region X; Chiling Tong, President and CEO, National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship; and Dr. Guofang Wang, Co-Owner of Everest Medical Group in Upper Darby, PA. The discussion will focus on the importance of financial wellness,

SBA Re-Opening PPP to Small Lenders on January 15 and All Lenders on January 19

 The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 a.m. EST. The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA. Earlier in the week, SBA granted dedicated PPP access to Community

SBA Extends Crucial Lifeline to Borrowers Impacted by COVID-19 with Debt Relief

As the U.S. Small Business Administration continues implementation of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, signed into law by President Trump on Dec. 27, 2020, SBA Administrator Jovita Carranza made the following statement in regards to Section 325: “Small business is big business in America, and this Administration will continue to extend a lifeline to small business owners during this critical time. Congress charged the SBA with making debt relief payments

Paycheck Protection Program (PPP) Policy Update

The U.S. Small Business Administration, in consultation with the Treasury Department, announced on January 8, that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated

SBA: Announcing Ascent Program for Women-owned Businesses

Please join U.S. Small Business Administration Administrator Jovita Carranza on Thursday, January 7 at 1PM for a live webinar to announce the launch of Ascent. Ascent is a first-of-its-kind digital online learning platform geared to help women-owned small businesses grow and scale their existing business.  With Ascent, female entrepreneurs will be able to utilize this platform that brings a modern, e-learning experience specifically targeted for women business owners. This virtual event will include

Connecticut's Lender Awards Highlights

The U. S. Small Business Administration (SBA) announced its Fiscal Year 2020 Eagle Awards recipients at its Virtual Annual Lenders Meeting today. SBA lending results in Connecticut for the federal government’s FY20, ending September 30, 2020 reported solid year-over-year trends. CT SBA lending supported over $207 million dollars in loans through its three premier loan programs: the 7a Loan Guaranty Program, the Certified Development Company/504 Loan Program and the Microloan Program.   Nationally, the SBA

Explore New International Trade Opportunities in 2021 with a STEP Grant

If your small business is looking to sell its goods and services to the global marketplace in 2021, be sure to check out the Connecticut State Trade Expansion Program (STEP). STEP grants are funded in part by the U.S. Small Business Administration (SBA) and help qualifying small businesses start or expand their international trade activities. In prior years, a significant portion of STEP grants were used to attend and participate in international trade shows like Hannover Messe and the Paris Air Show.

SBA Provides Historic Level of Lending to CT Small Businesses

COVID-19 Lending, 7(a), and 504 Loans Make FY20 Largest Loan Volume in Agency History The U.S. Small Business Administration provided historic levels of capital to small business in the past year. In response to the COVID-19 pandemic, the SBA supported over $750 billion of small business financing and economic relief. Nationally, the SBA’s regular lending programs guaranteed more than $28 billion to small businesses in FY20. In addition, it’s COVID-19 Paycheck Protection Program (PPP) and Economic Injury

SBA Veterans Small Business Advisory Committees to Host Virtual Public Meetings Dec. 2 and 3

 The U.S. Small Business Administration's Interagency Task Force on Veterans Small Business Development (IATF) and Advisory Committee on Veterans Business Affairs (ACVBA) will hold virtual public meetings on Dec. 2 and 3, respectively, via Microsoft Teams.  "These quarterly meetings serve as an important opportunity for federal agencies, veteran service organizations, and veteran-owned small businesses to address the challenges faced by the veteran small business community," said Larry Stubblefield,

SBA Seeks Nominations for its Advisory Committee On Veterans Business Affairs

The U.S. Small Business Administration seeks member nominations from veteran-owned small businesses and veterans service organizations to serve on the Advisory Committee on Veterans Business Affairs (ACVBA). Public Law 106-50, the Veterans Entrepreneurship and Small Business Development Act of 1999, established the ACVBA to serve as an independent source of advice and policy recommendations to the SBA Administrator, the Associate Administrator for SBA’s Office of Veterans Business Development, Congress,

SBA Economic Injury Disaster Loans Available for Agriculture in CT

The U.S. Small Business Administration announced today that Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham counties in Connecticut as a result of drought beginning on Sept. 15, 2020. “When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses

SBA: Simpler PPP Forgiveness for Loans of $50,000 or Less

The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars. “The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic

Military Spouse Entrepreneur Summit on August 19

The U.S. Small Business Administration (SBA) is dedicated to igniting change and sparking action so small businesses can confidently start, grow, expand, and recover. To support the military spouse small business community, the SBA in collaboration with the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes, is hosting a virtual SBA Military Spouse Entrepreneur Summit on Wednesday, August 19, 2020 via the Zoom webinar platform. Working closely with federal agencies, military and veteran service

EIDL Advance Program Ends After Disbursing $20 Billion

Today, the U.S. Small Business Administration announced the conclusion and success of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. In order to assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a maximum of $10,000. Recipients did not have to be approved for a loan to receive the Advance, and the Advance provided an interim

SBA Rolls Out Dedicated Tool for Small Businesses to Connect with CDFIs, Small Asset Lenders Participating in PPP

U.S. Small Business Administration Administrator Jovita Carranza announced the launch of a dedicated online tool for small businesses and non-profits to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Farm Credit System lenders, Microlenders, as well as traditional smaller asset size lenders in the Paycheck Protection Program (PPP).   SBA’s Lender Match is an additional resource for pandemic-affected

SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program

Today, the U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:Are self-employed and have no employees; ORDid not

SBA and Treasury Announce New and Revised Guidance Regarding the Paycheck Protection Program

The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP).  This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past felony convictions. To implement the PPPFA, SBA revised its first PPP interim final rule, which was posted on April 2, 2020.  As

COVID-19 Resources for African-American Entrepreneurs across New England on June 16

We Are Strong Together WebinarCOVID-19 RESOURCES FOR AFRICAN AMERICAN ENTREPRENEURS ACROSS NEW ENGLAND   Tuesday, June 16th, 2020 6:00PM EDT Join us for a groundbreaking discussion on how you can access capital and resources right now and thrive after the pandemic! The Deadline to Apply for PPP Funding is June 30th! Get your share of the $130 BILLION still available!! Hosted by U.S. Small Business Administration New England - featuring SBA Regional Administrators Wendell Davis, Region 1 and Ashley D.

