About this programme
The Connecticut Small Business Boost Fund, run by the Department of Economic and Community Development, describes itself as more than a financing program: it is a one-stop shop giving business owners and nonprofits support and guidance before, during, and after the loan application process.
The fund takes an equity-minded approach, focused on communities that have historically faced barriers to working capital, and works through a network of community lenders and technical assistance providers rather than lending directly.
Loans can fund equipment, payroll, utilities and rent, supplies, marketing and advertising, eligible refinancing, and building renovations.
How it works
Loan amounts run $5,000 to $500,000, subject to eligibility, at a fixed 4.5% interest rate with no origination fees. Repayment runs 60 months for loans under $150,000 and 72 months for loans of $150,000 or more.
Loans are not forgivable; businesses repay the full amount borrowed.
Seven community lenders participate: Pursuit, Ascendus, Grow America (formerly NDC), Capital For Change, Southeastern Connecticut Enterprise Region, HEDCO, and CEDF.
Who can apply
The business or nonprofit must have operations in Connecticut, no more than 100 full-time employees, and annual revenue of up to $15 million.
Businesses with annual revenue over $8 million must put at least 75% of loan proceeds toward fixed assets, with the remaining 25% available for working capital.
The business or nonprofit must generally have been operating for at least one year before applying, though a small amount of financing is available for startups as an exception.
How to apply
- Start the application at ctsmallbusinessboostfund.org/apply-now/.
- Use the fund's free business guidance and support, available in multiple languages, before, during, and after the application process.
Frequently asked
How much can I borrow and at what rate?
Between $5,000 and $500,000, at a fixed 4.5% interest rate, with no origination fees.
How long do I have to repay?
60 months for loans under $150,000, or 72 months for loans of $150,000 or more.
Can a brand-new business apply?
Generally the business needs at least one year of operating history, though a small amount of financing is available for startups as an exception.
Is there a revenue cap?
Yes, up to $15 million in annual revenue. Businesses over $8 million must put at least 75% of the loan toward fixed assets.
Do I apply to the state directly?
No. You apply through one of the fund's seven community lenders: Pursuit, Ascendus, Grow America, Capital For Change, Southeastern Connecticut Enterprise Region, HEDCO, or CEDF.
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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.