SBA Microloans

CEDF is Connecticut's leading originator for eight years in a row

The program provides financing up to $50,000 to help small businesses start up or expand. The minimum amount is $1,000, however we generally do not encourage loans below $3,000. The maximum repayment term allowed by the SBA is six years.

How can I use the term loan proceeds?

• Working capital
• Inventory or supplies
• Furniture or fixtures
• Machinery or equipment
• Refinance debt (with some limitations)

 

How do I know I'm eligible to apply for a loan?

 Loan Eligibility Requirements ›

I am eligible. What do I do next?

Request Contact from a Loan Officer

• Submit a Loan Inquiry Form.
• Following your inquiry you'll be shown a page with our Loan Application and related required submissions. We provide a checklist of what you'll need.
• When you are ready, make the submissions electronically from our website. 
• Don't forget all of the needed supporting documents. Incomplete submissions will slow down processing of your request. 

	Purpose	Amount	Rate	Term	Structure
SBA Microloan	Working capital (including start-ups), inventory, equipment	$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.
Commercial Real Estate Loan	Purchase of owner occupied commercial real estate property	Up to $500,000	Fixed	Up to 20 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.