HEDCO-SAMA
Minority Business Covid Support Program
HEDCO is no longer taking applications. Thank you for your interest.
This program will be allocated to minority-owned and women-owned small businesses. The program will be administered and underwritten by HEDCO, Inc.


HEDCO, Inc. and SAMA have partnered with Governor Lamont, State of Connecticut, the CT Department of Economic & Community Development (DECD) and the CT Minority Business Initiative to provide financial relief to minority-owned and women-owned small businesses negatively impacted by the coronavirus pandemic.
Under the COVID-19 Business Response Program, a qualifying small business with 20 or fewer employees may apply for a zero- interest Line of Credit for up to $12,500.

Eligibility
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To be considered for this program, your small business must:
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Be a for-profit business with no more than 20 full-time and/or part-time employees
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Be a minority-owned and/or woman-owned small business (minimum 51% of minority/woman ownership required)
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Be in good standing with the Department of Revenue Services (DRS)
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Have been conducting business for a minimum of one year
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Terms & Conditions
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Line of Credit up to $12,500
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0% interest rate
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One-year Line of Credit, payable in full 12 months from the date of closing
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Working capital Line of Credit
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No application fee
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Closing fee of $250.00, which can be included in the cash flow projections
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The debt is eligible to be forgiven if the company can demonstrate that the funds were used to cover expenditures due to COVID-19. In order to receive forgiveness, the business must show documentation of expenditures in accordance with your cash flow projections

Application and Approval Process
Submit the following documents:
- Page Application
- Latest tax return for 1 year (business and personal) or Profit and Loss for prior year
- Year-to-date Profit and Loss Statement
- Status Letter from Department of Revenue Services
- Cash flow projections for 12 months
- Source and Use of Funds Form
- Statement about how your business was impacted by the COVID-19 pandemic.
Submit all documentation to underwriting via the form below.
If your loan application is approved, HEDCO will:
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Issue a Commitment Letter outlining terms and conditions
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Prepare closing documents for Client’s signature
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Issue a check with the funds
Note: All due diligence will be completed by HEDCO.
Form Downloads
Please download, complete and submit with application.
Program Application
Source & Use of Funds Form
Cash Flow Projection Sheet
Contact Information and Additional Support
For additional information or questions about the program:
Contact:
Danielle Sporbert – (860) 527-1301 x244