DECD: Financing

Small Business Financial Assistance
Growing businesses need capital, and no state realizes and responds to that need better than Connecticut. Whether the financing requirement is an equity investment, capital purchase or working capital, there is a multitude of financing programs available to support businesses large and small.
State programs include direct funding from the Department of Economic and Community Development (DECD and Connecticut Innovations (CI). In addition, there is a network of local and regional revolving loan funds across the state to assist businesses with financing needs.
DECD Direct Assistance
DECD offers the following direct financial assistance to small businesses: 
  • Economic and Manufacturing Assistance Act (MAA) - provides low-interest loans and incentive-driven direct loans for projects when there is a strong economic development potential.  Funding may be used for purchase of equipment, furniture and fixtures, construction, leasehold improvements, training and other eligible project-related activities. 
  • Small Business Express Program - provides loans and grants to Connecticut's small business to spur job creation and growth.
CCAT provides grants to start-up companies that are housed in Connecticut incubator facilities through the Small Business Incubator Grant Program.
Connecticut Innovations (CI)
is a quasi-public corporation providing equity, debt and bond financing and other forms of financial assistance to companies in all stages of the business life cycle, from startup to later stage. CI offers its portfolio companies strategic guidance and collaborations with partners in business, finance, education, government and nonprofit sectors. CI’s initiatives are designed to grow the state’s economic and technology base, and to stimulate business investments and job creation.
Crossroads Venture Group (CVG)
CVG provides guidance for high growth enterprises through the promotion of capital formation. 
U.S. Small Business Administration (SBA)
The SBA provides loans and loan guarantees through lending institutions.
The USDA provides financial assistance and business planning.
Statewide and Regional Lending Partners
Community Economic Development Fund (CEDF) – Statewide
CEDF provides loans and technical assistance to small businesses. 
Connecticut Community Investment Corporation (CTCIC) – Statewide
CTCIC is a non-profit economic development lender that provides Connecticut's small business owners with access to capital that may not be available elsewhere. CTCIC also provides financing opportunities for expanding businesses looking to purchase real estate and/or machinery and equipment. 
BDC Capital  – Statewide
BDC Capital is a private company in which many financial institutions in New England have pooled their money to share the risks of helping promising companies expand. BDC Capital provides financial assistance with loans, mezzanine and equity investments, guarantees and financial services to businesses of every type and description.
Regional Loan Programs
Hartford Economic Development Corporation (HEDCO) and
Greater Hartford Business Development Center (GHBDC)

HEDCO and GHBDC work in tandem to stimulate economic development in the Hartford Metropolitan Area. Their partnership is aimed at achieving broad-based economic growth and providing small businesses throughout the region with alternative financing. 
Waterbury Development Corporation (WDC)
WDC’s Business Growth Group is focused on serving Waterbury’s business clientele at all stages of the business cycle. They can provide one-on-one business support as well financial assistance.
SouthEastern Connecticut Enterprise Region (seCTer)
SECTER is a public-private regional economic development agency serving the towns of New London County. They administer several loan programs and can also assist with marketing and business development.
Northeast Connecticut Economic Alliance
The Northeast CT Economic Alliance provides loans and business development resources to both existing and startup manufacturing and service companies in northeastern Connecticut.
Community Capital Fund
The Community Capital Fund promotes economic development and reinvestment in the Greater Bridgeport area by facilitating the flow of capital and expertise into economic development projects that benefit low- and moderate-income people.
Middlesex County Revitalization Commission
The Revitalization Commission is focused on the revitalization of manufacturing and commercial districts of Middlesex County. Their Revolving Loan Fund is designed to encourage business growth that results in the retention or creation of jobs in the region.

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