The state is making a foundational investment of $75 million into a public-private partnership which aims to lend $150 million or more to eligible businesses and nonprofits. The goal is for the fund to become self-sustaining as more private funds are invested. 

Small businesses and nonprofits can apply online atCTSmallBusinessBoostFund.org, and if they qualify, they will be matched with a lender. Once matched, the participating lender will assist the business owner throughout the application process. This lending model has previously found success in programs based in California, New York, and Washington state. 

The fund works with and through local community development financial institutions (CDFIs) and lenders that have decades of experience serving historically under-resourced and underbanked communities. The following CDFIs are participating in the program: 

• Ascendus 
• Capital for Change 

• HEDCO 
• NDC Community Impact Loan Fund 
• Pursuit 
• Southeastern CT Enterprise Region (SeCTer) 

It is administered by the National Development Council (NDC) with funding arranged by Calvert Impact Capital. In addition to funding from the Connecticut Department of Economic and Community Development (DECD), initial funding has been provided by Citizens Bank, M&T Bank, and First Republic Bank. 

For more information and to apply, visitCTSmallBusinessBoostFund.org.