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 |
| 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 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 |
Call: (860) 500-2405 |
| HEDCO |
Statewide. Also special loan funds for geographic areas and minority-owned and/or women-owned businesses. |
Call: (860) 527-1301 |
| Community Investment Corp (CIC) | Statewide | |
| Community Economic Development Fund (CEDF) | Statewide | |
| Capital for Change | Statewide |
Call: (203) 789-8690 |
| BDC Capital | Statewide |
Call: (781) 928-1100 |
| Waterbury Development Corp (WDC) | Greater Waterbury |
Call: (203) 346-2607 |
| Southeastern CT Enterprise Region (seCTer) | New London County plus the town of Windham |
Call: (860) 437-4659 |
| Northeast CT Economic Alliance | Northeastern CT |
Call: (860) 465-5141 |
| Middlesex County Revitalization Commission | Middlesex County | |
| Spanish American Merchants Association | Statewide, with a focus on Latino-owned small businesses | |
| Black Business Alliance |
Statewide | |
| Crowdfunding | Nationwide |
Other Financial Resources
| Connecticut Department of Labor | |
| IRS Tax Relief | |
| Connecticut Department of Revenue Services Tax Relief | |
| Utility Company Relief Programs |