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City of Bridgeport
Financial Assistance for Local Businesses Impacted by COVID-19
Pandemic
Bridgeport Small & Minority Business COVID Relief Grant Program
Overview
Through the provisions of the US Coronavirus Aid, Relief, and Economic Security
(CARES) Act, the US Department of Housing and Urban Development (HUD) has
granted financial assistance to the City of Bridgeport, to prevent, prepare and respond
to the coronavirus, COVID-19. This CARES financial assistance is intended to address
some of the community impacts of the COVID-19 Pandemic.
The City has allocated $1 Million for financing to small and minority-owned for-profit
businesses in Bridgeport which have suffered a harmful loss of business or revenue due
to the Pandemic. For the purposes of this Grant Program, Applicants should have had
less than $1 Million in gross revenue in calendar year 2019, and employed 20 or fewer
persons as of March 15, 2020.
The financing is anticipated to be awarded in grants of varying size, up to a maximum of
$25,000, dependent on the circumstances and plans of the Applicant’s business. For
consideration, businesses seeking financial assistance are required to complete the
Application form. Award criteria and determinations may vary by applicant response and
the eligibility of neighborhoods, based on HUD regulations and HUD’s National
Objectives, such as Low and Moderate Income Benefit (LMI).
Eligibility and Uses of Financing
The Bridgeport Small & Minority Business COVID Relief Grant Program is intended
to prioritize and primarily benefit Bridgeport’s small and minority-owned businesses that
have experienced significant business revenue losses during the Pandemic, and those
businesses in particular that are determined to have presented feasible plans for
adapting to the business conditions and government restrictions of the Pandemic.
Previous participation or receipt of funding from recent federal or state initiatives will not
disqualify applicants, but priority may be given to applicants that previously received no
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