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					CONNECTICUT
                 BUSINESS
                                     RESOURCE
        SMALL




                                             Helping
                                             Small Business
                                             Start, Grow
                                             and Succeed
                                              PAGE
                                              8      Getting Started in Connecticut
                                              PAGE
                                              24     Financing Your Business
                                              PAGE
                                              36     Ideas For Growing Companies


        WWW.SBA.GOV   •   YOU R SMALL B USI N ESS R ESOU RCE
   contents
     SMALL BUSINESS
                                                                                            PR
                                                                                             ublishing
                                                                                                        ENI          150 Third Street, S.W.
                                                                                                                     Winter Haven, FL 33880-2907
                                                                                            Publishers of Small Business Resource


                                                                                             Advertising
                                                                                             Phone: 863-294-2812 • 800-274-2812
                                                                                             Fax: 863-299-3909 • www.sbaguides.com


                                                                                             Staff
                                                  2009-2010 CONNECTICUT                      President/CEO
                                                                                             Joe Jensen                   jjensen@reni.net


    FEATURES                                                                                 English Small Business Resource Advertising
                                                                                             Nicky Harvey             nharvey@reni.net

     3         Introduction                        42     Disaster Recovery
                                                                                             Martha Theriault
                                                                                             John Beward
                                                                                                                   mtheriault@reni.net
                                                                                                                     jbeward@reni.net
               • 3 Welcome Letter                         There are several types of
                                                          assistance available to
               • 4 Director’s Message
                                                          qualified applicants.

     8         Getting Started                     43     Advocacy
                                                                                             SBA’s Marketing Office:
                                                                                             The Small Business Resource Guide is published
                                                          Find out about the outside         under the direction of SBA’s Office of Marketing and
               Everything you need to know
                                                                                             Customer Service.
               about setting up, marketing                research for the small business
                                                          owners.                            Director
               and managing the revenue of
                                                                                             Laura Fox            laura.fox@sba.gov
               your business.
                                                   44     Other Sources of                   Editorial Content
                                                                                             Robert Dillier    robert.dillier@sba.gov
                                                          Assistance
     15        Regulations                                Chambers of Commerce can be
                                                                                             Graphic Design
                                                                                             Gary
               Common requirements that                   a vital resource for the small     Shellehamer gary.shellehamer@sba.gov
                                                          business owner.
               affect small businesses.                                                      SBA’s participation in this publication is not an
                                                                                             endorsement of the views, opinions, products or
                                                   45     Lender Listing                     services of the contractor or any advertiser or other
     24        Getting Approved                                                              participant appearing herein. All SBA programs and
                                                                                             services are extended to the public on a
               Financing Options                                                             nondiscriminatory basis.

               to Start or Grow Your Business.                                               Printed in the United States of America

                                                                                             While every reasonable effort has been made to
     36        Small Business                                                                ensure that the information contained herein was
                                                                                             accurate as of the date of publication, the information
               Training Network                                                              is subject to change without notice. Neither the
                                                                                             contractor, the federal government, or agents thereof




             5
               Find out how and where the                                                    shall be held liable for any damages arising from the
                                                                                             use of or reliance on the information contained in this
               SBA can help your business grow.                                              publication.

     37        Contracting Opportunities
               SBA is working to ensure small
                                                    “Everything you need to know             SBA Pubicatiion # MCS-0018

                                                                                             This publication is provided under SBA Contract
               businesses obtain fair share of
                                                        about setting up, marketing          # SBAHQ05C0014.
               government contracts and                 and managing the revenue of
               subcontracts with a number
               of programs.
                                                        your business.  ”

                                 Ways To Evaluate Your
                                 Strengths and Weaknesses
                                                                               Page 9
2 — Small Business Resource   CONNECTICUT                                                                                Visit us online: www.sba.gov/ct
                                              The U.S. Small Business Administration

                                                             WELCOME

         merica is a country of entrepreneurs. It was                      This resource guide is your roadmap to all of our

A        built by entrepreneurs, and over the years, our
         economy has grown on the strength of our
entrepreneurs. America has an economy that
                                                                           valuable products and services. We hope that you’ll
                                                                           read it closely; the SBA team has worked hard to
                                                                           ensure the information here is useful and up to date.
regenerates, is flexible, and adapts to opportunity.                       In addition, we encourage you to visit your local SBA
And this is due in large part to the entrepreneurial                       District Office, which is a great portal to SBA
spirit and drive of small business owners like you.                        assistance and can help you start and grow your
                                                                           business.
The U.S. Small Business Administration plays a vital
role in enabling America’s entrepreneurs and small                         Entrepreneurs and small business owners will
business owners. Some of America’s corporate icons,                        continue to drive our economy, and the SBA and our
in fact, received some help from SBA along the way –                       network of resource partners will continue to enable
companies like Intel, Apple, Staples, FedEx, Nike, and                     their success. In the pages of this resource guide, you’ll
Under Armour, to name a few.                                               be able to find important information about all of the
                                                                           products and services that the SBA offers to help you.
Through our wide array of services – loan guaranties,
assistance for small businesses in federal contracting,                    Running your own business is challenging: the hours
and business counseling – the SBA has helped                               are long and the demands are high. But it is also
millions of entrepreneurs start and grow their small                       rewarding. As you work to realize your small business
businesses. The agency continues to expand our                             dreams, we hope that you’ll keep in mind all that SBA
support for small businesses. We currently guarantee                       can offer, and let us help you succeed.
more than $75 billion in loans and investments; our
resource partners’ network of more than 1,500 centers
provide counseling to more than 1 million
entrepreneurs every year; and we helped small
businesses secure close to $80 billion in prime federal
contracts.




    About the SBA
    www.sba.gov
    Your Small Business Resource
    Every day, the U.S. Small Business Administration and its nationwide      • Growing a Business
    network of partners help millions of potential and current small          • Opportunities in Contracting
    business owners start, grow and succeed.                                  • Recovering From Disaster
                                                                              • A Voice for Small Business in Government
    Resources and programs targeting small businesses provide an
    advantage necessary to help small businesses effectively compete in    Visit SBA online at www.sba.gov for 24/7 access to small business
    the marketplace and strengthen the overall U.S. economy.               news, information and training for entrepreneurs.

    SBA offers help in the following areas:                                All SBA programs and services are provided on a nondiscriminatory
      • Starting a Business                                                basis.
      • Financing a Business


Visit us online: www.sba.gov/ct                                                                             CONNECTICUT Small Business Resource —   3
                                                                                   Rules For Success
                                                        Message From The District Director


CONNECTICUT
SBA Staff Listing
www.sba.gov/ct                                                                    Sustaining and Growing in Challenging Times

District Director             Lorraine Green
Bernard M. Sweeney            860-240-4890

                                                                         elcome to the 2009-               services provided directly by the SBA and
860-240-4670                  Lorraine.Green@sba.gov

                                                                                                           those of our partners we are here to assist



                                                        W
Bernard.Sweeney@sba.gov
                                                                         2010 edition of the SBA
                                                                                                           existing and prospective business owners find
                              Edie Moccia
                                                                         Connecticut District Office
                                                                                                           the advice, technical assistance, access to
Deputy District Director      860-240-4671

                                                                         Small Business Resource
Greta Johansson               Edie.Moccia@sba.gov
                                                                                                           government purchasing markets and capital
                                                                         Guide. This guide will
860-240-4672
Greta.Johansson@sba.gov       Lisa Powell
                                                                                                           needed for sustenance and growth.
                              860-240-4892              provide you with a quick reference to the              We work closely with our partner
                                                        tools and resources required to start, manage      agencies of the CT Department of
District Counsel              Lisa.Powell@sba.gov

                                                        and grow your business in Connecticut.             Economic and Community Development,
Kenneth Hayden

                                                            Whether your needs include access to           the Connecticut Economic Resource Center
860-240-4889                  Jessica Rivera

                                                        capital, technical or management assistance        and the Connecticut Development
Kenneth.Hayden@sba.gov        860-240-4638

                                                        or finding out how to do business with the
                              Jessica.Rivera@sba.gov
Business Development                                                                                       Authority to accomplish this task and deliver
Julio Casiano                 Stephanie Scott           federal or state government and commercial         services to business owners in a convenient
                                                        markets, the Connecticut Small Business            and timely manner. Through the seven
860-240-4896                  860-240-4637

                                                        Resource Guide can direct you in the process       SCORE chapters, the Small Business
Julio.Casiano1@sba.gov        Stef.Scott@sba.gov

                                                        with information about programs and                Development Center and the Women’s
                                                        services available to you.                         Business Centers a network of experienced
Hugh Curley                   William Tierney

                                                            It is SBA’s mission to help entrepreneurs      and trained business professionals are
860-240-4650                  860-240-4894

