About this programme
The Minority Business Revolving Loan Fund is a strategic partnership between HEDCO, the Spanish American Merchants Association (SAMA), and BBA, funded by Connecticut's Department of Economic and Community Development to support minority- and women-owned businesses statewide.
SAMA operates out of offices in Hartford and New Haven and administers the loan program directly, including a pre-qualifying interview step before a full application.
How it works
Loans are available as either a term loan or a line of credit, ranging from $10,000 to $100,000, at a fixed 4% interest rate, with a maturity of up to 10 years.
Who can apply
The business must be operational, or officially registered, for at least one year, physically located and operating in Connecticut, and structured as a for-profit entity.
The business must be current on state and federal taxes.
Principals with 50% or more ownership cannot be more than 60 days delinquent on child support obligations.
How to apply
- Complete a pre-qualifying interview with SAMA.
- Submit the completed application form along with a business plan (for startups) or financial statements (for existing businesses), personal financial statements of the principals, two years of income tax returns, an insurance certificate, resumes, a copy of a multi-year lease, and a tax affidavit.
- Pay for a credit report, a $50 money order made out to HEDCO.
Documents you’ll typically need
- Completed application form
- Business plan (startups) or financial statements (existing businesses)
- Personal financial statements of the principals
- Two years of income tax returns
- Insurance certificate
- Resumes of principals
- Copy of multi-year lease
- Tax affidavit
- $50 money order to HEDCO for a credit report
Frequently asked
What interest rate and term should I expect?
A fixed 4% interest rate, with a maturity of up to 10 years, on either a term loan or a line of credit from $10,000 to $100,000.
How long does my business need to have existed?
At least one year of operation or registration in Connecticut.
What disqualifies my application?
Being behind on state or federal taxes, or having a principal with 50% or more ownership more than 60 days delinquent on child support.
Is there a cost beyond the loan itself?
Yes. Applicants pay a $50 money order to HEDCO to cover a credit report as part of the application.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.