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Small Business Loan Assistance

The Department of Economic and Neighborhood Development is the primary source of requests for a wide variety of service needs for small businesses.

We will also refer businesses to the financing programs available through the Connecticut Development Authority (CDA), the Connecticut Department of Economic and Community Development (DECD), the Community Economic Development Fund (CEDF), CT Minority Supplier Development Council, the Small Business Administration (SBA), and Conn. Community Investment Fund (CCIF). The office will also utilize the resources of the Connecticut Economic Resource Council, Inc. (CERC) and Connecticut Innovations Inc. (CII).

Since its formation in 2005, Hamden’s small businesses have requested help in developing business plans and its components that are required by most financing sources. Small businesses, in particular start-ups, need technical assistance in developing these plans as well as guidance with accounting, marketing and development issues.

Although some regional programs provide assistance to businesses in these areas, there are waiting lists and in most cases businesses do not receive on-site one-on-one help or comprehensive services. Most importantly, these services are needed on a one-to-one level, where the business could receive proper attention. This initiative can offer the type of hands-on assistance needed to make a project successful.