Minority Business Enterprise Assistance Program (MBEAP)
Program funded by the Department of Economic and Community Development (DECD)
The MBEAP is designed to create minority-owned and/or women-owned Construction Firms to enable them to participate in publically funded projects at the highest levels on an equal plane with non-minority CM/GM firms.
Type of Loan: Term or Line of Credit
Amount: From $1,000 to $100,000
Interest Rate: Fixed 6%
Loan Maturity: Up to 5 years
Pre-Requirements to obtain a loan through this program:
Client must meet with BRC Representative (860)527-1100 and pass an analysis phase.
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.