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.
- 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%
- 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