Program funded by the Department of Economic and Community Development (DECD)
Statewide funding. The MBRLF provides opportunities for minority-owned and/or women-owned entrepreneurs/business owners around the state of Connecticut to gain access to capital in order to start or grow their business.
Type of Loan: Term and Line of Credit
Amount: From $10,000 to $100,000
Interest Rate: Fixed 4%
Loan Maturity: Up to 10 years
Pre-Requirements to obtain a loan through this program:
The business has been in operation for at least one year and/or is officially registered for at least a year.
The business is physically located and operates in CT.
Must be a For-Profit type of business.
Principal(s) and Business must be current with both, State and Federal Taxes.
Principals with 50% or more ownership must not be more than 60 days delinquent on child support.