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Connecticut Launches Small Business Bridge Loans

Gov. Ned Lamont’s Economics Chief David Lehman announced the immediate roll-out of the Connecticut Recovery Bridge Loan Program, which will allow Connecticut small businesses hit the COVID-19 crisis to borrow up to $75,000 at no interest. The loans should help businesses stay afloat until they can obtain larger funding amounts from the federal government. Eligible businesses must have fewer than 100 employees; must have been profitable prior to March 10, 2020; must not have adverse personal credit reports in the past six months; and must be in good standing with the Department of Revenue Services and the Department of Economic and Community Development.