Regional Revolving Loan Fund
190 Governor Winthrop Blvd.
New London, CT 06320
860.437.4659 ext. 204
SeCTer's various loan programs provide loans from $10,000 - $2 million and can be combined with loans provided by partners (banks, government entities, equity financing). The SeCTer loans are generally priced at lower than market fixed interest rates and have flexible terms and conditions. When combined with other sources, projects from $50,000 to $20 million have been funded. SeCTer is experienced in crafting financing strategy, working with the broader financial community and in assembling financing partners (local, state, and federal) as needed.
The funds focus on long term job creation and business expansion, the acquisition of machinery and equipment, acquisition, development and/ or improvements to owner occupied real estate, working capital and the development of new products and technology. Primary targeted industries include manufacturing, processing, fabrication, commercial fishing, marine trades and technology, particularly those that hire skilled workers; but we will consider other financing requests that meet the goal of helping businesses locate, prosper and expand in New London County. One of our funding programs, a fishermen & marine trades fund, extends to other CT coastline counties.
Priority is given to projects that maximize both skilled jobs growth and outside project funding sources, whether with equity, leasing, senior, owner or subordinated financing. Special consideration is given to defense diversification projects, dislocated workers, women and minority owned businesses, or to businesses located in, near, or assisting targeted investment communities and seCTer municipal members in good standing.
Offices are open and staffed on a full-time basis. Voice or E-mail 24 hours/7 days. For technical or financing assistance, or merely to explore preliminary ideas, we will arrange meetings with clients, off-site or on, at any convenient time.
Program Region: Bozrah, Colchester, East Lyme, Franklin, Griswold, Groton, Lebanon, Ledyard, Lisbon,Lyme, Montville, New London, North Stonington, Norwich, Old Lyme, Preston, Salem, Sprague, Stonington, Voluntown and Waterford.
Hours of operation:
Monday - Friday, 8am-5pm, and by appointment.
Contact: Ann Chambers