Areas Served: Waterbury, Connecticut
The City of Waterbury, through the Waterbury Development Corporation, has developed The Waterbury Micro-Loan Fund in partnership with Citizens Bank to create and/or retain jobs in Waterbury, Connecticut.
ELIGIBLE APPLICANTS: Applicants are encouraged to submit a business plan that clearly defines the operations of the business.
In order to be considered, the business must be based in Waterbury.
The applicant and its principals must also receive a favorable tax clearance from the City’s Tax Collector.
ELIGIBLE PROJECTS: Eligible projects will focus on creating and/or retaining jobs in the City of Waterbury.
Types of businesses include, but are not limited to, commercial and industrial establishments.
Convenience and liquor stores will not be considered.
All projects are subject to approval by the WDC.
USE OF FUNDS: Funds may be used for property acquisition, property improvements, equipment and fixture purchases, working capital, architectural and other design services, and other purposes as determined by the WDC.
FUNDING AMOUNTS: Loans are available from a $15,000 minimum to a $35,000 maximum.
Larger funding may also be considered as determined by the WDC.
FUNDING TERMS: Generally, loan maturity will not exceed 5 years.
RATES: Interest rates will be based on the merit of each loan request, and will be negotiated between the WDC and the borrower
Contact InformationWaterbury Development Corporation
Address: 24 Leavenworth St
City: Waterbury
State: Connecticut
Website:
http://www.wdconline.org/content/98/119/410/default.aspx
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