Term Loans
How are term loans through CEDF different from traditional bank loans?
- Flexible credit score requirements
- Flexible collateral requirements
- No prepayment penalties

How can I use the term loan proceeds?
- Working capital for inventory, rent, utilities, payroll and more
- Current debt
- Purchase of equipment and/or machinery
- Building/ leasehold improvements
- Other approved business needs
How do I know I'm eligible to apply for a loan?
Loan Eligibility Requirements ›
I am eligible. What do I do next?
- 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 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. |