Governor Lamont Announces New $150 Million Loan Program for Connecticut Small Businesses and Nonprofits
Governor Ned Lamont today announced the launch of the Connecticut Small Business Boost Fund, a public-private partnership that provides low-interest loans to small businesses and nonprofits in Connecticut. Applications are now being accepted for loans ranging from $5,000 to $500,000.
The program is aimed at helping small businesses and nonprofits, particularly those in low-income and historically underserved communities, with access to flexible working capital. The loans have a fixed, 4.5% interest rate and are available to eligible small businesses and nonprofits with operations in Connecticut that have 100 or fewer full-time employees and annual revenues of less than $8 million.