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Find similar grantsMinority Business Revolving Loan Fund is sponsored by Connecticut Department of Economic and Community Development. Offers term loans and lines of credit to minority and women-owned businesses in Connecticut.
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Minority Business Funding Minority Business Funding If you are viewing this version of CT. gov, you are using an unsupported browser or you are in Internet Explorer 9 using compatibility mode. This means that the design and layout of the site is not fully supported, however the content of the site is still fully accessible and functional.
For the full website experience, please update your browser to one of the Internet Explorer 10 or higher. High Contrast Mode On or Off switch Minority Business Funding Just one of the ways Connecticut encourages the growth of minority-owned businesses is by making it easier to access capital.
In addition to an array of funding options, the Department of Economic and Community Development has developed a Minority Business Revolving Loan Fund . Administered through the Hartford Economic Development Corporation (HEDCO), this fund provides loans and lines of credit to Connecticut businesses owned by minorities and/or women.
Through this program, eligible applicants can apply for term loans and lines of credit from $10,000 to $100,000.
Loan Maturity: up to 10 years To be eligible for financing through the Minority Business Revolving Loan Fund, your business must be: in operation for at least one year and/or officially registered for at least a year; physically located and operating in Connecticut; current with both state and federal taxes for both the business owner and the business.
Note: principals with 50% or more ownership must not be more than 60 days delinquent on child support. There are two ways to apply for a Minority Business Revolving Loan. You can apply online through our program administrator, HEDCO.
You can download and complete the appropriate forms , then mail or fax them to HEDCO. Please see a list of FAQs related to programs, applications, process, payments and taxes here. Other DECD Funding Options The CT Boost Loan Program provides quick access to capital for small businesses.
The Manufacturing Assistance Act has made available incentive-driven direct loans for projects when there is a strong economic development potential. Financial assistance begins at $500K+. Outside Sources of Capital DECD also partners with a variety of lending partners who are committed to providing opportunities for promising minority leaders to build their businesses in Connecticut.
We encourage you to explore the funding options they offer as well. Hartford Economic Development Corporation (HEDCO) HEDCO offers small businesses flexible and affordable loan options up to $400,000 with rates as low as 4%. Community Economic Development Fund This organization funds micro loans ($35,000 and under) for small business borrowers.
Community Investment Corporation (CIC) CIC is a nonprofit economic development lender providing loans and guidance to small business entrepreneurs in Connecticut and Rhode Island who have powerful ideas and need help to grow. Connecticut Innovations (CI) CI has several grants and loans available to help small businesses innovate. Perfect for growing IT, biotech and high-tech businesses.
Southeastern Connecticut Enterprise Region (SeCTer) SeCTer's various loan programs provide loans from $10,000 to $2 million and can be combined with loans provided by partners (banks, government entities, equity financing).
The Minority Business Initiative also offers other types of support, including: Minority-Owned Business Advising Enhanced Access to State Contracting Opportunities through our SBE/MBE Certification Program For assistance with this funding program, or more information about any of the resources available through our Minority Business Initiative, call our bilingual toll-free hotline at (844) 257-9503.
Based on current listing details, eligibility includes: Minority and women-owned businesses in Connecticut with at least one year of operation. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates $10,000 to $100,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.
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The purpose of this FOA is to provide funding for up to four (4) Tribal Colleges and Universities (TCUs) that will provide entrepreneurial development services to Native American communities, focusing on supplying services to socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing SBA resources. Eligible applicants must be Tribal Colleges and Universities as defined in the Higher Education Act HEA 316 (U.S.C. 1059c). Funding Opportunity Number: SB-GC7J-23-002. Assistance Listing: 59.007. Funding Instrument: G. Category: BC,ED. Award Amount: Up to $250K per award.
The purpose of this FOA is to provide funding for up to two (2) private, non-profit organizations that will provide entrepreneurial development services to women, with an emphasis on socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing WBCs for the District of Columbia (DC) and the State of Oregon. There will be one award for each location. Eligible applicants must be private, non-profit organizations with 501(c) tax exempt status from the U.S. Treasury’s Internal Revenue Service and must provide services to the District of Columbia (DC) and State of Oregon. Funding Opportunity Number: SB-OEDWB-23-002. Assistance Listing: 59.043. Funding Instrument: G. Category: BC,CD,RD. Award Amount: $75K – $150K per award.
Small Business Innovation Research and Small Business Technology Transfer Programs Phase I is sponsored by U.S. Department of Agriculture (USDA) National Institute of Food and Agriculture (NIFA). The USDA SBIR/STTR programs support small businesses in creating innovative, disruptive technologies with commercial potential or societal benefit, including projects dealing with agriculturally-related manufacturing and alternative and renewable energy technologies. Specialty tubing could be relevant for agricultural equipment or renewable energy systems.