                                                        like you to realize your potential as successful
Hugh.Curley@sba.gov           William.Tierney@sba.gov
                                                                                                           available with the sole focus of finding
                                                        small business owners. We at the                   solutions to help you and your business
                                                        Connecticut District Office take pride in our      succeed.
                                                        work, particularly when it empowers you to             The SBA takes pride in knowing that our
                                                        turn your business ideas into reality. We feel     federal and state assistance work together to
  DID YOU KNOW                                          that each successful business in Connecticut       help ensure the future of small business in
                                                        contributes to Connecticut’s prosperity, not       Connecticut is a bright one.               The
                                                        only for the company’s owners and                  opportunity to start and grow your own
  The Connecticut District Office serves
  the state with a variety of small                     employees, but also for the community as a         business is open to all of Connecticut’s
  business programs and services. In                    whole. America is a nation of communities          citizens and to businesses desiring to relocate
  fiscal year 2008, the District Office,                bound by shared values. Connecticut is a           to Connecticut.
                                                        state that is working hard to help small               As the SBA District Director for the state
                                                        business grow; our mission is to help small        of Connecticut, I welcome you. I invite you
  together with our resource partners,
                                                        business flourish and thrive in Connecticut.       to look over this Small Business Resource
  provided approximately 13,900
  people with training and counseling                       The character and courage of                   Guide and see what Connecticut has to offer
  on a range of business development                    Connecticut’s small business owners help           you. I look forward to assisting you with all
  topics. Additionally, we approved                     ensure their businesses continue to survive        your small business needs.
                                                        and prosper. Generations upon generations
                                                        of family owned businesses continue to pass
  over 800 loan guaranties for over
                                                        on that spirit of entrepreneurship and
  $183.5 million in capital for small                                                                      Sincerely,
  business start-up and expansion and                   commitment to produce the highest quality
  saw 26 disaster loans approved                        of products and services world wide.
  totaling more than $1.2 million for                       In challenging economic times it is
                                                        imperative that Small Businesses within
                                                        Connecticut have access to the support
  the two declared disasters in                                                                            Bernard W. Sweeney
                                                        systems needed to strengthen their financial
  Connecticut during fiscal year of
                                                                                                           District Director of
  2008.                                                 foundation as a part of our local, state and       SBA's Connecticut District Office
                                                        national economic recovery. Through the



4 — Small Business Resource   CONNECTICUT                                                                                        Visit us online: www.sba.gov/ct
  Doing Business in Connecticut
                                                                                                                       The SBA helps business
                                                                                                                       owners grow and expand
                                                                                                                       their businesses every day.




THE CONNECTICUT DISTRICT OFFICE                              Free counseling, advice and information                 A    Women's     Business  Ownership
The Connecticut District Office is                           on starting, improving operations, or                   Representative is available to assist
responsible for the delivery of SBA's many                   expanding a small business through the                  women business owners. Please contact
programs and services. The District                          Counselors to America’s Small Business                  Edie Moccia at 860-240-4671 or email:
Director is Bernard M. Sweeney. The                          (SCORE), the Connecticut Small Business                 edie.moccia@sba.gov
District Office is located at 330 Main                       Development Centers (CSBDC) and
Street, 2nd Floor, Hartford, CT 06106.                       Women's Business Centers (WBC). They                    Special loan programs are available for
Office hours are from 8:00 AM until 4:30                     also conduct training events throughout                 businesses involved in international trade.
PM, Monday through Friday.                                   the state - some require a nominal
                                                             registration fee.   A Veterans Affairs Officer is available to
                                                                                 assist veterans. Please contact William C.
SERVICES AVAILABLE
                                         Assistance to businesses owned and Tierney at 860-240-4894 or e-mail:
Financial assistance for new or existing
                                         controlled by socially and economically william.tierney@sba.gov.
businesses through guaranteed loans
                                         disadvantaged individuals through the
made by SBA lenders throughout the
                                         Business Development Program.
state.



                                  SUCCESS STORY                                                                       We Welcome Your
                                                                                                                      Questions
                                  2008 Connecticut Small Business Person of the Year
                                                                                                                      For extra copies of this publication or
                                  Bill Englert                                                                        questions please contact:
                                  City True Value Hardware
                                  Bristol, CT 06010
                                                                                                                      Connecticut District Office
                                                                                                                      330 Main Street, 2nd Floor
In 1989 after accepting an early retirement as the           delivering the right tool for the right jobs of his      Hartford, CT 06106
doors of General Motors New Departure Hyatt                  customers using True Value’s vast merchandising
plant closed in Bristol, Bill Englert was at a               program.
crossroad. He considered opening a business of
                                                                                                                      Tel.: 860-240-4700 Fax: 860-240-4659
his own or purchasing a local business that might            In short order the word of quality service and fair
provide him the opportunity to use his skills                prices provided enough success that it enabled           Website: www.sba.gov/ct
developed through over twenty years in the                   Bill to double his leased space in 1991 to 3,000 sq.
manufacturing field.                                         ft. and add a full service paint shop to
                                                             compliment the thriving hardware business.
Shortly after reaching his point of decision, Bill           Soon homeowners were joined by the ranks of
found a distressed Hardware store available                  the professional painters who saw first hand
which occupied approximately 1,500 square feet               Bill’s commitment to customer service each and
of space on a very busy Route 6 in Bristol, CT. Bill         every day. At the same time Bill was joined by his
used the skills he had developed as a foreman to             son, Joe and daughter Diane who remain with
forge relationships with True Value which                    the company today and have both expanded to
supported him and thereby enabled him to                     management and operations of the growing
provide better service to his customers. With                facility.
limited quarters, Bill grew adept at finding and

                                                                                              continued on page 46


Visit us online: www.sba.gov/ct                                                                                                CONNECTICUT Small Business Resource —   5
                                                        MESSAGES

                              Message From Commissioner Joan McDonald
                              State of Connecticut
                              Department of Economic and Community Development




       T
               oday’s global economic slowdown is creating a         Business owners need to know where they can turn for
               challenging environment for Connecticut               information and advice. This publication shows them
               businesses. Already mired in a housing and            where.
               credit slump, climbing unemployment threatens
               to exacerbate the tenuous situation we’re facing.     DECD, the lead state agency for business development, is
       The state ended 2008 with a 7.1 percent jobless rate, a       constantly looking for opportunities to raise awareness
       mark it hasn’t reached since the early 1900s.                 about the tools available to small business owners and
                                                                     committed to developing partnerships that support this
       Although 2009 portends to be a challenging year, there is     objective.
       an important distinction we can make from the recession
       in 1990-91. Connecticut’s employment base is                  For example, DECD is working with local chambers of
       considerably more diversified now.                            commerce and the SBA, among other sponsors, on an
                                                                     aggressive outreach campaign called Connecticut’s
       That, in part, can be attributed to the health of our small   Business Connection. DECD assembled a team of
       businesses. We understand what an important impact            business advisors from many different economic
       they have on our economy. Small businesses are the            development organizations to attend regional
       lifeblood of entrepreneurship, advancement, and job           informational sessions. These sessions are designed to
       growth.                                                       provide Connecticut business owners with direct access
                                                                     to the many state and federal resources available to
       Connecticut is home to innovation, with world-                support them.
       renowned universities and top-tier companies leading
       the way. The state’s strong capacities in research and        We’ve held four sessions throughout the state so far and
       development, especially in high-tech industries, are          all have been widely successful. Outreach of this kind
       spurring advancements that will fuel our economy and          will continue to be a top priority throughout 2009.
       lead to our eventual recovery.
                                                                     The Small Business Resource Guide complements these
       That’s why it is so vitally important that we ensure future   efforts. DECD invites you to look through this resource
       growth opportunities and assist these businesses in           and see all that Connecticut has to offer. We look forward
       reaching their full commercial potential. The 2009 Small      to doing business with you.
       Business Resource Guide. offered by the SBA’s
                                                                     Sincerely,
       Connecticut District Office, can be instrumental to our
       efforts.                                                      Joan McDonald
                                                                     Commissioner,
                                                                     Department of Economic and Community Development
                                                                     Chair, Connecticut Innovations




6 — Small Business Resource   CONNECTICUT                                                                        Visit us online: www.sba.gov/ct
                                                     INTRODUCTION

                          GETTING STARTED
                    The SBA Can Help You Start And Expand Your Own Business
                                                                                               counselors with clients in need of expert
                                                                                               advice. SCORE has experts in virtually
                                                                                               every area of business management and
                                                                                               maintains a national skills roster to help
                                                                                               identify the best counselor for a particular
                                                                                               client. Volunteer counselors, whose
                                                                                               collective experience spans the full range of
                                                                                               American       enterprise,     share      their
                                                                                               management and technical expertise with
                                                                                               both current and prospective small
                                                                                               business owners.
                                                                                                  Most SCORE volunteers are retired
                                                                                               business owners or managers, though
                                                                                               some members are still actively employed.
                                                                                               Volunteers work in or near their home
                                                                                               communities providing management
                                                                                               counseling and training to first-time
             very day, the U.S. Small          www.sba.gov/services/        and     choose



