Economic and Manufacturing Assistance Act Loans (DECD)

Economic and Manufacturing Assistance Act Loans (DECD) Manufacturing or economic-based business loans through the DECD were business must provide a minimum match of 50%.

What's the value to me?

Manufacturing or economic-based business loans were business must provide a minimum match of 50%.

Description & Overview

Loans from the DECD, with flexible terms and conditions through the Manufacturing Assistance Act.

Services

  • Manufacturing or economic-based business loans were business must provide a minimum match of 50%. Businesses located in the Targeted Investment Communities (communities that contain Enterprise Zones) must provide a minimum match of 10%

Criteria

  • Conventional lending sources must have been sought (Connecticut Development Authority, Connecticut Innovations and banks)
  • Economic benefit of the project must be demonstrated
  • Adequate collateral must be available to secure the loan

Eligible uses for loans:

  • Planning, including but not limited to: feasibility studies, engineering, appraisals, market studies and related activities
  • Acquisition of real property, machinery or equipment or any combination, provided such assistance does not exceed the fair market value
  • Construction of site and infrastructure improvements relating to a municipal or business development project
  • Construction/renovation/demolition of buildings
  • Relocation expenses for the purpose of assisting manufacturing or other economic-based businesses to locate, construct, renovate or acquire a facility
  • Working capital in conjunction with a business development project
  • Business support services such as labor training, day care, energy conservation, pollution control, recycling and the like, in conjunction with other state agencies

Contact

505 Hudson Street
Hartford, CT 06106

Tricia Paesani
P: 860-270-8215
W: Department of Economic and Community Development

Phases:

Scale
Plateau
Business Model Discovery / Validation
Launch

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