Program funded by the Hartford Foundation for Public Giving
Provides short-term working capital to certified 501(c)(3) organizations that are in good standing and located in cities and towns served by the Foundation in the Greater Hartford region.
Type of Loan: Term and Line of Credit
Amount: Up to $75,000
Interest Rate: Fixed 4%
Loan Maturity: One year with option to renew two additional 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 must be a 501(c)(3) certified organization in good standing.
The business must be current with both, State and Federal tax returns.
The business must have an operating budget of no more than $8,000,000.
The business must have been in operation for at least three (3) years and have demonstrated track
record of providing beneficial service to the community.
Business must be located in any of the following towns:
Andover, Avon, Bloomfield, Bolton, Canton, East Granby, East Hartford, East Windsor, Ellington, Enfield, Farmington, Glastonbury, Granby, Hartford, Hebron, Manchester, Malborough, Newington, Rocky Hill, Simsbury, Sommers, South Windsor, Suffield, Tolland, Vernon, West Hartford, Wethersfield, Windsor and Windsor Locks.
Applicant must generally be ineligible for obtaining credit at a reasonable rate in the amount required.