CARES Act Funding Metrics

Categories: CTSBDC News   |  

When the COVID-19 pandemic hit, Connecticut Small Business Development Center Business Advisors found themselves serving more clients in a few months than they had in the entire previous fiscal year.

Through additional funding provided by the CARES Act, CTSBDC was able to support small businesses across the state more comprehensively. In the timeframe of March 9 – June 30, CTSBDC served 4,781 businesses who employ 209,772 people (Full and Part time). The clients we assisted secured $35.5 M in emergency funding, with another $16M in progress.

In order to meet the extraordinary needs of business owners at this time, CTSBDC increased its staff to respond effectively. We hired 5 new full time Business Advisors, 1 new Intake Specialist, a Public Health Expert, 2 Communications Specialists and 7 graduate students from the UConn School of Business.

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