You asked what types of grants and loans are available through the Permanent Commission on the Status of Women (PCSW) and other organizations for women who want to start a small business. You also asked what types of funds are available for anyone who wants to start a small business.

SUMMARY

Through the Women’s Economic Development Initiative (WEDI), the Permanent Commission on the Status of Women (PCSW) works with women, legislators, leaders in government and the business community to create and enhance economic development opportunities for women business owners in the state. It does this by serving as a liaison between government and private interest groups concerned with services for women, promotes consideration of qualified women to governmental positions, and works with state agencies to assess programs and practices that affect women-owned businesses (C. G. S. § 46a-4). It makes no grants or loans for starting a business.

The Women’s Business Development Center (WBDC) and the Entrepreneurial Woman’s Network specialize in assisting women entrepreneurs. The WBDC offers development training, technical assistance, access to financial resources, business-to-business networking, and develops long-term partnerships with clients and the small business community. The Entrepreneurial Woman’s Network educates, mentors, and networks with women small business owners.

The University of Hartford’s Entrepreneurial Center and regional small business development centers provide counseling, training, and technical assistance to anyone who wants to start a small business. While none of these organizations provide financial assistance, they refer clients to the ones that do.

START-UP FINANCING

Several Connecticut agencies provide financial assistance to anyone who wants to start a small business. These include the nonprofit Community Economic Development Fund (CEDF) and the quasi-public Connecticut Development Authority (CDA) and Connecticut Innovations, Inc. (CII). Financing is also available from several regional non-profit corporations that administer federal Small Business Administration micro-loans. More information about these and other programs are available through the Connecticut Economic Resource Center (CERC), a non-profit corporation specializing in economic development and marketing for local, regional, state and utility economic development entities. http: //products. cerc. com/brinfo. nsf/homepagefrm?OpenForm

CEDF

CEDF makes very small fixed rate loans (i. e. , micro-loans) to people who want to start a business. It usually does so in connection with another lender under flexible repayment terms customized to meet each client’s needs.

CDA

CDA’s Urbank program offers up to $ 500,000 in financing for start-up and established small businesses. Financing includes term, working capital, and real estate loans. All applicants must successfully complete or be an active client of an entrepreneurial training program. The applicant’s business plan must also be approved by the Entrepreneurial Center.

CDA’s Entrepreneurial Assistance Loan Pool program capitalizes revolving loan pools administered by municipal and non-profit development agencies. Low-income small business owners qualify for up to $ 25,000 loans with a maximum 10-year repayment period. Loan applicants must complete a training course approved by the Department of Economic and Community Development (DECD) or participate in a

peer-lending program. The latter involves a group of entrepreneurs who receive entrepreneurial training and help each other solve problems and meet their loan payments.

CII

People starting technology-based companies with high growth potential qualify for up to $ 1 million in equity investments through CII’s Connecticut Seed Venture (CSV) program.

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