Small Business Express


Currently DECD is not accepting applications for the Small Business Express program.

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)

The department is in the process of evaluating all of its financial assistance programs, so modifications to the Small Business Express program may be forthcoming.  All those interested in applying should contact Sheila Hummel, program administrator, for additional details.


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


Sample Monthly Payments and Pay Back Amounts

For a 10 Year Loan at a 3.50% Interest Rate

Loan Amount

Monthly Payment

Principal Pay Back in 10 Years

Interest Pay Back in 10 Years

Total Payments in 10 Years

$ 25,000

$ 247.21

$ 25,000

$ 4,665.76

$ 29,665.76

$ 50,000

$ 494.43

$ 50,000

$ 9,331.52

$ 59,331.52

$ 75,000

$ 741.64

$ 75,000


$ 88,997.28


$ 988.86












































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 speak with a DECD project manager prior to submitting an application. Please contact DECD and create a profile so a project manager can be assigned to complete a pre-screening.

Click here to track your current application.

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

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 the DRS Taxpayer Service Center or by submitting a paper request form:

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:


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