How to Apply for the Connecticut Small Business Express Program

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The State of Connecticut Small Business Express Program (“EXP’) was designed to provide loans and grants to Connecticut small business to spur growth and job creation. The programs offer access to capital and incentives for loan and grant funds to create jobs as follows:

 

 

 

For Access to Capital:

*EXP Revolving Loan Fund

 

For Incentive Loan and Grant Funds to Create Jobs:

* EXP Job Creation Incentive Loan

* EXP Matching Grant

 

To be Eligible for the EXP Revolving Loan Fund:

* Employ not more than one hundred employees

* Have operations in Connecticut

* Have been registered to conduct business for not less than twelve months, and

* Be in good standing with the payment of all state and local taxes and with all state agencies

Priority will be given to economic-based industries

 

Eligible Expenditures include:

* Purchase of machinery and equipment

* Construction of leasehold improvements

* Relocation costs

* Working capital

* Other business-related expenses as authorized by the Commissioner of DECD

 

Terms and Conditions are:

* Loan amounts from $10,000 to $100,000

* Up to 4% interest rate

* Maximum 10 year term

* DECD determines loan terms, conditions, and collateral requirements in a manner that prioritizes job growth and retention

 

Application process:

To apply business owners must submit the application.  There are Program Guidelines to assist you.

About the author:

Tom Scanlon, CPA, CFP®

Tom Scanlon has over twenty-five years experience in public accounting with an extensive background in the areas of financial, tax and estate planning.
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