This $4.5 million Project Grant from the Department of Commerce's Economic Adjustment Assistance program will capitalize a $2.5 million revolving loan fund administered by the Southeastern Connecticut Enterprise Region Corporation (Secter). The revolving loan fund will provide access to capital for small businesses and entrepreneurs in 41 municipalities across New London, Windham, and Tolland Counties in Connecticut to aid their recovery from the impacts of the COVID-19 pandemic. By promoting job creation, private investment attraction, and economic resiliency, the revolving loan fund directly supports the goals of the Economic Adjustment Assistance program, which provides technical and financial assistance to regions facing adverse economic changes. The May 24, 2022 award will deliver these services through 2042 to foster long-term economic recovery in southeastern and northeastern Connecticut.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $2.0m | 5/24/22 |