Community Economic Development Fund

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 security 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 capitalize on special discounts from your suppliers
  • Gap coverage due to slow payers in your accounts receivable
  • Occasionally making payroll
  • Paying time sensitive bills

How much does it cost to apply for a business line of credit?

CEDF does not charge an application fee or processing fees. Once your loan is approved you may be assessed a 1% commitment fee.

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

Loan Eligibility Requirements ›

I am eligible. Where do I begin?

  • First click here on the Loan Inquiry Form, fill out and hit submit
  • Then print the Loan Application along with the applicable documents
  • Complete the application. Be sure to provide all of the supporting documents needed from the checklist provided. Once you have everything done, please submit your completed application package to:
    CEDF,  Attention: 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.

Not sure which loan or educational service meets your need?

Please give us a call toll-free at 888-835-2333 or contact us online