Updates on COVID-19 ›

Connecticut Recovery Bridge Loan Program Info

3/26/2020

Connecticut Recovery Bridge Loan Program for Small Businesses and Non-Profits

The Department of Economic & Community Development (DECD) is offering short-term loans to businesses negatively impacted by COVID19:

Terms & Conditions

  • Loan maximum of $75,000 or three months operating expenses
  • 0% interest rate
  • 12-month term (with 6-month extension available up on request)
  • Freely pre-payable
  • Working capital loan
  • Personal Connecticut guarantee and credit score required

Eligibility To be considered, businesses/non-profits must:

  • Have no more than 100 employees
  • Be in good standing with the Department of Revenue Services (DRS) & DECD
  • Have been profitable prior to March 10, 2020— with no adverse personal credit reports 60 days past due the past six months

 

How to Apply

  • Complete an application
  • Provide the following information:
    • Project Financing Plan & Budget
    • 2019 Income Statement or Profit & Loss Statement
    • Internal Financial Statements (YTD)
    • Three-month projected cash flow, demonstrating need
    • Summary of adverse economic impact resulting from COVID19
    • Recent credit score report
    • Applicant structure documents
    • Personal financial statement
    • Ownership breakdown
    • Submit DRS letter of good standing
  • Submit online via email to decdctrecovery@ct.gov

 

More Information

(860) 500-2333 or via email at decdctrecovery@ct.gov. Email preferred due to high volume on phone lines.


3/23/2020
Orange Restaurants - Updated
« previous
3/30/2020
CARES Act Information
next »