Source: United States House of Representatives – Congresswoman Rosa DeLauro (CT-03)
October 27, 2020
NEW HAVEN, CT — Congresswoman Rosa DeLauro (CT-03) and Congressman Jim Himes (CT-04) today joined Mark Cousineau, President of the Community Investment Corporation (CIC), CIC’s Business Advisor Joe McCaffrey, Executive Director of Bijou Theater Gary Peterson, and CEO of Divvies Mark Sandler to discuss the impact of the coronavirus pandemic on small businesses and announce a nearly $3.5 million grant to support the recovery of businesses in Fairfield, New Haven, Litchfield, and Hartford counties. This grant from the Economic Development Administration (EDA) at the U.S. Department of Commerce allows CIC to offer financial opportunities for small businesses in desperate need of assistance.
“Our small businesses and entrepreneurs are critical to the fabric of our economy and our community,” said Congresswoman DeLauro. “The coronavirus pandemic has already had a devastating impact on families, and businesses across the state remain closed or struggle to stay afloat as parts of Connecticut experience a rise in COVID-19 cases. The federal government must step in and do its part to help small businesses reopen safely and recover. That is why, I am honored to join my colleague, Congressman Jim Himes, and President Cousineau in highlighting this $3.5 million grant. I am proud to be their partner in the fight to bring federal dollars back home to Connecticut’s businesses.”
“The loss of life and security we have experienced during this pandemic has been tragic for Connecticut,” said Congressman Himes. “Exacerbating the problem, the economic slowdown brought about by the need for safety has seriously harmed our small businesses. This $3.5 million grant will help secure loans for small businesses that not only provide jobs, but serve as important hubs for community life. Ensuring we bring home the funding needed to help Connecticut families and businesses survive and keep them safe is our top priority and we’ll continue to fight for them throughout these challenging times.”
“The new EDA funding provides CIC with a $3 million capital base to help address the negative impact COVID-19 has on the small business community,” said Mark Cousineau, President of the Community Investment Corporation. “With the funding and the flexibility afforded by the EDA, we were able to develop a lending program with the versatility to address a variety of borrowing needs. We will pair that with free business counseling services to help business owners pivot to survive and eventually thrive.”
This federal funding is part of $1.5 billion for economic assistance programs Representatives DeLauro and Himes helped secure in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help communities prevent, prepare for, and respond to the coronavirus. As leaders in the House of Representatives, DeLauro and Himes are committed to fighting for additional relief to help Connecticut’s small businesses not only recover but also expand and thrive.
Video and audio of the conversation can be downloaded here.