Helping businesses owned by women & minorities

April 20, 2020

Due to the negative influence of the COVID-19 pandemic, Hartford-based nonprofit HEDCO Inc. has announced it will provide loans up to $20,000 interest-free to small businesses owned by minorities and women.

The nonprofit will operate the loan program in conjunction with Governor Lamont's office, the Connecticut Department of Economic & Community Development (DECD), the Women's Business Development Center, and the Connecticut Minority Business Initiative.

Program Requirements

  • Business must have 20 or fewer employees
  • Business must be at least 51% owned by a woman or a member of the minority community
  • Business must be in "good standing" with Department of Revenue Services
  • Must be in business for at least six months
  • Loan must be repaid within 12 months

To read more about the program, click here.