E
                                                                                               entrepreneurs and current small business
             Business Administration and its   “Women’s Business Centers from the              owners. They meet with clients at a SCORE
             nationwide network of resource    “Counseling & Assistance” heading at the        chapter office, an SBA office or at the client's
             partners help millions of         bottom.                                         place of business.
             potential and current small          These professionals can also help with          Every effort is made to match a client's
business owners start, grow and succeed.       writing a formal business plan, locating        needs with a counselor who is experienced
   Whether your target market is global or     sources of financial assistance, managing       in a comparable line of business. All
just your neighborhood, the SBA and its        and expanding your business, finding            individual and team counseling is free;
resource partners can help at every stage of   opportunities to sell your goods or services    there may be a nominal fee for workshops
turning your entrepreneurial dream into a      to the government, recovering from              and seminars.
thriving business.                             disaster or acting as advocates for small          Through in-depth counseling and
   If you’re just starting, the SBA and its    businesses with Congress and regulatory         training,    SCORE       volunteers        help
resources can help you with loans and          agencies.                                       prospective and established small business
business management skills. If you’re                                                          owners and managers identify problems,
                                                                                               determine the causes and find solutions.
already in business, you can use the SBA’s
resources to help manage and expand your
                                               SBA’S RESOURCE PARTNERS                            Any small business can obtain help from
business, obtain government contracts,         SCORE                                           SCORE. Whether you are considering
                                                                                               starting your own business, have a
recover from disaster, and have your voice     SCORE is a 10,500-member volunteer
heard in the federal government.                                                               business that is experiencing problems, are
                                               nonprofit association which operates
   You can access SBA help online 24 hours                                                     ready to expand, or need some other type
                                               under cooperative agreement with the U.S.
a day at www.sba.gov or visit one of our                                                       of advice, SCORE can help. The approach is
                                               Small Business Administration. SCORE,
local offices for assistance.                                                                  confidential and personal. You don't need
                                               with more than 40 years experience
                                                                                               to be applying for or have an SBA loan to
                                               helping small businesses succeed,
Where To Go To Get Started                                                                     participate in the program. In fact, an idea
                                               matches volunteer business-management
   Our resources include the SBA’s district                                                    is all that is necessary; consultation and
offices serving every state and territory,
nearly 400 chapters of SCORE – Counselors
                                                                                          • You get to be your own boss.
to America’s Small Businesses, 885 Small
Business Development Centers and                                                          • Hard work and long hours directly benefit you, rather
approximately 114 Women’s Business                ON THE UPSIDE                             than increasing profits for someone else.
Centers located across the country. More                                                  • A new venture is exciting.
information about SCORE, SBDCs and the            It’s true, there are a lot of reasons
                                                  not to start your own business. But
WBCs is detailed later in this publication,                                               • Earnings and growth potential are far less limited.
                                                  for the right person, the advantages
or you can click on www.score.org,
                                                  of business ownership far outweigh      • Running a business will provide endless
http://www.sba.gov/aboutsba/sbaprograms/s         the risks.                                variety, challenge and opportunities to learn.
bdc/index.html      for     SBDCs      or

8 — Small Business Resource   CONNECTICUT                                                                                   Visit us online: www.sba.gov/ct
                                           counseling before a business start-up is an   SCORE SATELLITE OFFICES
   EVALUATE                                important part of SCORE's service.
                                           SCORE can also be found on the Internet at    Avon SCORE
                                                                                            Avon Free Public Library
                                           www.score.org. The Internet makes it
                                                                                            281 Country Club Rd.
   Start by evaluating your                possible to reach more small business
                                           clients with online mentoring and
                                                                                            Avon, CT 06001
                                                                                            860-673-9712
   strengths and weaknesses                counseling.
                                                                                         Bloomfield SCORE
                                              Business owners use the Web to fulfill
                                           their needs for information and advice.          Chamber of Commerce
                                           SCORE is primed to meet their requests for       330 Park Ave.
                                                                                            Bloomfield, CT 06002
                                           help by offering e-mail counseling, maps to      860-242-3710
                                           local SCORE chapters, hotlinks to other
   1. Are you a self-starter?              business resources on the Internet and        Bristol SCORE
      It will be up to you – not           more at the click of a mouse. E-mail             Chamber of Commerce
      someone else telling you – to        counseling is provided by the Cyber-             200 Main St., 1st Fl.
                                           chapter, which now includes more than            Bristol, CT 06010
      develop projects, organize your                                                       860-584-4718
      time and follow through on           1,200 online members. You can choose from
                                           almost 800 unique skills to find the          Canton SCORE
      details.
                                           cybercounselor who best suits your               Canton Public Library
                                           individual needs, including special              40 Dyer Ave.
   2. How well do you get along            counseling for veterans, service-disabled        Canton, CT 06019
      with different personalities?        veterans and Reserve component                   860-693-5800
      Business owners need to develop      members. SCORE also offers more than 30       Cheshire SCORE
      working relationships with a         online training workshops on topics for          Chamber of Commerce
      variety of people including          small businesses. Log on to SCORE's              195 S. Main St.
                                           Internet site at www.score.org to take           Cheshire, CT 06410
      customers, vendors, staff,                                                            203-272-2345
                                           advantage of the many services SCORE has
      bankers, lawyers, accountants and    to offer your business.
      consultants. Can you deal with a     Greater Bridgeport SCORE Chapter              Enfield SCORE
                                              University of Bridgeport                      American Eagle Federal Credit Union
      demanding client, an unreliable                                                       201 Elm St.
                                              Mandeville Hall, Rm. 2
      vendor or a cranky staff person?        230 Park Ave.                                 Enfield, CT 06082
                                              Bridgeport, CT 06601                          860-749-3465
   3. How good are you at making              203-576-4369                               Farmington SCORE
      decisions?                           Danbury SCORE Chapter
                                                                                            Farmington Public Library
                                                                                            6 Monteith Dr., Rte. 4
      Small business owners are               Western CT SCORE                              Farmington, CT 06032
      required to make decisions              City Hall, 155 Deer Hill Ave.                 860-673-6791
                                              Danbury, CT 06810
      constantly, often quickly, under        203-794-1404                               Gales Ferry SCORE
      pressure.                                                                             Chamber of Commerce of Eastern
                                           Fairfield County SCORE                           Connecticut
                                              24 Belden Ave., 5th Fl.                       39 Kings Hwy./P.O. Box 726
   4. Do you have the physical and            Norwalk, CT 06850                             Gales Ferry, CT 06335
      emotional stamina to run a              203-847-7348                                  860-464-7373
      business?
                                           Greater Hartford SCORE Chapter                Glastonbury SCORE
      Business ownership can be               330 Main St., 2nd Fl.                         Chamber of Commerce
      challenging, fun and exciting. But      Hartford, CT 06106                            2400 Main St.
      it’s also a lot of hard work. Can       860-240-4700                                  Glastonbury, CT 06033
                                                                                            860-659-3587
      you face 12-hour workdays six or     Greater New Haven SCORE Chapter
      seven days a week?                      Gateway Community College                  Guilford SCORE
                                              60 Sargent Dr., Rm. 207 A                     Guilford Chamber of Commerce
                                              New Haven, CT 06511                           60 Whitfield Ln.
   5. How well do you plan and                203-865-7645                                  Guilford, CT 06437
      organize?                                                                             203-453-9677
      Research indicates many              Northwest CT SCORE Chapter
                                              Northwest Chamber of Commerce              Madison SCORE
      business failures could have been       333 Kennedy Dr.                               Memorial Town Hall, 2nd Fl.
      avoided through better planning.        Torrington, CT 06790                          12 School St., Boston Post Rd.
                                              860-482-6586                                  Madison, CT 06443
      Good organization – of financials,                                                    860-388-9508
      inventory, schedules, production     Southeastern CT SCORE Chapter
      – can help avoid pitfalls.              Chamber of Commerce
                                                                                         Manchester SCORE
                                                                                            Chamber of Commerce
                                               665 Boston Post Rd./P.O. Box 283
                                                                                            20 Hartford Rd.
                                              Old Saybrook, CT 06475
                                                                                            Manchester, CT 06040
                                              860-388-9508
                                                                                            860-646-2223

