- July 12, 2021
- Posted by: Stratford Team
- Category: Business
The state Department of Commerce is partnering with financial institutions and community-based organizations.
Low-interest loans of up to $150,000 are available to small business owners and nonprofits through the state’s new Small Business Flex Fund.
The state Department of Commerce is partnering with financial institutions and community-based organizations to lend $100 million or more to firms with fewer than 50 employees and annual revenue of less than $3 million.
Qualifying firms can apply for loans up to $150,000. Loans are available in 60- or 72-month terms at interest rates between 3% and 4.5%.
The fund is a public-private partnership aimed at helping small businesses and nonprofits — particularly those in low-income communities — recover as the state reopens for business.
“Reopening our economy is an incredible milestone and we want to ensure that our smallest businesses and nonprofits have equitable access to flexible…
