Business Lines of Credit

Up to $250,000

Businesses from time to time have the need for short-term financing and need some flexibility to achieve their business goals. A business line of credit can be the solution.

A business line of credit can give you extra financial flexibility and peace of mind.

• Lines continually revolve
• You pay interest only on the outstanding balance used

Receive funds for a short term for:

• Working capital
• Seasonal borrowing
• Inventory purchases and/or to perhaps to take advantage of special discounts from your suppliers
• Gap coverage due to slow collections of your accounts receivable
• Occasionally making payroll
• Paying time-sensitive bills

How do I know if I'm eligible to apply?

Loan Eligibility Requirements ›

I am eligible. Where do I begin?

Request Contact from a Loan Officer

• Submit a Loan Inquiry Form.
• Print the Loan Application along with the applicable documents.
• Complete the Loan Application. Don't forget all of the needed supporting documents. See the checklist provided. Submit your completed application package to:
  CEDF,  Attention: Ricardo Vidal, Director of Lending,  965 East Main Street,  Meriden, CT 06450

	Purpose	Amount	Rate	Term	Structure
Term Loan	Working capital (including start-ups), inventory, equipment, refinance current debt	$1,000 up to $50,000	Fixed	Up to 6 years	Monthly payment of principal and interest. Cannot revolve, no balloon or call provisions. No prepayment penalty.
		$5,000 up to $250,000	Fixed	Up to 10 years
Commercial Real Estate Loan	Purchase of owner occupied commercial real estate property	Up to $500,000	Fixed	Up to 25 years	Monthly payment of principal and interest. Cannot revolve, no balloon or call provisions. No prepayment penalty.
Line of Credit	Seasonal or cyclical operating cash flow needs	$5,000 up to $250,000	Variable	Short-term financing; one year renewable	Monthly payment of interest only, only on the amount outstanding. The line revolves as you use it and repay it. No prepayment penalty.