Visit us online: www.sba.gov/ct                                                                  CONNECTICUT Small Business Resource —   9
Middletown SCORE                             Waterbury SCORE                                  The Connecticut CSBDC is hosted by the
    Chamber of Commerce                         Silas Bronson Library                       State University System, with headquarters
    393 Main St.                                267 Grand St.                               at Central Connecticut State University.
    Middletown, CT 06457                        Waterbury, CT 06702
    860-347-6924                                203-574-8225 • 203-574-8233 Fax             Visit www.ccsu.edu/sbdc for updates and
                                                                                            other information.
Milford SCORE                                West Hartford SCORE                            CT Small Business Development Center
    Milford Chamber of Commerce, Inc.           Chamber of Commerce                         State Offices
    5 N. Broad St.                              948 Farmington Ave.                             Central Connecticut State University
    Milford, CT 06460                           West Hartford, CT 06107                         Connecticut Small Business Development
    203-878-0681                                860-521-2300                                    Center
                                                                                                Ginne Rae Clay-Gilmore, State Director
Mystic SCORE                                 Windsor SCORE                                      185 Main St.
    Mystic Chamber of Commerce                  Windsor Chamber of Commerce                     New Britain, CT 06051
    14 Holmes St.                               261 Broad St.                                   860-832-0650 • 860-832-0656 Fax
    Mystic, CT 06355                            Windsor, CT 06095
    860-388-9508                                860-688-5165                                OTHER LOCATIONS:
                                                                                            Department of Economic &
New Britain SCORE
    Chamber of Commerce
                                             SMALL BUSINESS                                 Community Development
    1 Court St., Rm. 207 A
    New Britain, CT 06051
                                             DEVELOPMENT CENTERS                                505 Hudson St., Fl. 2
                                                                                                Hartford, CT 06106
    860-229-1665                                Small Business Development Centers              860-270-8178 office
                                             meet the needs of small businesses and             860-982-8339 cell
New Milford SCORE                            promote economic development in local
    New Milford Library                      communities by helping to create and           ECSU Business Development Center
    24 Main St.                                                                                 Eastern Connecticut State University
                                             retain jobs. Partially funded by a                 83 Windham St.
    New Milford, CT 06776
    860-355-1191, Reference Desk
                                             cooperative agreement with SBA, SBDC’s             Willimantic, CT 06226
                                             goals are focused on providing long-term           860-465-5140 office
Newington SCORE                              counseling to clients to help them grow
    Chamber of Commerce                      successful businesses. The SBDC network        SCSU Business Development Center
    1046 Main St.                                                                               Southern Connecticut State University
                                             provides counseling and training to more           501 Crescent St.
    Newington, CT 06111
    860-666-2089                             than 550,000 existing businesses or start-up       New Haven, CT 06515
                                             business clients annually.                         203-392-5196 office
Norwich SCORE                                   SBDCs assist with development of
    Dime Bank                                                                               WCSU Business Development Center
                                             business plans, provide manufacturing,
    290 Salem Turnpike                                                                          Western Connecticut State University
    Norwich, CT 06360                        financial packaging, contracting and               181 White St.
    860-388-9508                             international trade assistance. Special            Danbury, CT 06810
                                             emphasis areas include e-commerce,                 203-837-3268 office
Shelton SCORE                                technology transfer, IRS, EPA and OSHA
    Greater Valley Chamber
    900 Bridgeport Ave.
                                             regulatory compliance, research and            WOMEN’S BUSINESS
                                             development, Defense Economic Transition
    Shelton, CT 06484
    203-926-9756                             Assistance, disaster recovery assistance and   CENTERS
                                             market research. SBDCs also provide               The SBA’s Women Business Centers are a
Simsbury SCORE                               special assistance to veterans and help with   nationwide network of 114 community-
    Simsbury Library                         energy efficiency under new program            based centers that provide business
    725 Hopmeadow St.                                                                       training, counseling, mentoring and other
                                             initiatives. Based on client needs, SBDCs
    Simsbury, CT 06070
    860-658-7663                             tailor their services to meet the evolving     assistance geared to women, particularly
                                             needs of the local small business              those who are socially and economically
Torrington SCORE                             community.                                     disadvantaged. To meet the needs of
    Northwest Connecticut                       SBDCs deliver management and                women entrepreneurs, the WBCs offer their
    Chamber of Commerce                      technical assistance to prospective and        services at convenient times and locations.
    333 Kennedy Dr.                                                                         Some offer child care during training and
    Torrington, CT 06790                     existing small businesses using an effective
    860-482-6586                             business education network of 63 lead          many provide assistance and materials in
                                             centers and 885 service-center locations       different languages, depending on the
Vernon SCORE                                 contracted to manage a broad-based SBDC        needs of the individual communities they
    Tolland County Chamber of Commerce       program. SBDCs are located throughout          serve. Classes are either free or offered at a
    30 Lafayette Sq.                                                                        small fee, and scholarships are often
                                             the U.S., District of Columbia, Guam,
    Vernon, CT 06066
    860-872-0587                             American Samoa, Puerto Rico and the U.S.       available to those who need them. A
                                             Virgin Islands.                                number of WBCs also provide courses and
Wallingford SCORE                               For more information, visit the Web site    counseling via the Internet, mobile
    Chamber of Commerce                      at: www.sba.gov/aboutsba/sbaprograms/          classrooms and satellite locations.
    100 S. Turnpike Rd.                      sbdc/ index.html.                                 Both SBA district offices and women’s
    Wallingford, CT 06492                                                                   business centers often offer mentoring
    203-269-9891


10 — Small Business Resource   CONNECTICUT                                                                          Visit us online: www.sba.gov/ct
roundtables. If there is not an existing                                                                     inventory, schedules, and production —
roundtable nearby, women’s business
centers may be able to help women
                                                         WEBSITE                                             can help you avoid many pitfalls.
                                                                                                           • Is your drive strong enough? Running a
                                                                                                             business can wear you down emotionally.
entrepreneurs set them up.                                Business plan help                                 Some business owners burn out quickly
  To find the nearest SBA women’s                                                                            from having to carry all the responsibility
business ownership representative or                The nearest SCORE chapter can be                         for the success of their business on their
women’s business center, and to learn more          located at: www.score.org.                               own shoulders. Strong motivation will
about SBA programs and services, visit the          For business plan help at the SCORE Web                  help you survive slowdowns and periods
Office of Women’s Business Ownership at             site, click on “Business Tools” from the left-hand       of burnout.
                                                    menu, then click on “Template Gallery.”                • How will the business affect your
www.sba.gov/women.                                                                                           family? The first few years of business
                                                    You can find the           nearest   VBOC      at:       start-up can be hard on family life. It's
ARE YOU RIGHT FOR SMALL                             www.sba.gov/vets.                                        important for family members to know
                                                                                                             what to expect and for you to be able to
BUSINESS OWNERSHIP?                                 To find WBCs, click on: www.sba.gov/services/
                                                                                                             trust that they will support you during
   Most new business owners who succeed                                                                      this time. There also may be financial
                                                    and choose “Women’s Business Centers” from the           difficulties until the business becomes
have planned for every phase of their               “Counseling and Assistance” heading at the               profitable, which could take months or
success. Thomas Edison, the great                   bottom.                                                  years. You may have to adjust to a lower
American inventor, once said, “Genius is 1                                                                   standard of living or put family assets at
percent inspiration and 99 percent                  You can also find business-plan help on the SBA’s        risk in the short-term.
perspiration.” That same philosophy also            Web site at:                                           Once you’ve answered those questions,
applies to starting a business.                     http://www.sba.gov/smallbusinessplanner/             you should consider what type of business
   First, you’ll need to generate a little bit of   then choose “Writing a Business Plan” from the       you want to start.
perspiration deciding whether you’re the            “Plan Your Business” menu along the bottom.
right type of person to start your own
business.                                             • How well do you plan and organize?
                                                                                                         FRANCHISING
                                                        Research indicates that poor planning is           There are more than 3,000 franchised
                                                        responsible for most business failures.          businesses. The challenge is to decide on
IS ENTREPRENEURSHIP FOR                                 Good organization — of financials,
YOU?
   TIn business, there are no guarantees.
There is simply no way to eliminate all the
risks associated with starting a small
business - but you can improve your
chances of success with good planning,
preparation, and insight. Start by
evaluating your strengths and weaknesses
as a potential owner and manager of a
small business. Carefully consider each of
the following questions:
   • Are you a self-starter? It will be entirely
     up to you to develop projects, organize
     your time, and follow through on details.
   • How well do you get along with
     different       personalities? Business
     owners need to develop working
     relationships with a variety of people
     including customers, vendors, staff,
     bankers, and professionals such as
     lawyers, accountants, or consultants. Can
     you deal with a demanding client, an
     unreliable vendor, or a cranky
     receptionist if your business interests
     demand it?
   • How good are you at making
     decisions? Small business owners are
     required to make decisions constantly -
     often quickly, independently, and under
     pressure.
   • Do you have the physical and
     emotional stamina to run a business?
     Business ownership can be exciting, but
     it's also a lot of work. Can you face six or
     seven 12–hour workdays every week?



