DECD Announces Connecticut Recovery Bridge Loan Program
The emergency relief funding for nonprofits and small businesses impacted by the Coronavirus has been launched. The Connecticut Recovery Bridge Loan Program will provide short-term loans to businesses and nonprofits with fewer than 100 employees. 0% interest rates for up to 12 months. Under this $25 million program, they a can borrow up to $75,000.
DECD will administer the program with administrative and underwriting support from Connecticut Innovations. The one-page application, as well as the approval criteria and other important information, can be found on the DECD website.