SBA Release: Paycheck Protection Flexibility Act

On Friday June 5, 2020 the Paycheck Protection Program Flexibility Act was signed into law. This will allow businesses more time and flexibility to keep their employees on the payroll. SBA, in consultation with Treasury, will promptly issue rules and guidance, a modified borrower application form, and a modified loan forgiveness application implementing these legislative amendments to the PPP.  These modifications will implement the following important changes:Extend the covered period for loan forgiveness

SBA Awards $100,000 for Veteran Owned Small Business Growth Pilot Training Program

The U.S. Small Business Administration today announced a partnership with the Veteran Entrepreneurial Training and Resource Network (VETRN) to establish a pilot training program for military veterans who are small business owners and their immediate family members. The Veteran Owned Small Business Growth Training program will equip these entrepreneurs with the resources and networks necessary to grow their small businesses.  An award of $100,000 from President Donald Trump’s salary from the second

SBA and Treasury Department Announce $10 Billion for CDFIs to Participate in the Paycheck Protection

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs).  CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses.  These dedicated funds will further ensure that the PPP reaches all

SBA Announces Connecticut's 2020 Small Business Week Winners

Matthew Beaudoin, President & CEO of Mystic Knotworks in Mystic, CT has been named the U.S. Small Business Administration’s 2020 Connecticut Small Business Person of the Year, SBA’s top award, according to an announcement made by Mark S. Hayward, SBA’s Interim District Director. “We are extremely delighted to honor a truly amazing line up of small business owners and champions this year, said Mark S. Hayward, SBA’s Connecticut Interim District Director. It is important to recognize these outstanding

SBA Offers Streamlined Process for Economic Disaster Injury Loans

Last Friday, the President signed the historic economic recovery bill to inject capital to help small businesses affected by the Coronavirus (COVID-19). Two SBA emergency capital programs are available today and more will be coming soon:Low interest, long term Economic Injury Disaster Loans for up to $2 million: The first payment is deferred for 12 months. The application has been simplified and can be completed 100% online through our improved web portal at https://www.sba.gov/disaster.Economic Injury

SBA Offers Disaster Assistance to Connecticut

Small Businesses Economically Impacted by the Coronavirus (COVID-19) The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Connecticut small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced yesterday. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President,

SBA Updates Criteria on States for Requesting Disaster Assistance Loans for Small Businesses Impacted by Coronavirus

SBA Updates Criteria on States for Requesting Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19) As part of the Trump Administration’s aggressive, whole-of-government efforts to combat the Coronavirus outbreak (COVID-19) and minimize economic disruption to the nation’s 30 million small businesses, U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus

SBA To Provide Small Businesses Impacted by Coronavirus (COVID-19) Up to $2 Million in Disaster Assistance Loans

WASHINGTON – SBA Administrator Jovita Carranza issued the following statement today in response to the President’s address to the nation:“The President took bold, decisive action to make our 30 million small businesses more resilient to Coronavirus-related economic disruptions. Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest

2019 Veteran's Entrepreneurship Resource Day

SCORE Welcomes Frank LaMonaca as New Chair of Southeastern CT Chapter

Photo: Past Chairpersons Bob Potter (left) and Margo Weitekamp (center) welcome Frank LaMonaca (right) as the new Chairperson of the Southeastern CT Chapter of SCORE.Frank LaMonaca will become the new Chairperson of the Southeastern Connecticut chapter of SCORE, leading a team of more than 40 volunteers who provide free mentoring for people starting up or running small businesses throughout the Southeastern region of Connecticut.  “We are delighted to welcome Frank LaMonaca as the new Chairperson for

Chelsea Groton Bank Designated Small Business Administration 'Preferred Lender'

Groton, CT – Chelsea Groton Bank was recently named a Preferred Lender Program (PLP) by the Small Business Administration (SBA). This designation allows Chelsea Groton Bank to decide unilaterally on SBA participation in eligible loans. The PLP is part of SBA’s effort to streamline the procedures necessary to provide financial assistance to the small business community.   “The SBA is very pleased to recognize Chelsea Groton Bank as our newest PLP lender in Connecticut,” said Bob Nelson, Acting Connecticut

Webster Bank Wins Small Business Honors

Webster Bank has won four 2015 SBA Eagle Awards from the U.S. Small Business Administration. The bank was honored as Lender of the Year by Dollar Volume, Top Third Party Lender of the Year, Top Lender to Veterans, and Top Lender for Job Creation and Retention during a ceremony last month in New Haven. Webster was part of a significant increase in SBA lending in Connecticut for the fiscal year ending Sept. 30. SBA-backed loans rose 18 percent to $238 million, with lending to minorities, veterans, and women

SBA Disaster Assistance Available to Private Non-Profits in CT

SBA Disaster Assistance Available to Private Non-Profit Organizations in Connecticut  Atlanta, GA – The U.S. Small Business Administration announced today certain private non-profit organizations (PNPs) that do not provide critical services of a governmental nature may be eligible to apply for low interest rate disaster loans.  These loans are available following the Presidential disaster declaration for Public Assistance resulting from damages caused by a severe winter storm and snowstorm on Jan. 26 – 28,