Support for Cheshire's Small Businesses

Businesses in Cheshire with fewer than 50 employees may be eligible for a number of loans or grants through the State Department of Economic and Community Development.

According to Jim Miele , chairman of the Government Relations Committee, the program is more streamlined than previous programs. "The big difference for these programs is that the application is only one page and is designed for a fast turnaround. They are trying to have the cash in company's hands in about 30 days," Miele wrote in a statement.

Businesses eligible for funding include:

• Precision manufacturing
• Business services
• Green and sustainable technology
• Bioscience 
• Information technology sectors

The maximum award amounts and programs are:

• Small Business Express Revolving Loan Fund - Loans are available at a minimum of $10,000 to a maximum of $100,000 to assist small businesses with capital and operational needs.

• Small Business Job Creation Incentive Program - Deferred loans are available at a minimum of $10,000 and a maximum of $250,000 to assist small businesses to spur growth. DECD may forgive all or part of loan based on the attainment of job creation goals.

• Small Business Creation Matching Grant Program - Grants are available at a minimum of $10,000 and a maximum of $100,000 to provide a dollar-for-dollar matching grant for specific job creation, capital investment and working capital goals.

More information may be obtained on the DECD's website and in the