Minority Business Funding

• Program offers term loans and lines of credit ranging from $10,000 to $100,000 for minority and women-owned businesses in Connecticut • Key Financial Terms: - Fixed 4% interest rate - Loan maturity up to 10 years • Eligibility Requirements: - Business must be in operation/registered for at least one year - Must be physically located and operating in Connecticut - Must be a for-profit business - Must be current on all state and federal taxes - Business owners with 50%+ ownership cannot be more than 60 days late on child support • Application Process: - Can apply online through HEDCO (Hartford Economic Development Corporation) - Alternative option to mail/fax completed forms to HEDCO • Additional Support Available: - Minority-owned business advising - Enhanced access to state contracting opportunities through SBE/MBE certification - Access to other funding programs including CT Boost Loan Program and Manufacturing Assistance Act - Network of lending partners offering additional financing options • Bilingual support available via toll-free hotline: (844) 257-9503