Areas Served: All Connecticut
The Community Economic Development Fund offers a Grow Your Business Loan for Connecticut small businesses.
Grow Your Business Loans are available in amounts from $50,000 – $250,000. This product is designed specifically for existing businesses (three or more years) that have an opportunity for growth.
In order to act as quickly as possible, the application process is simplified.
Depending upon your business’s circumstances, the loan proceeds can be made available as a: – Term Loan or – Line of Credit If your application is approved, because CEDF is not a bank we can offer you: – Payments tied to your cash flow – No pre-payment penalties – Repayment terms of up to 10 years – A Business Development Advisor who will be assigned to offer you help and ideas about how best to operate your business How do you apply? Your business must have been operating at least three (3) years.
If your business is located in one of the eligible communities or your household income is less than $85,700, there are only a few simple steps to take: – Complete an application form – Provide your last 3 years tax returns – Provide a one-page marketing/management statement – Write a brief Community Impact statement this explains to us how your business is going to make a positive impact in your community, such as provide new jobs, rehabilitate a blighted storefront, etc.
– This is the only loan product that does not require a full business plan What can you use the loan to do? These funds are only available to expand existing (at least 3 years) businesses.
If your application is approved, we will work with you to provide your business with: – Working Capital – Funds to buy equipment and machinery – Funds for Inventory – Owner occupied real estate – Other appropriate purposes
Contact InformationCommunity Economic Development Fund
Address: 965 E Main St
City: Meriden
State: Connecticut
Website:
http://www.cedf.com/grow-your-business-loan/
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