This is for companies that were profitable prior to the virus outbreak
HARTFORD March 26, 2020 – The Connecticut Department of Economic and Community Development today announced an emergency bridge loan program for small businesses during the COVID-19 crisis. These zero-interest loans are available for companies with fewer than 100 employees that were profitable before the virus outbreak.
“It’s great to see the state act promptly to address the problems small businesses are facing right now with cashflow which is making it hard for many to stay afloat.” said Andrew Markowski, state director of NFIB in Connecticut. Clearly, there’s a shared recognition of the essential role small businesses play in our economy and will play in our recovery.
“The bridge loans will help provide the money these businesses need now to pay the bills and keep employees on the payroll even when their doors may be temporarily closed. For some, this cash may mean the difference between getting through the next couple of tough weeks or shutting their doors for good.”