Important Notice:

Please note that DECD is not accepting applications for the Connecticut Recovery Bridge Loan Program at this time. For those that have already submitted an application, additional documentation can be sent within seven days of submittal. Incomplete applications will not be considered for funding.

Please know that DECD staff will continue to assist clients in need and connect them with the other state and federal resources that are currently available. Inquiries should be sent to DECD.COVID19@ct.gov.
 

About the Recovery Loan Program

To provide emergency cash flow relief to small businesses and nonprofits negatively impacted by the coronavirus (COVID-19), Connecticut is now offering qualifying organizations with 100 or fewer employees access to no-interest loans.

Under the Connecticut Recovery Bridge Loan program, a qualifying business or nonprofit organization can apply for a loan of up to $75,000 or three months of operating expenses (whichever is lesser).

This $25 million short-term emergency loan program is administered by the Department of Economic and Community Development (DECD) and expedited with the administrative and underwriting support of Connecticut Innovations.

 

Eligibility

To be considered for this program, your business or nonprofit must:

• Have no more than 100 employees.
• Be in good standing with the Department of Revenue Services (DRS) & DECD.
• Have been profitable prior to March 10, 2020— with no adverse personal credit reports 60 days past due the past six months.
• Not be involved in real estate, multi-level marketing, adult entertainment, cannabis or firearms; nor be a state elected public official or state employee.

 

Terms & Conditions

• Loan maximum of (a) $75,000 or (b) three months operating expenses, whichever is less.
• 0% interest rate.
• 12-month term, with 6-month extension available per request.
• Freely pre-payable.
• Working capital loan.
• Personal guarantee and credit score required.

For more information, view our website.