Eligibility and Criteria

CommCap small business loans fund working capital needs, the purchase of machinery and equipment and/or new construction or rehabilitation of commercial real estate for existing small businesses, community-based organizations and start-up businesses. The minimum loan amount is $50,000 and the maximum loan amount is $500,000.

Business must meet the following criteria:

  • Job creation – the financing must create jobs in the greater Bridgeport area
  • Tax generation – the financing must produce tax revenue for the City or State
  • Neighborhood stabilization – the financing must employ residents and/or fill vacant properties in the target area or bring needed services to the neighborhood
  • Interaction with local business – the business financed should buy/sell goods/services to/from local businesses or residences
  • Not bankable at a reasonable rate
  • Collateral offered consistent with risk
  • Net personal cash flow sufficient to cover financing costs

Required Documentation

  • Completed Application with non-refundable fee
  • Personal Financial Statements of all Borrowers/Guarantors
  • Signed Federal Income Tax Returns (2years)
  • Corporate Financial Statements (2 years)
  • Corporate Tax Returns (2years)
  • Business Plan (start-up or less than one year old)
  • Projections
  • One year cash flow

*Please note that these are minimum requirements. In some cases, we have asked for or may later ask for additional information before final approval can be granted