Small Manufacturers Competitiveness Fund (DECD)

Small Manufacturers Competitiveness Fund (DECD) Financial and technical assistance to small manufacturer's that will enable them to become or remain competitive against out-of-state and foreign manufacturers.

What's the value to me?

If you are looking for a 50% matching fund for amounts up to $200,000 which can be used for working capital, machinery and equipment, etc.

Description & Overview

The Small Manufacturers Competitiveness Fund (SMCF) will provide financial and technical assistance to small manufacturer's that will enable them to become or remain competitive against out-of-state and foreign manufacturers.

Eligible Use of Funds:

  • Working Capital
  • Machinery and Equipment
  • Building/construction
  • Leasehold improvements
  • Other eligible uses under MAA

Services

  • Provide access to capital-loans up to a maximum of $200,000
  • Payment for technical assistance, business counseling and guidance
  • Provide client loan review and monitoring on a monthly basis

Criteria

  • Must have a manufacturing SIC code of 20XX to 39XX (Same as the Manufacturers Assistance Act)
  • Business cannot be in receivership, bankruptcy or foreclosure
  • Must be on good terms with suppliers (COD cash on delivery is acceptable-verifiable no liens)
  • Capable of producing customer purchase orders for ongoing business cash-flow
  • Current or projected cash-flow must show debt service coverage

Contact

505 Hudson Street
Hartford, CT 06106

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

Phases:

Scale
Plateau

Related Advanced Manufacturing