The Partnership Loan Program
For Minority- and Women-Owned Businesses in Greater New Haven
The Partnership Loan Program for Minority- and Women-Owned Businesses in Greater New Haven is an innovative new loan program that provides relief and recovery resources to small businesses that have suffered disproportionate economic injury due to the COVID-19 pandemic.
Minority-owned and women-owned small businesses located in The Community Foundation's 20-town service area can apply for forgivable low-interest loans of up to $25,000. The loan program is designed to help businesses establish or repair credit, and offers business support services to help owners plan for future sustainability and growth.
HEDCO, Inc. is administering the program.
Our Commitment to Opportunity and Equity
Now more than ever, our community needs the infrastructure supports that provide access to alternative funding options previously obscured from minority and women entrepreneurs.
The Partnership Loan Program represents a crucial step forward in The Community Foundation's new strategic plan to create opportunity in neighborhoods and among communities that have historically suffered from disinvestment and exclusion. It supports the loan program through its wholly-owned and controlled subsidiary, The Community Foundation Mission Investments Company (TCF-MIC).
Small business has long been a viable vehicle for economic mobility, especially among businesses that last for at least five years. By investing in minority-owned and women-owned small businesses, TCF-MIC aims to address racial and gender disparities by creating new avenues for building wealth.
For more information, contact Arthur Thomas at 203-974-1651.