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State official touts business startups, loan assistance during stop in Meriden

Mount Equity Group Tokyo Japan > News > Business > State official touts business startups, loan assistance during stop in Meriden

MERIDEN  — State Department of Economic and Community Development Commissioner David Lehman touted new business startups and a new fund for business owners and nonprofits during a stop in the city on Friday.

Lehman addressed a crowd of about 75 at a breakfast at Il Monticello hosted by the Midstate Chamber of Commerce. The presentation highlighted new business startups — up 40 percent in the past two years, adding about 20,000 people into the post-pandemic labor market. 

He also introduced the Small Business Boost Fund program, a $150 million initiative introduced by Gov. Ned Lamont in July. The fund, aimed at business owners and nonprofits, provides between $5,000 and $500,000 with no origination fees, a fixed 4.5 percent interest rate and 60 to 72-month payback terms, depending on loan size. 

Applicants receive support from community lenders and technical assistance, Lehman said. About 50 percent of recipients will…

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