Recovery Bridge Loan Program

The State is offering relief to small businesses through a new DECD program called the Connecticut Recovery Bridge Loan Program, a $25 million short-term emergency loan program. Qualifying small businesses and nonprofits with 100 or fewer employees can apply for a loan of up to $75,000 or three months of operating expenses (whichever is less). The loan program will be allocated on a first-come, first-served basis. Eligibility Requirements To be considered for this program, a business or nonprofit must: Have no more than 100 employees Be in good standing with the Department of Revenue Services (DRS) & DECD Have been profitable prior to March 10, 2020— with no adverse personal credit reports 60 days past due the past six months Not be involved in real estate, multi-level marketing, adult entertainment, cannabis or firearms; nor be a state elected public official or state employee For more information on the Connecticut Recovery Bridge Loan Program and how to apply, please click here: https://portal.ct.gov/…/Cor…/CT-Recovery-Bridge-Loan-Program. You can also find this information on the CMSC website: https://ctmainstreet.org/. Please share this information widely. If you have questions, DECD has set up a specific number and email for COVID questions: COVID19.JIC@ct.gov or call the DECD small business hotline at 860-500-2333