Small Business Express

Overview

The Small Business Express program provides an array of financing options to fuel your progress, whether you need an equity investment, capital purchase or working capital.

Through state programs, small businesses can access direct funding from the Department of Economic and Community Development (DECD) and Connecticut Innovations (CI). In addition, Connecticut has a network of local and regional revolving loan funds as well as a host of business development services.

Types of financial assistance:

  • Revolving Loan Fund (from $10,000 to a maximum of $100,000)
  • Job Creation Loan Fund (from $10,000 to a maximum of $300,000)
  • Matching Grant Fund (from $10,000 to a maximum of $100,000)

Eligibility

An established small business may apply for this funding so long as it:

  1. employs not more than 100 employees;
  2. has operations in Connecticut or is planning to relocate operations to Connecticut;
  3. has been registered to conduct business for at least 12 months; and
  4. is in good standing with the payment of all state and local taxes and with all state agencies.

Priority considerations
Businesses creating jobs in economic-based industries, particularly those involved in exporting, will receive priority. They include, but are not limited to, precision manufacturing, business services, green and sustainable technology, bioscience and information technology sectors.

Eligible expenditures

  • The purchase of machinery and equipment
  • Construction
  • Leasehold improvements
  • Training
  • Working capital
  • Other business-related expenses approved by DECD’s Commissioner

Terms & Conditions

You must speak with a bank about financing your project before submitting a Small Business Express application. Exceptions include companies located outside of Connecticut or in a foreign country that plan to relocate to Connecticut as part of the project. All applicants must meet with a DECD project manager prior to submitting an application. Please send an email to DECDexpress@ct.gov so a project manager can be assigned to complete a pre-screening.

See the list of required documents for your application here.

Download forms:           

Please scan all required documents separately and label them with the name of the required document and email them to DECDexpress@ct.gov

All applications shall include a Letter of Good Standing from the Connecticut Department of Revenue Services (DRS). You can request Status Letters or a Letter of Good Standing online through DRS Taxpayer Service Center: 

DECD determines loan terms, conditions, and collateral requirements in a manner that prioritizes job growth and retention. If you are approved, you will be responsible for all closing costs before state funds are disbursed.

If you qualify for Small Business Express funding, you must retain your contracted employment obligations for 24 consecutive months.

For details on the application process, please:

Contact

For additional information or questions, contact Sheila Hummel at (860) 500-2405 or via email at Sheila.Hummel@ct.gov.