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CT SB00659

Bill

Official Source

Status

Introduced

1/18/2023

Primary Sponsor

James Maroney

Click for details

Origin

Senate

2023 General Assembly

AI Summary

  • Department of Economic and Community Development and Department of Banking must jointly develop a website for small business loan applications
  • Eligible businesses must be open more than 6 months but less than 2 years, and be either minority-owned, women-owned, or located in a federally designated opportunity zone
  • Maximum loan amount is $150,000, with loans approved by community banks through the portal
  • State must provide credit enhancement for loans and accept first loss liability of up to 10% of each loan's value

Legislative Description

An Act Concerning The Development Of An Internet Web Site Through Which Certain Businesses May Apply For Loans From Community Banks.

Last Action

Referred to Joint Committee on Commerce

1/18/2023

Committee Referrals

Commerce1/18/2023

Full Bill Text

No bill text available