CT Recovery Bridge Loan Program for Small Businesses

Posted on March 27, 2020 by jpheasant


Zero interest loans now available to small business owners who have been negatively affected by the coronavirus.

The Connecticut Department of Economic and Community Development (DECD) Recovery Bridge Loan Program website is now accepting applications.

As with any government program restrictions apply, so please be sure to read the fine print before applying.

What is the Recovery Bridge Loan Program?

The Connecticut Recovery Bridge Loan program is designed to provide emergency cash flow relief to small businesses and nonprofits who have been negatively impacted by the coronavirus. Connecticut organizations with 100 or fewer employees access (who qualify) can receive no-interest loans to help their businesses.

Under the program, a qualifying business or nonprofit organization are able to apply for a loan of up to $75,000 or three months of operating expenses (whichever is lesser).

This $25 million short-term emergency loan program is administered by the Department of Economic and Community Development (DECD), expedited with the administrative and underwriting support of Connecticut Innovations, and be allocated on a first-come, first-served basis.

Is my business eligible?

To be considered for this program, your business or nonprofit must meet the following criteria:

  • Have no more than 100 employees
  • Be in good standing with the Department of Revenue Services (DRS) & DECD
  • Have been profitable prior to March 10, 2020— with no adverse personal credit reports 60 days past due over the past six months
  • Not be involved in real estate, multi-level marketing, adult entertainment, cannabis or firearms; nor be a state elected public official or state employee

What are the Terms & Conditions?

  • 0% interest rate
  • 12-month term, with an additional 6-month extension available upon request
  • Loan maximum of (a) $75,000 or (b) three months operating expenses, whichever is less
  • Freely pre-payable
  • Working capital loan
  • Personal guarantee and credit score required

How do I apply?

Applications can be found here.

In addition, the following information will also be required:

  • Project Financing Plan & Budget
  • 2019 Income Statement (or) Profit and Loss Statement
  • Internal Financial Statements (YTD)
  • 3-month projected cash flow, demonstrating need
  • Summary of adverse economic impact resulting from COVID-19
  • Recent credit score report
  • Applicant Structure Documents
  • Personal Financial Statement
  • Ownership Breakdown
  • DRS Letter of Good Standing

Upon completing the application and obtaining the required documentation, organizations can submit the information online, via email to

For FAQs, please click here.

For additional information or questions, contact the Express Hotline at (860) 500-2333 or via email at Email preferred due to high volume on phone lines.

If you would like to speak with me directly, please feel free to call me at (800) 842-1423 or email me at

You can also follow my legislative activity by visiting my website at, or follow me on Facebook at