Connecticut small businesses eligible for SBA emergency loans

From Hartford Business Journal.

Small businesses in Connecticut are now eligible for federal emergency loans of up to $2 million, and the Hartford Foundation has launched a $1 million fund to respond to the needs of Greater Hartford residents impacted by the COVID-19 virus crisis.

The announcements came during a teleconference Monday afternoon hosted by the MetroHartford Alliance, which included representatives from the Department of Economic and Community Development (DECD), Connecticut Business & Industry Association (CBIA), the Hartford Foundation for Public Giving and the federal Small Business Administration (SBA).

Gov. Ned Lamont on Sunday submitted a request to the U.S. Small Business Administration, asking the federal agency to issue a declaration that will enable small business owners in the state to receive economic injury disaster loans.

The loan program falls under the purview of the SBA, and became available to Connecticut businesses just before 2 p.m. today, when the state was declared a federal state of disaster, said Moraima Gutierrez, a local SBA spokeswoman.

See the complete article from the Hartford Business Journal online.