Visit us online: www.sba.gov/ct                                                                                  CONNECTICUT Small Business Resource —   11
one that both interests you and is a good       easy as it seems. It’s important to work in a    partners, such as SCORE, SBDCs and
investment. Many franchising experts            professional environment. One suggestion         WBCs can help make the process easier.
suggest that you comparison shop by             is to set up a separate office in your home to
looking at multiple franchise opportunities
before deciding on the one that's right for
                                                create this professional environment.
                                                                                                 WRITING A BUSINESS PLAN
you.                                            Ask yourself:                                       After you’ve thought about what type of
   Some of the things you should look at          • Can I switch from home responsibilities      business you want, the next step is to
when evaluating a franchise: profitability,         to business work?                            develop a business plan. Think of the
                                                  • Do I have the self-discipline to maintain    business plan as a roadmap with
effective financial management and other            schedules?
controls, a good image, integrity and                                                            milestones for the business. It begins as a
                                                  • Can I deal with the isolation of working
commitment, and a successful industry.                                                           pre-assessment tool to determine
                                                    from home?
   In the simplest form of franchising, while     • Am I a self-starter?                         profitability and market share, then
you own the business, its operation is                                                           expands as an in-business assessment tool
governed by the terms of the franchise          Finding Your Niche                               to determine success, obtain financing and
agreement. For many, this is the chief            Choosing a home business must be               determine repayment ability, among other
benefit for franchising. You are able to        approached carefully.                            factors.
capitalize on a business format, trade name,                                                        Creating a comprehensive business plan
trademark and/or support system                 Ask yourself:                                    can be a long process, and you need good
provided by the franchisor. But you operate       • Does my home have the space for a            advice. The SBA and its resource partners,
                                                    business?                                    including Small Business Development
as an independent contractor with the             • Can I identify and describe the business I
ability to make a profit or sustain a loss                                                       Center, Veterans Business Outreach
                                                    want to establish?
commensurate with your ownership.                                                                Centers, SCORE and Women’s Business
                                                  • Can I identify my business product or
   If you are concerned about the risk              service?                                     Centers, have the expertise to help you craft
involved in a new, independent business           • Is there a demand for that product or        a winning business plan.
venture, then franchising may be the best           service?                                        In general, a good business plan
business option for you. Remember that
                                                  • Can I successfully run the business from     contains:
                                                    home?
hard work, dedication and sacrifice are key                                                      Introduction
elements in the success of any business         Legal Requirements                                 • Give a detailed description of the
venture, including franchising.                                                                      business and its goals.
                                                   A home-based business is subject to             • Discuss ownership of the business and its
   For more information visit the SBA Web       many of the same laws and regulations                legal structure.
site at: http://www.sba.gov/smallbusiness       affecting other businesses.                        • List the skills and experience you bring to
planner/start/ and click on “Buy a              Some general areas include:                          the business.
Franchise” from the menu on the right side        • Zoning regulations. If your business           • Discuss the advantages you and your
or call your local SBA office.                      operates in violation of them, you could         business have over competitors.
                                                    be fined or shut down.
                                                  • Product restrictions. Certain products       Marketing
HOME-BASED BUSINESSES                               cannot be produced in the home. Most           • Discuss the products and services your
   Going to work used to mean traveling             states outlaw home production of                 company will offer.
from home to a plant, store or office. Today        fireworks, drugs, poisons, explosives,         • Identify customer demand for your
                                                    sanitary or medical products and toys.           products and services.
many people do some or all their work at
                                                    Some states also prohibit home-based           • Identify your market, its size and
home.                                               businesses from making food, drink or            locations.
   Garages, basements and attics are being          clothing.                                      • Explain how your products and services
transformed      into     the      corporate       Be sure to consult an attorney and your           will be advertised and marketed.
headquarters of the newest entrepreneurs –      local, city and state departments of labor to      • Explain your pricing strategy.
home-based business owners.                     find out which laws and regulations will
                                                affect your business. Additionally, check on     Financial Management
Getting Started                                 registration and accounting requirements           • Develop an expected return on
   Before diving headfirst into a home-                                                              investment and monthly cash flow for the
                                                needed to open your home-based business.             first year.
based business, you must know why you            You may need a work certificate or license        • Provide projected income statements, and
are doing it. To succeed, your business         from the state. Your business name may               balance sheets for a two-year period.
must be based on something greater than a       need to be registered with the state. A            • Discuss your break-even point.
desire to be your own boss. You must plan       separate business telephone and bank               • Explain your personal balance sheet and
and make improvements and adjustments           account are good business practices.                 method of compensation.
along the road.                                                                                    • Discuss who will maintain your
                                                   Also remember, if you have employees              accounting records and how they will be
   Ask yourself these questions – and           you are responsible for withholding                  kept.
remember, there are no best or right reasons    income and social-security taxes, and for          • Provide “what if” statements addressing
for starting a home-based business. But it is   complying with minimum wage and                      alternative approaches to potential
important to understand what the venture        employee health and safety laws.                     problems.
involves.                                          If you’re convinced that working from
   Working under the same roof where            home is for you, it’s time to create your
your family lives may not prove to be as        business plan. The SBA and its resource

12 — Small Business Resource   CONNECTICUT                                                                              Visit us online: www.sba.gov/ct
Operations                                      REACHING UNDERSERVED                                For additional information, contact one
   • Explain how the business will be                                                           of the following:
     managed day-to-day.                        AUDIENCES
   • Discuss hiring and personnel procedures.                                                   Women's Business Development Center
   • Discuss insurance, lease or rent           Women Business Owners                           (WBDC)
     agreements, and issues pertinent to your      Women entrepreneurs are changing the
     business.                                                                                  Southwestern CT Center
                                                face of America's economy. In the 1970’s,          888 Washington Blvd., 10th Fl.
   • Account for the equipment necessary to
     produce your goods or services.            women owned less than five percent of the          Stamford, CT 06904-2152
   • Account for production and delivery of     nation’s businesses. Today, they are at least      203-353-1750 or
     products and services.                     equal owners of nearly half the nation’s           877-999-WBDC (9232) Toll Free
                                                businesses and are majority owners of              203-353-1084 Fax
Concluding Statement                                                                               info@ctwbdc.org
                                                about a third of all small businesses. SBA
                                                                                                   www.ctwbdc.org
   Summarize your business goals and            serves women entrepreneurs nationwide
objectives and express your commitment          through its various programs and services,         Kenyetta Banks
to the success of your business. Once you       some of which are designed especially for          Program Manager
have completed your business plan,              women. Many of these are overseen by               203-353-1750 ext 12
review it with a friend or business             SBA’s Office of Women’s Business                   kbanks@ctwbdc.org
associate and professional business             Ownership.
counselor like SCORE or SBDC                                                                       Marian Cicolello
                                                   Women’s        business      ownership          Project Director
representatives, SBA district office
                                                representatives in every SBA district office       203-353-1750 ext 13
business development specialists or                                                                mcicolello@ctwbdc.org
                                                coordinate services for women, helping
Veterans      Business      Development
                                                them access appropriate training,
specialists.                                                                                    Naugatuck Valley Center
                                                counseling, mentoring, federal contracting
   Remember, the business plan is a flexible                                                       Waterbury Regional Chamber
document that should change as your             opportunities, financing, and more. They           83 Bank St.
business grows.                                 can also provide information on other local        Waterbury, CT 06721
                                                resources, including SBA resource partners
                                                and lenders.




