INCENTIVE DESCRIPTION

State:	CT
Incentive Type:	Cash Grants and Financing Incentives
Incentive Title:	Direct Loans
Description:	1. DIRECT LOANS: Direct loans available to projects that help maintain or expand the state's tax base. The loans offer a below market interest rate and may be subordinated. Loans may also be used in conjunction with other sources of funding, both public and private. Funds may be used for any business activity that is non-residential or non-owner occupied real estate. 2. ECONOMIC AND MANUFACTURING ASSISTANCE ACT: (MAA) Incentive driven direct loans that are for projects that demonstrate a strong economic impact. 3. GUARANTEED AND PARTICIPATING LOANS: Loans available to Connecticcut companies for business formation and expansion. Funds are available through private sector lenders, enabling the company to receive more funding than they would normally receive.
Eligibility Requirements:	1.Project must demonstrate a strong economic impact on the state, funding would not occur without CDA involvement and loan amount is less than $20,000 per job retained or created. Total loan amount is $5,000,000. Owners must personally guarantee loan and show debt service capabilities. Borrowers must also develop and implement an Affirmative Action Plan. 2.Funds may be used for: 1) planning; 2) acquisition of real property, machinery or equipment; 3) construction of site and infrastructure improvements; 4) construction, renovation or demolition of buildings; 5) relocation expenses; 6) working capital and 7) business support services. 3. Project must demonstrate strong economic potential and borrower must deomstrate that loan cannot be made without CDA involvement. Owners must provide personal guarantee and CDA assistance is less than $20,000 per jo created or retained. CDA may cover up to 40% of the loan. Borrower must show ability to service the debt.
Geographic Restrictions:	Statewide
Granting Authority:	DECD

The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.