The CT Boost Fund supports small businesses and nonprofits located in Connecticut
Grow America has partnered with the Connecticut Department of Economic & Community Development to provide access to capital and support services for entrepreneurs and organizations in the Constitution State.
Where to begin
A lending partner identifies a business that meets core requirements
- Located / operating in Connecticut
- Annual revenue under $8 million
- 100 or fewer full‑time equivalent (FTE) employees
- In operation at least 1 year
- Operates in an eligible industry (no gambling, lobbying, real estate investment, etc.)
- Current on all Connecticut and local taxes
How it works
Determine application readiness / Ask the business the following baseline questions
- Do you have 2 years of the most recent filed personal and business tax returns?
- Is your credit score 620 or higher?
- Are you and the business current on all federal, state and local taxes?
- Is the business profitable?
- Do you have a business plan?
Application
If the business is not yet ready:
- Refer the business to a Technical Assistance provider via the Request Support form on the CT Boost Portal
- A Technical Assistance provider helps strengthen the application. Gathering documents, business planning, etc.)
- Business may resubmit once ready
If the business is ready:
- Refer the business to the CT Boost portal to complete the pre-application
- Business is matched with one or more lenders and selects their preferred option.
- The selected lender contacts the business to request required documentation
- Lenders evaluate eligibility based on their underwriting criteria, underwriting typically takes 7-14 days
Next steps
Matching with a lender isn’t a guarantee, lender may decline after review
- If approved, loan documents are signed, and funds are disbursed
- If declined, lender refers to a Technical Assistance Provider and the Technical Assistance provider works with the business and the application can be resubmitted
- Optionally, post-funding Technical Assistance is available to support loan success and business growth
