CTCIC Micro-Loan

CTCIC Micro-Loan The SBA Micro-loan Program provides fixed rate loans up to $50,000 to for-profit businesses.

What's the value to me?

If you are looking for a loan (maximum $50,000) to fund a startup or existing company for machinery or other specific costs

Description & Overview

The SBA Micro-loan Program provides fixed rate loans up to $50,000 to for-profit businesses. These loans are for start-ups or existing businesses and can be combined with other financing sources to create a $150,000 financing package.

Eligible uses include:

  • Equipment
  • Inventory
  • Leasehold improvements
  • Marketing programs
  • Other specific business costs

Services

  • Loan can be for startup or existing business (start-ups are typically limited to $50,000)
  • Ongoing business consulting services available free of charge to borrowers
  • Fixed rate interest

Criteria

  • Business must demonstrate ability to repay debt
  • The minimum collateral is lien on business assets
  • Personal guarantee from all owners of 20% or more of the business
  • Cannot be used to refinance debt

Contact

2315 Whitney Avenue
Hamden, CT 06518

Carolyn Welch
W: CTCIC

Categories:

Debt
Capital / Funding

Phases:

Business Model Discovery / Validation
Launch
Scale

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