Community Economic Development Fund

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: Karen Tessman, Director of Lending,  965 East Main Street,  Meriden, CT 06450

 

  Purpose Amount Rate Term Structure
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.

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