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If you are looking for loans that are grouped with other loans to finance projects in the defense industry in a specific geographic area.
Loan fund targets businesses in the defense industry, but can be used by other types of small business that will be expanding and creating job opportunities within the program's territory.
- Economic Development Administration loans are not intended to be stand-alone financing tools. In a typical transaction the EDA loan will represent 33 percent of the total project costs. Loans from other private sector lenders and/or borrower equity make up the remaining 64 percent.
- EDA loans can be used to fund the purchase and installation of machinery and equipment, real estate (purchases or renovations, including leasehold improvements) and limited working capital.
- EDA loan proceeds cannot be used to refinance debt or pay taxes.
- Interest rate and terms will reflect market conditions and level of risk. Startup small businesses will be considered.
- Must be in the targeted industry (defense) or create/retain jobs.
- Only applicable in certain towns in Connecticut.