Do you own and operate a business in Connecticut? Or, are you looking to start a new Connecticut business? If so, you’ll likely need funding. Below, you’ll find a comprehensive list of business grants and loans that are only available for Connecticut businesses. Scroll through and discover whether your business is eligible for any of these funding options.
Department or Agency: Connecticut Department of Economic and Community Development
Loan or Grant title: Connecticut Small Business Boost Fund
Loans between $5,000 and $500,000 may be secured by Connecticut small businesses depending on eligibility and need. Funds can be used toward working capital for things like equipment, utilities, payroll, and other expenses.
Department or Agency: Connecticut Center for Advanced Technology
Loan or Grant title: Incumbent Workforce Training Program
This program provides financial reimbursement up to $50,000 for training expenses provided by a third-party company in an effort to increase the skill level of Connecticut manufacturing workers. Applicants must have training expenses of at least $5,000 within a six-month period.
Department or Agency: Community Economic Development Fund
Loan or Grant title: Women and Minority Loan Guarantee Program
This loan guarantee program was created with the intention to help women- and minority-owned businesses secure funding that is otherwise unavailable to them, often due to a lack of collateral or low credit. Qualifying businesses must have a maximum of 50 employees and meet other requirements in order to receive a loan up to $50,000.
Department or Agency: HEDCO
Loan or Grant title: HEDCO Loans
HEDCO provides term loans in amounts up to $500,000 to start-ups and established small minority- and women-owned businesses.
Department or Agency: Community Capital Fund (CommCap)
Loan or Grant title: Small Business Loans
CommCap Small Business Loans are available for working capital, leasehold improvements, and other expenses. Loan amounts range from $50,000 to $500,000 and must go toward job creation and result in tax revenue for the city of Greater Bridgeport or the state of Connecticut, among other requirements.
Department or Agency: Town of West Hartford
Loan or Grant title: Small Business and Nonprofit Recovery Grant Program
The Connecticut town of West Hartford designed this program to provide support to businesses located in Hartford with 50 or fewer full-time employees and that have been negatively impacted from an economic perspective by COVID-19. This financial support is given in amounts up to $10,000.
Department or Agency: City of Middletown
Loan or Grant title: City of Middletown Business Operating Grant Program
Businesses based in Middletown, Connecticut, and that have been in operation for a minimum of 24 months (among other qualifications) may be eligible for this operating assistance grant. The maximum grant amount will not exceed $5,000 and can be used toward rent, utilities, and other ongoing fixed expenses and operating costs.