There is new help for women-owned businesses in the state dealing with the impact of the pandemic.
The Women’s Business Development Council is providing $ 400,000 in grants to help women-owned businesses who may have suffered from the pandemic.
WBDC raised part of the funds for the Equity Match Grant program. The state then intervened to match the funds. The partnership generated $ 400,000 in grants for women-owned businesses.
“This pandemic has had an impact on women outside the workforce, on business owners and therefore again, anything we can do to provide these interventions to maintain momentum and not lose momentum. field, we’re going to focus on, âGlendowlyn Thames, deputy commissioner of the Department of Economic and Community Development, said.
At least 56 local businesses are expected to benefit from the grant program from 32 different cities across the state.
The program began after many women-owned businesses faced economic challenges from the COVID-19 pandemic.
âThe purpose of the Equity Match grant is to put capital in the hands of women-owned businesses with an emphasis on equitable distribution,â said Fran Pastore, CEO of the Women’s Business Development Council.
Alisa Bowens-Mercado is the founder of Rhythm Brewing Company and one of the companies selected to receive the grant.
âIt’s a powerful statement and it helps a company like me,â Bowens-Mercado said. “We can expand our office, employees, marketing, potential equipment for future brewing schedules.”
Business owners not only receive a check, but they must also explain how the funds will be allocated once they receive the grant money.
For companies like the Rhythm Brewing Company, these requirements actually help to have short and long term goals.
âWe will use these funds strategically for every part and part of our business to allow it to grow and, more importantly, to stay in the game,â Bowens-Mercado said.
Lt. Gov. Susan Bysiewicz and Fran Pastore will visit all companies that will receive the grant.