Economic Development Administration (EDA) Loans – Flexible Capital for Small Business

Defense Diversification and Adjustment Revolving Loan Fund

Our Defense Diversification and Adjustment Revolving Loan Fund (Defense Loan) was developed in response to cut backs in the defense industry in the early 1990’s. Today the Defense Loan continues to provide flexible small business loans within a specific geographic area.

Defense Loans can be used to finance the following:

• Real estate (land and building)
• Renovation and/or expansion of your current business space
• Purchase and installation of machinery and equipment
• Working capital

Typically, Defense Loans are combined with loans from other lenders to comprise a total financing package. We will work closely with your lender to put together a package that works best for you.

Advantages

Conserve Valuable Operating Capital / 90% Financing

• The total financing package can be as high as 90% of the cost of the project, allowing your small business to conserve its cash for working capital or other expansion needs

Low Fixed Rate

• The interest rate on the Defense Loan is fixed, eliminating the risk of rate fluctuation*

*Both the fixed rate and the term of the Defense Loan are market driven

Program Eligibility & Requirements

CTCIC staff has extensive experience working with the EDA Loan programs – the quickest and easiest way to determine if your business and your project meet program eligibility is to contact CTCIC. At the end of a phone conversation, we should be able to determine if a Defense Loan is the best financing solution for your business or whether one of CTCIC’s other loan programs is an option.

Defense Loan Territory

Defense Loans are available to growing companies within the following Connecticut cities and towns, known as its Defense Loan Territory: Bethany, Branford, East Haven, Guilford, Hamden, Madison, New Haven, North Haven, North Branford, Orange, West Haven and Woodbridge. To be eligible, your small business must be located within the designated Defense Loan Territory.

In addition, you must demonstrate that the Defense Loan will either (a) assist your business to become less dependant on defense contracts and related work or (b) enable your business to create jobs as part of a business expansion.

Speak to a Loan Officer Today!