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State frees up $10 million for small business loan backlog

A pot of “gold” placed on a table at the state Bonding Commission meeting Tuesday, which also happened to be St. Patrick’s Day. (Jordan Fenster photo)
A pot of “gold” placed on a table at the state Bonding Commission meeting Tuesday, which also happened to be St. Patrick’s Day. (Jordan Fenster photo)

HARTFORD, Conn. – The release of $10 million in bonds Tuesday is expected to help alleviate a backlog in the Small Business Express Program, which was designed to help small businesses remain in Connecticut.

At a State Bond Commission meeting Tuesday, Department of Economic and Community Development Commissioner Catherine Smith said that the coffers are “down essentially to zero.”

As a result, Gov. Dannel P. Malloy said, businesses are not receiving the grants they have expected.

See the complete story at CT News Junkie.

 

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