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Connecticut Small Business Boost Fund
General · Connecticut Department of Economic and Community Development (DECD) · CT
The Connecticut Small Business Boost Fund is a state-run loan program from the Connecticut Department of Economic and Community Development offering fixed 4.5% working-capital loans between $5,000 and $500,000 to eligible small businesses and nonprofits operating in Connecticut.
The Connecticut Small Business Boost Fund is a working-capital loan program run by the Connecticut Department of Economic and Community Development (DECD). Despite the name and its listing under funding programs, this is a loan, not a cash grant — businesses that receive funds are expected to repay them.
The program offers fixed-rate loans, at 4.5%, ranging from $5,000 to $500,000. It is designed to give Connecticut small businesses and nonprofits flexible access to working capital, with additional application support built into the process. The state has specifically highlighted a focus on reaching historically underbanked business owners, including women, minorities, veterans, and people with disabilities, though the underlying eligibility rules apply broadly to qualifying Connecticut businesses.
To participate, applicants complete a pre-application through the state's portal and are then matched with a participating lender who handles underwriting and final loan terms. This structure means the DECD facilitates access but the actual loan relationship is with a private lender in the program's network.
For a small-business owner in Connecticut, this program matters because it can provide capital at a below-market fixed rate without going through a traditional bank loan process from scratch. However, because terms, open rounds, and eligibility details can shift, the state site notes this information is current as of 2026 and should be confirmed before applying. Business owners should treat the $5,000–$500,000 range and 4.5% rate as the current published terms, subject to change, and verify current availability directly with DECD or the Boost Fund page before beginning an application.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is a loan program, not a cash grant, despite being listed under funding programs — funds must be repaid.
Do I have to repay the money?
Yes, this is a working-capital loan with a fixed 4.5% interest rate, and repayment is required.
How much can I get?
Loans range from $5,000 to $500,000.
What is the interest rate?
A fixed rate of 4.5%.
Who runs this program?
The Connecticut Department of Economic and Community Development (DECD).
Who is eligible?
Connecticut small businesses and nonprofits with 100 or fewer full-time employees, under $8 million in annual revenue, and at least one year in operation.
Is this only for certain states?
Yes, it is limited to businesses operating in Connecticut.
Is there a deadline?
There is no fixed deadline listed; applicants should check current rounds on the official site.
How do I apply?
Complete a pre-application through the state's site, and you will be matched with a participating lender.
Who actually issues the loan?
A participating lender that the state matches you with, not DECD directly.
Is there a focus on specific groups of business owners?
The program highlights outreach to women, minorities, veterans, and people with disabilities, though core eligibility rules apply to all qualifying Connecticut businesses.
Is the loan amount or rate guaranteed to stay the same?
Confirm at the source, as terms are noted to be current as of 2026 and subject to change.
Is this loan taxable?
Confirm at the source; the provided facts do not address tax treatment.
Opportunity number: not published. Source: curated + verified (official state source, 2026). GetFundedUSA is independent and not affiliated with Connecticut Department of Economic and Community Development (DECD); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.