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CEDF is one of two providers statewide who participate in the
Small Business Administration's
Micro Loan Program.
Product:
- loans up to $35,000
- flexible terms and conditions to meet business needs
- free business consulting assistance from CEDF staff
- can be used in conjunction with other CEDF loans up to
$105,000
Eligibility / Application Criteria:
- for profit businesses
- meets CEDF eligibility requirements (see requirements)
- benefit to the community
- simplified business plan including financials
- CEDF simplified application
- Reasonable ability to repay loan
Terms:
- 3 to 6 years
- No prepayment penalty
- flexible loans
Uses:
- Working Capital
- Equipment or machinery
- Inventory
Pricing:
- Fixed rate of interest
- Interest rates starting as low as 9.5% for qualified borrowers
- $100 annual contribution towards technical assistance
- reimburse CEDF for credit reports
- no fees
Collateral:
- borrower(s) must sign personally
- pledge any assets
Contact:
Nadine Cabrera
Phone (860) 249-3800, ext. 309
Download Application
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In this section
CEDF will be
moving its offices to 965 East Main Street in Meriden in May of 2008. The new
location, on the site of the former Lane Construction building,
will make us more centrally accessible to community partners and clients
throughout the state.