The CCRLF was established to encourage and stimulate small and mid-sized industries and businesses in their creation and growth. This program will serve businesses in the Central CT Region which includes tows of Berlin, Bristol, Burlington, New Britain, Plainville, Plymouth and Southington.
Type of Loan: Term and Line of Credit
Amount: Up to $150,000
Interest Rate: Fixed up to 7%
Loan Maturity: Up to 5 years
Pre-Requirements to obtain a loan through this program:
The business is officially registered as such and operates legally.
The business is physically located and operates in CT.
The business owner has invested their own time or money into the business.
Must be a For-Profit type of business.
Principals with 50% or more ownership must not be more than 60 days delinquent on child support.