Loan Program For Small Businesses, Non-Profits Affected By COVID-19

March 26, 2020

Some good news for small businesses and nonprofits negatively affected by the COVID-19 pandemic!

The Connecticut Recovery Bridge Loan Program, announced by Governor Ned Lamont, will make $25 million available to Connecticut businesses and nonprofits that have 100 or fewer employees to assist with cash flow.

Small businesses and nonprofits can now apply for one-year, no-interest loans of up to $75,000 under the program administered by the state's Department of Economic and Community Development (DECD).

Please read the Governor's press release regarding the loan program by clicking here 

Loan amounts are up to the lesser of either three months operating expenses and/or $75,000.

Provisions and eligibility requirements include:

  • Zero percent interest rate;
  • 12-month term with 6-month extension per request;
  • Personal guaranty and credit score required;
  • Approval contingent upon business being profitable prior to March 10, 2020 and no adverse personal credit reports 60 days past due for the last 6 months.

All eligibility and application information can be found on the state’s COVID-19 website at

Stay in touch!