Connecticut Small Business Boost Fund

Supported by the Connecticut Department of Economic & Community Development, the Connecticut Small Business Boost Fund links Connecticut small businesses and nonprofits to the financial support they need to thrive.

  • No origination fees
  • Streamlined application process
  • Quick application approval timelines
  • Support in multiple languages
Apply

requirements for the Connecticut Small Business Boost Fund

PRE APPLY

Complete the pre-application questionnaire to help us get to know your business.

 

GET MATCHED

Eligible borrowers will be matched with a community lender after completing the pre-application.

 

BE SUPPORTED

Community lenders will assist with every step of the application and can connect you with additional support services if needed.

Apply

 

Loans can be spent on:

  • Equipment
  • Payroll
  • Utilities
  • Rent
  • Eligible refinancing
  • Supplies
  • Marketing
  • Advertising
  • Building renovations
  • Other expenses

LOAN TERMS

  • Borrow between $5,000 and $150,000 (subject to eligibility)
  • Fixed 4.5% interest rate
  • 60-month repayment terms for loans less than $150,000; 72-month repayment terms for loans over $150,000

ELIGIBILITY REQUIREMENTS

  • Business and nonprofits must have operations in Connecticut
  • Have no more than 100 full-time employees
  • Have annual revenues of less than $8 million
  • Businesses and nonprofits must have been in operation for at least 1 year prior to the date of application. A small amount of financing is available for start-up businesses
  • Note: The information presented above refers to the program in general. Depending on the type of business and time operating, you will be eligible with us.

DISCLAIMER

Due to a limited amount of funding availability and the high volume of applications expected, it is anticipated that not all applicants will be able to receive a loan. Applications will be reviewed on a rolling basis and will be managed to support the program’s goals. The time it takes to process an application will depend on the volume of applications received by the matched community lender. Please note that submitting an application is not an indication of eligibility and does not mean that a loan will be approved or funded. Additional information will be requested in your application that will determine your eligibility for a loan. We recommend applying as soon as possible. All rates and loan terms may be subject to change

Apply

I started off with a food truck. Now I have two restaurants and another on the way. All because Ascendus gave me that first loan.

Picture of chef Ernie Campbell

Ernie Campbell

Jamaica Mi Hungry

Because of Ascendus we were able to continue operations. Ascendus gave us an affordable interest rate, allowed us to offer competitive pay packages, and overall, helped us grow our business.

Annie Tao

Always Keep Progressing

Ascendus gave me resources, helped me build credit, and helped me prove that I could pay back a loan.

Emelyn Stuart

Emelyn Stuart

Stuart Cinema and Café

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