Small Business Reopening Resource Guide

Financial Needs

As the State of Connecticut begins reopening, one of the first questions asked is, “Where can I find funding”? Perhaps your need is a piece of equipment, inventory, renovation costs, or you haven’t yet applied for the Payroll Protection Program and you want to learn more about it.

 

Following is a list of resources that can help guide you, funders who work with small businesses, websites that are especially informative, and other relief programs that could help you. We hope you find this helpful and wish you much success as you take the courageous steps to reopen. The state, its agencies and its partners are here to support you!


Funding Options

Make sure you check with your local banks and credit unions for your financing needs. Here are some additional resources.

Company  Geographic Region

Contact Information

Payroll Protection Program (PPP) Nationwide. Contact CTSBDC or WBDC for one-on-one assistance.

Visit Website

PPP Lender nearest you

PPP Loan Forgiveness

SBA Economic Injury Disaster Loan Program (EIDL)

EIDL applications open for agriculture businesses only. Additional funding for farmers and ranchers and certain other agricultural businesses affected by the COVID-19 pandemic. Contact CTSBDC or WBDC for one-on-one assistance.

Visit Website
SBA Express Bridge Loan Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.  Visit Website
SBA Debt Relief on SBA loans
SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. Borrowers do not need to apply for this assistance. Check SBA’s website for details.  Visit Website
SBA Community Advantage Recovery Loans
New SBA loan program offers financial and technical assistance to existing small and start-up businesses in underserved areas to help adapt to changing business conditions in the COVID-19 environment and strengthen their ability to manage through potential future disruptions.  Visit Website
CT Dept of Economic and Community Development (DECD)
Statewide 

Visit Website

Call: (860) 500-2405

HEDCO

Statewide. Also special loan funds for geographic areas and minority-owned and/or women-owned businesses.

Visit Website

Specific Loan Programs

Call: (860) 527-1301

Community Investment Corp (CIC)  Statewide 

Visit Website

Contact

Community Economic Development Fund (CEDF)  Statewide 

Visit Website

Contact 

Capital for Change  Statewide 

Visit Website

Call: (203) 789-8690

BDC Capital  Statewide 

Visit Website

Call: (781) 928-1100

Waterbury Development Corp (WDC)  Greater Waterbury 

Visit Website

Call: (203) 346-2607

Southeastern CT Enterprise Region (seCTer)  New London County plus the town of Windham 

Visit Website

Call: (860) 437-4659

Northeast CT Economic Alliance  Northeastern CT

Visit Website

Call: (860) 465-5141

Community Capital Fund  Greater Bridgeport 

Visit Website

Call: (203) 332-7977

Middlesex County Revitalization Commission  Middlesex County 

Visit Website

Contact

Spanish American Merchants Association  Statewide, with a focus on Latino-owned small businesses 

Visit Website

Contact

Crowdfunding  Nationwide

GoFundMe

Patronicity

Mainvest

Other Financial Resources 

Connecticut Department of Labor
IRS Tax Relief
Connecticut Department of Revenue Services Tax Relief 
Utility Company Relief Programs

 

Helpful Website Resources