Visit us online: www.sba.gov/ct                                                                        CONNECTICUT Small Business Resource —   13
                                                                                              Reserve    and    Guard          members           at:
                                                                                              http://www.sba.gov/aboutsba/sbaprograms
                                                                                              /reservists/index.html.
                                                                                                To ensure that veterans, service-disabled
                                                                                              veterans and Reserve and National Guard
                                                                                              member entrepreneurs receive special
                                                                                              consideration in all its entrepreneurial
                                                                                              programs and resources, the SBA has
                                                                                              established an Office of Veterans Business
                                                                                              Development. OVBD develops and
                                                                                              distributes various informational materials
                                                                                              for entrepreneurship such as the Veterans
                                                                                              Business Resource Guide, VETGazette,
                                                                                              Getting Veterans Back to Work, and various
                                                                                              other materials. Veterans may access these
                                                                                              resources and other assistance from OVBD
                                                                                              by     visiting    the    Web     site   at:
                                                                                              www.sba.gov/VETS/.
                                                                                                For more information or special
                                                                                              assistance with government contracting,
                                                                                              including programs for veterans and
                                                                                              service-disabled veterans, please check the
                                                                                              Contracting Opportunities section of this
                                                                                              publication, and the Web site above.
                                                                                                SBA’s Patriot Express Initiative has new
                                                                                              and enhanced programs and services for
Greater Valley Chamber of Commerce            Outreach Centers provide online and face-       veterans and members of the military
    900 Bridgeport Ave., 2nd Fl.              to-face entrepreneurial development             community wanting to establish or expand
    Shelton, CT 06484                         services such as business training,             small businesses. See the Financing section
    info@ctwbdc.org
                                              counseling and mentoring to eligible            for more information on Patriot Express.
    www.ctwbdc.org
                                              veterans owning or considering starting a          For more information on special
    Kenyetta Banks                            small business. SBDCs and SCORE also            government contracting programs for
    Program Manager                           provide targeted management assistance to       veterans and service-disabled veterans,
    203-910-4663                              veterans who are current or prospective         please check the Contracting Opportunities
    kbanks@ctwbdc.org                                                                         section of this publication.
                                              small business owners. SCORE also
                                              provides resources and counseling services      William C. Tierney
    Dorothy Bratchell                                                                            860-240-4894
    Project Director                          online at: www.score.org.
                                                                                                 william.tierney@sba.gov
    203-910-4663                                 The SBA offers special assistance for
    dbratchell@ctwbdc.org                     small businesses owned by activated
The Entrepreneurial Center/
                                              Reserve and National Guard members.             NATIVE AMERICAN BUSINESS
University of Hartford                        Any self-employed Reserve or Guard
                                              member with an existing SBA loan can
                                                                                              DEVELOPMENT
    Program Director: Jean Blake Jackson                                                         The SBA is also working to ensure that
    Butterworth Hall, 1st Fl.                 request from their SBA lender or SBA
    Mail: 50 Elizabeth St.                                                                    entrepreneurship      opportunities    are
                                              district office, loan payment deferrals,
    Hartford, CT 06105                                                                        available for American Indians, Native
                                              interest rate reductions and other relief
    860-768-5681 • 860-768-5622 Fax                                                           Alaskans and Native Hawaiians seeking to
                                              after they receive their activation orders.
    entrectr@hartford.edu                                                                     create, develop and expand small
    www.entrepreneurialctr.org                   Additionally, the SBA offers special low-
                                                                                              businesses. These groups have full access
                                              interest-rate financing to small businesses
                                                                                              to the necessary business development and
                                              when an owner or essential employee is
VETERANS AND RESERVISTS                       called to active duty. The Military Reservist
                                                                                              expansion tools available through the
                                                                                              agency’s entrepreneurial development,
BUSINESS DEVELOPMENT                          Economic Injury Disaster Loan Program
                                                                                              lending and procurement programs. More
  The SBA offers a variety of services to     provides loans to eligible small businesses
                                                                                              information is at: http://www.sba.gov/
American veterans who have made or are        to cover operating costs that cannot be met
                                                                                              aboutsba/sbaprograms/naa/index.html.
seeking to make the transition from service   due to the loss of an essential employee
member to small business owner. Each of       called to active duty in the reserves or        Your contact in Connecticut is:
SBA's 68 district offices throughout the      National Guard. Small businesses may               Stephanie Scott
country has designated a veterans business    apply for MREIDLs of up to $2 million if           860-240-4637
development officer to help veterans          they have been financially impacted by the         Stef.Scott@sba.gov
prepare,    plan     and     succeed     in   loss of an essential employee. The SBA has
entrepreneurship. The Veterans Business       created a special Web page specifically for


14 — Small Business Resource   CONNECTICUT                                                                            Visit us online: www.sba.gov/ct
                                                         REGULATIONS

                    KNOWING THE RULES
                                  Paying Attention to Detail Can Save Time and Money
                                                                                                 SMART START/CT-CLIC
                                                                                                    Smart Start and the Connecticut
                                                                                                 Licensing Info Center are free services for
                                                                                                 businesses looking to start, expand or
                                                                                                 relocate. Smart Start, the business
                                                                                                 assistance service of the Connecticut
                                                                                                 Licensing Info Center, streamlines the
                                                                                                 licensing and registration process by
                                                                                                 providing full-service specialists to assist
                                                                                                 you with answering questions and filling
                                                                                                 out agency application forms.
                                                                                                    For self-service, visit www.CT-CLIC.com
                                                                                                 and the Business Center online to
                                                                                                 determine requirements, download forms
                                                                                                 and instructions, verify license holders,
                                                                                                 access business programs and resources,
                                                                                                 and take an instant online checklist or fill
                                                                                                 out the online inquiry from for a
           ven if your consulting service or     identification number to operate, finding       customized response from Smart Start.




E          hand-knit sweater business is         the right license can be a major challenge         To speak with a specialist, contact
           based from your home, it will         for potential business owners.                  800-392-2122 or e-mail:
                                                                                                 SmartStart@cerc.com.
           have to comply with many of              “Feature Topics” focuses on common
           the numerous local, state, and        business concerns. It provides context to
federal regulations. Avoid the temptation to     the compliance information provided on          CHOOSING YOUR BUSINESS
ignore regulatory details. Doing so may
avert some red tape in the short term, but
                                                 the site and helps business owners
                                                 understand in plain language the
                                                                                                 STRUCTURE
                                                                                                    You may operate your business under
could be an obstacle as your business            regulatory requirements their businesses
                                                                                                 one of many organizational structures. The
grows. Taking the time to research the           face. Additional topics are added on a          most common organizational structures are
applicable regulations is as important as        regular basis in response to the most           sole proprietorships, general and limited
knowing your market. Bear in mind that           frequent searches on the site.                  partnerships, “C” and “S” corporations and
regulations vary by industry. If you're in the      The     Content    Partners    Program       limited liability companies.
food-service business, for example, you          encourages government agencies, trade              Each structure offers unique tax and
will have to deal with the health                associations and professional organizations     liability benefits. If you’re uncertain which
department. If you use chemical solvents,        to develop compliance assistance tools and      format of business is right for you, you may
you will have environmental compliances          resources for small- and medium-sized           want to discuss options with a business
to meet. Carefully investigate the               businesses that can then be featured on the     counselor or attorney.
regulations that affect your industry. Being     site’s Feature Topics and Compliance            Sole Proprietorship
out of compliance could leave you                Guides pages.                                      One person operating a business as an
unprotected legally, lead to expensive              Business.gov partners with the SBA and       individual is a sole proprietorship. It’s the
penalties and jeopardize your business.          21 other federal agencies. You’re just a        most common form of business
                                                 computer click away from help 24-hours a        organization. Profits are taxed as income to
                                                 day at: www.business.gov.                       the owner personally. The personal tax rate
BUSINESS.GOV                                                                                     is usually lower than the corporate tax rate.
   Business.gov is the official business link                                                    The owner has complete control of the
to the U.S. government providing a one-          BUSINESS ORGANIZATION                           business, but faces unlimited liability for its
stop shop for federal resources from the           There are many forms of legal structure       debts. There is very little government
federal government agencies that regulate        you may choose for your business. Each          regulation or reporting required with this
or serve businesses.                             legal structure offers organizational options   business structure.
   Business.gov’s new “Permit Me” feature        which are appropriate for different
provides a single source for obtaining           personal situations and which affect tax        General Partnership
                                                                                                   A partnership exists when two or more
federal and state permits and professional       and liability issues. We suggest you
                                                                                                 persons join together in the operation and
licenses for businesses.        While most       research each legal structure thoroughly        management of a business. Partnerships
businesses in the United States are required     and consult a tax accountant and/or             are subject to relatively little regulation and
to obtain a permit, professional license, or     attorney prior to making your decision.         are fairly easy to establish. A formal

