Loan Applicants–we are here to help! Please attend our upcoming Loan Session in Meriden on February 24th from 5:00 pm – 7:00 pm!! Loan sessions assist potential borrowers to navigate the application process. The loan sessions are interactive and designed to answer questions and provide an opportunity to meet with lenders for personal assistance. Please email Scott Arnold at s.arnold@cedf.com to confirm your attendance.

CEDF’s winter small business classes will be held in Stamford, Meriden and East Hartford. Some classes begin as soon as next week, so register today online by visiting our Training Institute page. If you have any questions, contact the Institute Director at 203-235-2333 ext. 2040. We hope to see you in class!

If you are scheduled to attend the Bridgeport Loan Session on January 12th from 10:00 am – 12:00 noon at Aquarion Water Company, that session has been rescheduled due to winter storm warnings.  The loan session is rescheduled to January 18th from 10:00 am- 12:00 noon at the same location.  CEDF is also holding a loan session at our headquarters in Meriden from 5:00 – 7:00 pm on January 20th.  Please contact Scott Arnold, Director of Lending at s.arnold@cedf.com or 203-235-2333 ext. 2020 to reschedule your attendance for the 18th or to rsvp for the 20th.

The Small Business Training Institute will begin winter classes in late January. The registration period for Business Finance, Tax, Quickbooks and Marketing workshops is currently open. Classes fill quickly so register online today! Visit the Training Institute page of our website for more information on the workshops or to register online. We hope to see you in class!

Loan Applicants–we are here to help! Please attend our upcoming Loan Session in Bridgeport on January 12th from 10:00 am – 12:00 noon or in Meriden on January 20th from 5:00 pm – 7:00 pm!! Loan sessions assist potential borrowers to navigate the application process. The loan sessions are interactive and designed to answer questions and provide an opportunity to meet with lenders for personal assistance.

The Bridgeport session will be held at Aquarion Company, 835 Main Street in downtown Bridgeport across from People’s Bank headquarters. Free parking is available in the gated lot on the corner of Ceasar Batalla Way and Broad Street (please do not park in the garage attached to the building). The free lot is just behind the building.

The Meriden session will be held at CEDF’s headquarters, 965 East Main Street. 

Additional sessions will be scheduled around the state in the coming weeks.

CEDF provides flexible financing and business support to small and micro-businesses whom may need funding for start-ups or existing businesses and cannot obtain the traditional bank financing.

The loan sessions will not include business plan development, however, resources will be shared for businesses in need of that assistance. Please contact Scott Arnold, Director of Lending at 203-235-2333 ext. 2020 to confirm your attendance.

Community Economic Development Fund (CEDF) is announcing the immediate availability of new, low-interest loan money for small businesses in need.  Under the terms approved by the state, businesses may borrow up to $100,000 at 4 percent interest for repayment over a 10-year period. These loans can also be used in combination with other CEDF loans up to a maximum of $500,000.

 The money comes from a state loan pool that the state Department of Community and Economic Development (DECD) is making available to CEDF for distribution to small businesses, said Donna Wertenbach, CEDF president and CEO.

Businesses which borrow the money must be based in Connecticut and have 50 or fewer employees. The loan can either be in the form of a term loan or a line of credit. Loan proceeds can be used for working capital, inventory, purchase or rehab of commercial real estate etc. While there are some restrictions such as it cannot be used to refinance existing debt, CEDF has other funds available to cover these needs.

 This is a great opportunity for small businesses in need of new capital,” said Wertenbach.

 This latest money is in addition to the existing CEDF loan pools available to businesses throughout the state to help meet their needs during this difficult recession. 

 ”It’s important that businesses in Connecticut towns understand that they can get help even during these difficult times,” said Wertenbach. “CEDF specializes in lending money to small businesses with less-than-perfect credit, or those which have had difficulty getting conventional bank loans. We don’t have a cookie-cutter approach; we can lend on flexible terms to fit many different needs,” she said. 

 CEDF was created in 1994 to revitalize Connecticut’s distressed neighborhoods by providing small businesses greater access to capital and technical assistance. Since then CEDF has provided millions of dollars in small business loans and created or retained thousands of jobs for the state’s residents.

 For more information, contact CEDF at 203 235-2333 ext. 2020 and ask for Scott Arnold, CEDF’s director of lending. CEDF staff would be delighted to walk you through all the options available.