Microloan Guarantee Program (CEDF/DECD)

Microloan Guarantee Program (CEDF/DECD) A loan program that helps foster business development and employment growth for woman and minority owned businesses that cannot access financing through conventional means.

What's the value to me?

If you are a woman or minority-owned business looking for up to a 30% guarantee of principal on loans under $50,000.

Description & Overview

A loan program that helps foster business development and employment growth for woman and minority owned businesses that cannot access financing through conventional means.

Services

  • The program offers a 30% guarantee of principal on loans $50,000 and under.
  • Technical assistance to fine tune a business plan is available.

Criteria

  • Must be woman or minority owned where 51% percent is owned by a woman or a minority who is actively engaged in the daily affairs of the business and has the power to direct the management and policies of the business.
  • Applicants are required to have a business plan.
  • Business must be located in Hartford, Stamford, or West Haven
  • Can be used in industrial, commercial, agricultural, retail and service businesses.

Contact

965 East Main Street
Meriden, CT 06450

Scott Arnold
P: 203-235-2333 x 2020
W: Community Economic Development Fund

Categories:

Debt
Capital / Funding

Phases:

Business Model Discovery / Validation
Launch
Scale

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