Visit us online: www.sba.gov/ct                                                                         CONNECTICUT Small Business Resource —   15
partnership agreement is recommended to            only their investment, not personal assets.       All firms must obtain a State Tax
address potential conflicts such as: who           The limited liability partnership is similar   Registration Number/ID from the
will be responsible for performing each            to the LLC, but it is for professional         Connecticut Department of Revenue
task; what, if any, consultation is needed         organizations.                                 Services, 25 Sigourney Street, Hartford, CT
between partners before major decisions,                                                          06101. You can reach the department at
and what happens when a partner dies,
and so on. Under a general partnership
                                                   LOGISTICS OF STARTING                          860-297-5962 in state, 800-382-9463 outside
                                                                                                  Connecticut, or www.ct.gov/drs. Application
each partner is liable for all debts of the        YOUR BUSINESS                                  fees vary with the type of business and start
business. Profits are taxed as income to the                                                      at $50. Regional offices are in Bridgeport,
partners based on their ownership                  BUSINESS LICENSES                              Hamden, Hartford, Norwich and
percentage.                                          There are many types of licenses, both       Waterbury.
                                                   state and local as well as professional.          For tax related questions, e-mail
Limited Partnership                                                                               drs@po.state.ct.us or visit the Web at:
  Like a general partnership, a limited            Depending on what you do and where you
                                                   plan to operate, your business may be          www.ct.gov/drs.
partnership is established by an agreement
between two or more persons. However,              required to have various state and/or
there are two types of partners.                   municipal licenses, certificates or permits.
                                                     Licenses are typically administered by a
                                                                                                  BUSINESS INSURANCE
  • A general partner has greater control in                                                         Like home insurance, business insurance
    some aspects of the partnership. For           variety of state and local departments.        protects the contents of your business
    example, only a general partner can            Consult your state or local government for     against fire, theft and other losses. Contact
    decide to dissolve the partnership.            assistance.                                    your insurance agent or broker. It is
    General partners have no limits on the
                                                                                                  prudent for any business to purchase a
    dividends they can receive from profit so
    they incur unlimited liability.                FICTITIOUS BUSINESS NAME                       number of basic types of insurance. Some
  • Limited partners can only receive a share        Registering your business name, after        types of coverage are required by law, other
    of profits based on the proportional           doing a search to make sure that it is not     simply make good business sense. The
    amount on their investment, and the            already in use, protects you from others       types of insurance listed below are among
    liability is similarly limited in proportion   who might be using the same name. For          the most commonly used and are merely a
    to their investment.                           more information, contact the county           starting point for evaluating the needs of
                                                   clerk’s office in the county where your        your business.
“C” Corporation                                    business is based. But if you are a               Liability Insurance – Businesses may
   A “C” corporation is a legal entity created     corporation, you’ll need to check with the     incur various forms of liability in
under state law by the filing of articles of       state.                                         conducting their normal activities. One of
incorporation. A corporation is a separate                                                        the most common types is product liability,
entity having its own rights, privileges and                                                      which may be incurred when a customer
liabilities, apart from those of the               STATE TAXES                                    suffers harm from using the business
individual(s) forming the corporation. It’s          The Connecticut Department of Revenue        product. There are many other types of
the most complex form of business                  Services is the agency responsible for         liability, which are frequently related to
organization and is comprised of                   administering tax laws and collecting state    specific industries. Liability law is
shareholders, directors and officers. Since        tax revenues. Among the taxes they collect     constantly changing. An analysis of your
the corporation is an entity in its own right      are Sales and Use Tax, Corporate and           liability insurance needs by a competent
it can own assets, borrow money and                Personal Income Tax, Business Entity Tax,      professional is vital in determining an
perform business functions without                 Admission Tax, Dues Tax and others. The        adequate and appropriate level of
directly     involving       the      owners.      Connecticut Department of Revenue              protection for your business.
Corporations are subject to more                   Services      provides      comprehensive         Property – There are many different
government regulation and it offers the            information      on       their    website     types of property insurance and levels of
owners the advantage of limited liability,         www.ct.gov/drs. Business owners may also       coverage available. It is important to
but not total protection from lawsuits.            elect to receive updated information via       determine the property you need to insure
                                                   "DRS E-NEWS." Additional and printed           for the continuation of your business and
Subchapter “S” Corporation                         information can be obtained by calling         the level of insurance you need to replace
  Subchapter “S” references a special part         860-297-5962 in the Hartford area or           or rebuild. You must also understand the
of the Internal Revenue Code that permits a        800-382-9463 in other areas of the state, or   terms of the insurance, including any
corporation to be taxed as a partnership or        by visiting www.ct.gov/drs.                    limitations or waivers of coverage.
sole proprietorship, with profits taxed at           Employers are also required to register         Business Interruption – While property
the individual, rather than the corporate          with the Connecticut Department of Labor       insurance may pay enough to replace
rate. A business must meet certain                 for payment of unemployment and                damaged or destroyed equipment or
requirements for Subchapter “S” status.            workers compensation taxes. Please             buildings, how will you pay costs such as
Contact the IRS for more information.              telephone that agency at 860-263-6000 or       taxes, utilities and other continuing
                                                   visit the DOL website at: www.ct.gov/dol.      expenses during the period between when
LLCs and LLPs                                                                                     the damage occurs and when the property
   The limited liability company is a
relatively new business form. It combines          ESTIMATED INCOME TAXES                         is replaced? Business Interruption (or
                                                                                                  "business income") insurance can provide
selected corporate and partnership                    If the business income tax is expected to
                                                                                                  sufficient funds to pay your fixed expenses
characteristics while still maintaining status     exceed $1,000 per year, you must submit
                                                                                                  during a period of time when your
as a legal entity distinct from its owners. As     form 1040ES Federal Estimated Taxes for
                                                                                                  business is not operational.
a separate entity it can acquire assets, incur     each quarter, and pay 90 percent minimum
                                                                                                     "Key Man" – If you (and/or any other
liabilities and conduct business. It limits        of the estimated quarterly income tax each
                                                                                                  individual) are so critical to the operation of
liability for the owners. LLC owners risk          quarter. Quarterly State Estimated taxes
                                                                                                  your business that it cannot continue in the
                                                   also apply.

16 — Small Business Resource   CONNECTICUT                                                                               Visit us online: www.sba.gov/ct
event of your illness or death, you should
consider "key man" insurance. This type of
                                                EMPLOYER IDENTIFICATION                           EINs are also issued automatically
                                                                                                online. Visit the IRS Web site,
policy is frequently required by banks or       NUMBER                                          http://www.irs.gov/businesses/small/article/0,
government loan programs. It also can be           An EIN, Form SS-4, also known as a           ,id=102767,00.html for more information.
used to provide continuity in operations        federal tax identification number, is used to
during a period of ownership transition         identify a business entity. Generally all       FEDERAL
caused by the death, incapacitation or
absence due to a Title 10 military activation
                                                businesses need an EIN. You may apply for
                                                an EIN in a variety of ways, including
                                                                                                SELF-EMPLOYMENT TAX
of an owner or other "key" employee.            online, phone, fax. Taxpayers can obtain an       Everyone must pay Social Security and
   Automobile – It is obvious that a vehicle    EIN immediately by calling 800-829-4933,        Medicare coverage. If you are self-
owned by your business should be insured        Monday through Friday, from 7:30 a.m. to        employed, your contributions are made
for both liability and replacement              5:30 p.m. customer's local time.                through the self-employment tax.
purposes. What is less obvious is that you         Taxpayers can fax EIN requests seven           The IRS has publications, counselors and
may need special insurance (called "non-        days a week/24 hours a day by dialing the       workshops available to help you sort it out.
owned automobile coverage") if you use          fax number to one of three IRS campuses         For more information, contact the IRS at
your personal vehicle on company                that accept applications. The instructions      800-829-1040.
business. This policy covers the business'      on the newly revised Form SS-4,
liability for any damage which may result
for such usage.
                                                Application for Employer ID Number,
                                                indicate which IRS Campus is assigned to
                                                                                                SALES TAX EXEMPTION
   Officer and Director – Under most state
laws, officers and directors of a corporation
                                                their specific state. Detailed information      CERTIFICATE
                                                and an electronic SS-4 can be found at the         If you plan to sell products, you will
may become personally liable for their          IRS Small Business/Self Employed
actions on behalf of the company. This type                                                     need a Sales Tax Exemption Certificate. It
                                                Community Web site at: http://www.irs.gov       allows you to purchase inventory, or
of policy covers this liability.                /businesses/small/index. html, click on New
   Home Office – If you are establishing an                                                     materials, which will become part of the
                                                Businesses. Faxed applications are              product you sell, from suppliers without
office in your home, it is a good idea to       processed in four days. The IRS Campus'
contact your homeowners' insurance                                                              paying taxes. It requires you to charge sales
                                                accepting faxed applications are:
                                                  Holtsville, NY           631-447-8960
company to update your policy to include                                                        tax to your customers, which you are

                                                  Cincinnati, OH           859-669-5760
coverage for office equipment. This                                                             responsible for remitting to the state. You
                                                                                                will have to pay penalties if it is found that
                                                  Philadelphia, PA         215-516-3990
coverage is not automatically included in a
standard homeowner's policy.                                                                    you should have been taxing your products




