If you are a woman and/or minority business owner looking for a business loan you may be interested in this program.
CEDF offers a special loan guarantee in conjunction with the Department of Economic and Community Development (DECD) to help women and minority owned businesses obtain flexible financing. This program is for start up businesses as well as existing businesses looking to expand. CEDF provides the loan and the Department of Economic and Community Development provides up to a 30% guarantee. This guarantee is particularly helpful to start up businesses that need a greater degree of flexibility in obtaining a loan.
Connecticut Businesses Must Meet One Of The Following Requirements To Be Eligible To Apply
- Location Eligible: the business is not bankable* and is located in one of the 53 eligible communities listed below and regardless of household income level, or...
- Income Eligible: the business is not bankable*, is not located in an eligible community, but meets the total annual household income level of $89,701 or less.
- *Definition of not bankable: The business is unable to obtain a loan from a traditional bank.