CT SB00961

Establishes the Small Business Express program within the Department of Economic and Community Development to provide streamlined financial assistance to small businesses with not more than 100 employees, including a revolving loan fund, job creation incentive component, and matching grant component with applications processed within 30 days.

Reduces minimum loan amounts from $10,000 to $1,000 for revolving loans (maximum $100,000 at 4% interest for 10 years) and job creation incentive loans (maximum $300,000), and matching grants (maximum $100,000).

Allocates at least 10% of program funding to regional economic development agencies to review applications and award financial assistance packages, with agencies required to report annually on available data.

Establishes a CT FAST Funds program in collaboration with private sector lenders to guarantee up to 70% of loans ($10,000-$50,000) to startup businesses in municipalities with populations over 70,000, with $5 million allocated to this program.

Creates an Office of Small Business Affairs to provide procedural bidding information, maintain a comprehensive web-based directory of small business resources, and compile annual reports on assistance efforts and available programs.

Requires agencies to prepare federal deviation analyses when proposed regulations deviate from federal standards and include them in regulation-making records and committee submissions.