CDA

EARLY STAGE

  • About the Program

    1. Direct loans or mezzanine financing
    2. Normally made in tandem with loans or investments from other private- or public-sector lenders or investors

  • Eligibility:

    1. Businesses that have the potential to contribute significantly to the state's

    Technology base Intellectual capital
    Economic base Employment
    Urban Infrastructure Tax Revenues
    2. Not available for:

    • Residential
    • Non-owner occupied real estate
    • Retail or personal services (eligible under URBANK)
    • Not-for-profits (may be eligible under URBANK)
  • Use of Proceeds:
    1. Term working capital
    2. Machinery and equipment
    3. Purchase, construct, expand or upgrade facilities
    4. Mortgages on owner-occupied real property
  • CDA Program: Direct loans or mezzanine financing
  • Amount: Up to $5 million
  • Term Maturity: Tailored to each transaction
  • Loan & Investment Terms:

    1. Appropriate to business opportunity
    2. Personal guarantee of owner(s)
    3. Equity interest will be required when appropriate
    4. Maturity tailored to transaction

  • Benefits: 1. Access higher risk financing that is otherwise unavailable
    2. Incentive to establish and expand business in Connecticut
  • Borrower's Process:

    1. Contact:
    Karin Lawrence
    860.258.7814
    2. Submit application, business plan, historic and/or projected financial statements upon request

  • CDA Process:

    1. Flash response within 2-3 days following receipt of all appropriate documentation
    2. Staff review in 4-7 days
    3. Submit final documentation by 1st day of month
    4. Transactions presented to CDA's Board of Directors monthly

    See our CDA Lending Partners

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

  • Helpful Documents:

    Personal Financial Statement
    Comprehensive Business Plan Outline
    Financing Business Plan Outline