Contact The Community Economic Development Fund Foundation, Inc.
- Address
- 965 East Main Street Meriden, CT 06450-6006
- Phone
- 203-235-2333
Where they lend
The Community Economic Development Fund Foundation, Inc. is an SBA-approved microloan intermediary serving Connecticut.
What an SBA microloan is
The SBA does not lend directly. It funds intermediaries like The Community Economic Development Fund Foundation, Inc., who lend up to $50,000 to small businesses and start-ups that banks usually turn down. The average loan is around $13,000, terms run up to seven years, and decisions rest with the intermediary rather than the SBA.
Almost every intermediary asks for the same things: a written business plan, financial projections, what the money is for, and your credit history. The plan is where most applications stall.
Before you apply
The Community Economic Development Fund Foundation, Inc. will ask for a business plan with your application. We write SBA-ready plans built for microloan applications, with the financial projections lenders expect.
