Areas Served: Bridgeport, Connecticut
CommCap small business loans include funding working capital needs, the purchase of machinery and equipment and/or new construction or rehabilitation of commercial real estate for existing small businesses, community-based organizations and eligible start-up businesses.
The minimum loan amount is $50,000 and the maximum loan amount is $500,000. In order to be considered for financing all applicants must meet our criteria and provide the required documentation.
Business must meet the following criteria: – Job creation the financing must create jobs in the greater Bridgeport area – Tax generation the financing must produce tax revenue for the City or State – Neighborhood stabilization the financing must employ residents and/or fill vacant properties of the target area or bring needed services to the neighborhood – Interaction with local business the business financed should buy/sell goods/ services to/from local businesses or residences – Not bankable at a reasonable rate – Collateral offered consistent with risk – Net personal cash flow sufficient to cover financing costs Required Documentation – Completed Application with non-refundable fee – Personal Financial Statements of all Borrowers/Guarantors – Signed Federal Income Tax Returns (2years) – Corporate Financial Statements (2 years) – Corporate Tax Returns (2years) – Business Plan (start-up or less than one year old) – Projections – One year cash flow
Contact InformationCommunity Capital Fund
Address: 240 Fairfield Ave, 3rd floor
City: Bridgeport
State: Connecticut
Website:
http://www.commcap.org/small_business/criteria.html
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