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Microloan Guarantee Program (CEDF/DECD)

Microloan

A loan program that helps business development and employment growth for women- and minority-owned businesses.

Is this resource a good fit for you?

If you are a woman- or minority-owned business looking for up to a 30 percent guarantee of principal on loans under $50,000.

Description

The mission of CEDF is to strengthen neighborhood economies by providing flexible financial and technical support to small businesses, community organizations and initiatives in targeted communities and to low- and moderate-income individuals throughout Connecticut.

Services

  • The program offers a 30 percent guarantee of principal on loans $50,000 and under.
  • Technical assistance to fine-tune a business plan is available.

Criteria

  • Must be woman- or minority-owned where 51 percent is owned by a woman or a minority who is actively engaged in the daily affairs of the business and has the power to direct the management and policies of the business.
  • Applicants are required to have a business plan.
  • Business must be located in Hartford, Stamford or West Haven.
  • Can be used in industrial, commercial, agricultural, retail and service businesses.

Contact Info

Contact: Scott Arnold

Street: 965 East Main St

City: Meriden

State: CT

Zip: 06450

Phone: 203-235-2333 x 2020

Email: info@cedf.com

Website: Community Economic Development Fund

 

 

 

 

 

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