IMPORTANT Update on Recovery Bridge Loan Program from DECD
Within the last 24 hours, DECD, along with our partner Connecticut Innovations, has added additional staff to process applications for this loan program. In addition, we are doubling the funding in the program to $50 million.
We will continue to monitor this rapidly evolving situation and keep in close contact with our small business and nonprofit partners as they grapple with the effects of this pandemic on their operations and employees.
We feel it is prudent to hit pause and stop taking more applications right now to ensure we can process the current queue efficiently and get this much-needed money out the door as quickly as possible.
We want to be fair to all applicants and taking more requests would not be right.
We encourage businesses to apply for SBA disaster assistance loans here
You can find out about state business resources on the state’s coronavirus website. In addition, details on the forthcoming federal stimulus, which will provide direct assistance to small business and individuals, can be found here.