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:
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.
Conserve Valuable Operating Capital / 90% Financing
Low Fixed Rate
*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.