Bank of America pledges $100K for CT women’s business grants


STAMFORD — With funding from the Women’s Business enterprise Progress Council, the downtown Lorca Espresso Bar procured a convection oven that driven a leap in product sales past year.

Officials at the Stamford-headquartered WBDC are aiming to assist lots of other smaller organizations get over the disruption of the COVID-19 pandemic, and a new infusion from a single of the country’s largest companies will bolster that mission.

Lender of The usa announced Monday a $100,000 contribution for counseling, complex aid and other providers to support upcoming rounds of the WBDC’s Fairness Match Grant Application. Launched in 2020, the initiative has provided $924,000, throughout 98 grants, to women of all ages-owned corporations in Connecticut.

“We’ve all come collectively,” Roberta Abundant, Lender of America’s consumer lender current market chief in reduce Fairfield County, stated at a press conference at Lorca, at 125 Bedford St. “Whether it’s a small-business enterprise owner or a not-for-revenue business, we’re operating jointly to far better the communities that we serve.”

Bank of America’s contribution highlights the company aid for Equity Match. Amongst other main corporations that have provided funding, JPMorgan Chase introduced a $300,000 commitment in January.

Any females-owned modest businesses in the point out can utilize for the Fairness Match grants, which just about every full up to $10,000. The money are allocated to “clearly defined jobs that will have a measurable effects on the enterprise, its advancement and profitability,” according to WBDC’s web-site. The grants are not able to be used towards working fees, payroll or actual estate improvements. Candidates are necessary to supply a bare minimum 25 per cent match.

Inside the upcoming pair of weeks, WBDC officials approach to announce the recipients of the fourth round of Fairness Match grants. Purposes for the subsequent spherical of grants are predicted to open by the end of May possibly.

“This (Financial institution of The united states) grant is going to assist us with the subsequent number of rounds of operational support that we have to have to help individuals with that application method,” WBDC founder and Main Govt Officer Fran Pastore mentioned. “It’s definitely essential that we do that piece of this to make certain that these grants are equitable. Some individuals need additional assistance than others.”

Numerous point out officers are enthusiastic supporters of the WBDC, as highlighted by the attendance Monday of Lt. Gov. Susan Bysiewicz, Stamford Mayor Caroline Simmons and condition Sen. Patricia Billie Miller, D-Stamford.


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