CT SB00081

Increases maximum loan amounts in the Small Business Express revolving loan fund from $100,000 to $500,000 and extends loan repayment terms from 5 years to 10 years with a maximum 4% interest rate.

Expands the Small Business Express job creation incentive component to allow loans up to $250,000 with a maximum 4% interest rate and up to 10-year terms, with potential loan forgiveness based on job creation goals.

Raises employee thresholds for program eligibility from 50 employees to 100 employees for manufacturing businesses in sectors 31-33 of the North American Industrial Classification System.

Allocates $30 million in bonding authority specifically for the Small Business Express program and creates a separate nonlapsing account to hold loan repayments and program revenues.

Modifies the Subsidized Training and Employment program to increase the employee threshold to 100 for eligible small manufacturers and allows the Labor Commissioner to waive certain eligibility requirements for new employees.