Direct Loans

About the Program

1.	Direct senior and subordinated loans
2.	Selective
	Mezzanine Investments Environmental remediation and redevelopment Inducement--below market interest rate--loans for significant expansion or relocation
3.	Can be coupled with loans or investments from other public- or private-sector sources

Eligibility

1.	Economic base business that will maintain or create employment
2.	Direct loans and mezzanine investments are not available for:
	Residential Non-owner occupied real estate Retail or personal services (eligible under URBANK) Not-for-profits (may be eligible under URBANK)

Loan Terms

1.	Personal guarantee of owner(s)
2.	CDA assistance up to $20,000 per job created or retained
3.	Debt-service capability is evident
4.	Interest rate appropriate to requested assistance plus standard fees and documentation
5.	Maturity tailored to transaction -- up to 20 years

Benefits to Borrower

1.	Access to loan that is otherwise unavailable
2.	Extended maturity
3.	Draw downs permitted during first 12 months
4.	No repayment penalties

Borrower's Process

1.	Contact:
	Stephen J. Benedetto 860.258.7838 P. Joseph Harpie 860.258.7832 Brien T. Day 860.258.7832 Robert A. Phelon 860.258.7836

See our CDA Lending Partners.

For Additional Information on all CDA Programs Contact CDA by email.

Applications:
Direct Loan Application

Other Helpful Documents: 
Personal Financial Statement
Comprewihensive Business Plan Outline
Financing Business Plan Outline