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
- Frequently Asked Questions regarding the application process
- Connecticut Recovery Bridge Loan Program Page
- Contact: For additional information or questions, contact the Express Hotline at
(860) 500-2333 or via email at decdctrecovery@ct.gov. Email preferred due to high volume on phone lines.
