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Thursday, June 21, 2012

Connecticut Small Businesses Receive State Grants

Connecticut Small Business Grants
Connecticut Governor Dannel P. Malloy announced that five companies will receive business funding support as part of a state small business aid program. The state has set aside $100 million to assist qualifying companies through the Small Business Express program, established by the Connecticut Department of Economic and Community Development.

ForeSite Technologies Inc., an information technology company in East Hartford, will receive a $250,000 loan from the state and spend $425,000 for a total investment of almost $700,000 for improvements and staff expansion.

Chatham Medical Offices, LLC, a real-estate services business in East Hampton, plans to add positions and improve an existing medical office building with a $100,000 loan they will receive from the state.

A $100,000 matching grant and $250,000 loan will enable Reliable Electric Motors, Inc., an electric motor servicing company in Hartford, to add a position, buy equipment and improve its facility.

Another small business in New Haven, Globele Energy, LLC, will receive a $100,000 matching grant and $200,000 loan from the state. This energy consulting company plans to use the money to buy equipment, make improvements and invest in more advertising and marketing.

A food service consulting company in Stamford is able to roll out a new product line, thanks to a $38,750 matching grant and a $73,850 loan from the state. They also plan to buy more office equipment and add positions.

For more information, visit www.ct.gov/ecd
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