Visit us online: www.sba.gov/ct                                                                        CONNECTICUT Small Business Resource —   17
and now owe back taxes to the state. For
information on sales tax issues, contact
                                                 SMALL BUSINESS VIDEO AND EMPLOYEE CONSIDERATIONS
your state’s government.                         AUDIO PRESENTATIONS      Taxes
                                                   A new page at http://www.irs.gov/                 If you have any employees, including
                                                                                                  officers of a corporation but not the sole
FEDERAL INCOME TAX                               businesses/small/article/0,,id=97726,00.
                                                                                                  proprietor or partners, you must make
  Like the state income tax, the method of       html on IRS.gov features video and audio
                                                 presentations on a variety of topics for         periodic payments of, and/or file quarterly
paying federal income taxes depends upon                                                          reports about payroll taxes and other
your legal form of business. The following       small businesses and self-employed
                                                 taxpayers, highlighted by an audio podcast       mandatory deductions. You may contact
procedures must be considered:
                                                 reenactment of the May 2008 IRS National         these government agencies for information,
  Sole Proprietorship: You must file IRS
                                                 Phone Forum for first-time Schedule C            assistance and forms.
Federal Form Schedule C along with your                                                           Social Security Administration
personal Federal Income Tax return (Form         filers. Also included are:                          800-772-1213
1040) and any other applicable forms               • Adjusting Employment Taxes: New for             http://www.ssa.gov
pertaining to gains or losses in your                2009
business activity.                                 • Backup Withholding for Form 1099-MISC
                                                   • Bartering Income
                                                                                                  Social Security’s Business Services
  Partnership: You must file a Federal                                                            Online
                                                   • Choosing a Tax Preparer
Partnership return (Form 1065). This is            • Employer Identification Numbers               The Social Security Administration now
merely informational to show gross and net         • Small Business Tax Workshops                 provides free electronic services online at
earnings of profit and loss. Also, each            • Schedule C: Who needs to file and how to     www.socialsecurity.gov/employer/. Once
partner must report his share of                     do it                                        registered for Business Services Online,
partnership earnings on his individual             In addition to these video and audio           business owners or their authorized
Form 1040 based on the information from          presentations, please visit the Small            representative can:
the K-1 filed with the Form 1065.                Business/Self-Employed Virtual Small               • file W-2s online; and
  Corporation: You must file a Federal           Business      Tax     Workshop      at             • verify Social Security Numbers through
Corporation Income Tax return (Form              http://www.irs.gov/businesses/small/article/0,       the Social Security Number Verification
1120). You will also be required to report       ,id=200274,00.html for instructional                 Service, used for all employees prior to
                                                 lessons.                                             preparing and submitting Forms W-2.
your earnings from the corporation
                                                                                                  Federal Withholding
including salary and other income such as                                                            U.S. Internal Revenue Service
dividends on your personal federal income        Self-Employed Individuals Tax Center                800-829-1040
tax return (Form 1040).                             Small businesses and the self-employed           http://www.irs.gov
                                                 will also find information and resources in
                                                 the Self-Employed Individuals Tax Center         Employee Insurance
FEDERAL PAYROLL TAX                              at     http://www.irs.gov/businesses/small/
                                                                                                    If you hire employees you may be
   Federal Withholding Tax: Any business         selfemployed/.
                                                                                                  required to provide unemployment or
employing a person must register with the
                                                 e-News for Small Businesses                      workers’ compensation insurance.
IRS and acquire an EIN and pay federal
                                                    To learn about other IRS products and
withholding tax at least quarterly. File Form
                                                 services, and to keep up with the latest IRS
SS-4 with IRS to obtain number and               announcements for small businesses, start a      WORKPLACE PROGRAM
required tax forms. Call 800-829-3676 or         free subscription to e-News for Small               Americans with Disabilities (ADA): For
800-829-1040 if you have questions.              Businesses; just go to IRS.gov at                assistance with the ADA, call 800-669-3362
                                                 http://www.irs.gov/businesses/small/content/     or visit: http://www.ada.gov.
IRS WEB PRODUCTS FOR                             0,,id=154826,00.html, type in your e-mail
                                                 address and submit.
SMALL BUSINESSES                                                                                  U.S. CITIZENSHIP AND
  To provide the most timely and up-to-          SOCIAL SECURITY CARDS                            IMMIGRATION SERVICES
date tax information, the Small Business                                                             The Federal Immigration Reform and
                                                    All employees must have a social
Resource Guide (SBRG), formerly a CD-                                                             Control Act of 1986 requires employers to
                                                 security card. It must be signed by its
ROM, is available exclusively online at                                                           verify employment eligibility of new
                                                 owner, and you should always ask to see
http://www.irs.gov/businesses/small/article/0,                                                    employees. The law obligates an employer
                                                 and personally record the social security
,id=155439,00.html.                                                                               to process Employment Eligibility
                                                 number. Failure to do so may cause your
   Designed to equip small business                                                               Verification Form I-9. The U.S. Citizenship
                                                 employee to lose benefits and considerable
owners with the skills and knowledge                                                              and Immigration Services Office of
                                                 trouble for yourself in back tracking to
needed to successfully start and manage a                                                         Business Liaison offers a selection of
                                                 uncover the error.
business, IRS has ensured the SBRG 2009                                                           information bulletins and live assistance
                                                    Each pay day, your employees must
Web site offers the same quality of                                                               through the Employer Hotline. For forms
                                                 receive a statement from you telling them
information the SBRG CD was known for,                                                            call 800-870-3676, for the Employer Hotline
                                                 what deductions were made and how
covering a wide range of tax topics, Web                                                          call 800-357-2099.
                                                 many dollars were taken out for each legal
links to business forms, publications, other
                                                 purpose. This can be on the check as a
useful governmental Web sites, and much
                                                 detachable portion or in the form of an
more.
                                                 envelope with the items printed and spaces
                                                 for dollar deductions to be filled in.


18 — Small Business Resource   CONNECTICUT                                                                                Visit us online: www.sba.gov/ct
SAFETY & HEALTH                                 the source of goods. Trademarks may be
                                                registered at both the state and federal
                                                                                                Additional information is provided in
                                                                                              the publications, General Information
REGULATIONS                                     level. To register a federal trademark,       Concerning Patents and other publications
  All businesses with employees are             contact:                                      distributed through the U.S. Patent and
required to comply with state and federal       Patent and Trademark Office:                  Trademark Office. For more information,
                                                   P.O. Box 1450                              contact the:
regulations regarding the protection of
                                                   Alexandria, VA 22313-1450                  U.S. Patent and Trademark Office
employees. The Occupational Safety and             800-786-9199                                  800-786-9199 • http://www.uspto.gov
Health Administration outlines specific            http://www.uspto.gov/
health and safety standards adopted by the
U.S. Department of Labor. For more              Trademark Information Hotline                 Copyrights
                                                   703-308-9000                                  Copyrights protect original works of
information, contact:                                                                         authorship including literary, dramatic,
& Health Administration
Federal Occupational Safety                                                                   musical and artistic, and certain other
                                                State Registration of a Trademark
                                                                                              intellectual works. Copyright does not
     Department of Labor                        Trademarks and service marks may be
     820 First St. N.E.                                                                       protect facts, ideas and systems, although it
                                                registered in a state.                        may protect the way these things are
     Washington, DC 20020                       Caution: Federally registered trademarks
     202-693-5000                                                                             expressed. For general information contact:
                                                may conflict with and supersede state         U.S. Copyright Office
  Use of hazardous substances in
                                                registered business and product names.           U.S. Library of Congress
businesses is highly regulated and there are                                                     James Madison Memorial Building
heavy fines for non-compliance.                                                                  Washington, DC 20559
                                                Patents
   Hazardous substances used in your                                                             202-707-9100 - Order Line
                                                  A patent is the grant of a property right
business need to be registered with the                                                          202-707-3000 - Information Line
                                                to the inventor by the U.S. Patent and           www.copyright.gov
local municipality to assist emergency
                                                Trademark Office. It provides the owner
service providers as well as the State of
                                                with the right to exclude others from
Connecticut, Department of Environmental
                                                making, using, offering for sale or selling
protection (DEP). Call the DEP Permit
                                                the patented item in the United States.
Assistance Office at 860-424-3003 for more
details or visit www.ct.gov/dep.

BUILDING CODES, PERMITS
AND ZONING
   It is important to consider zoning
regulations when choosing a site for your
business. You may not be permitted to
conduct business out of your home or
engage in industrial activity in a retail
district. Contact the business license office
in the city or town where the business is
located.

BAR CODING
   GS1 US™ (not a government agency)
provides a unique company number to
create bar codes (including UPCs) for your
products. Many stores require bar coding
on packaged products. Many industrial
and manufacturing companies use bar
coding to identify items they receive and
ship. GS1 US, formerly the Uniform Code
Council, Inc., provides tools and assistance
to help you meet these requirements. For
information, visit www.gs1us.org/pc. For
additional questions, contact:
GS1 US
     7887 Washington Village Dr., Ste. 300
     Dayton, OH 45459-8605
     937-435-3870

Federal Registration of Trademarks
and Copyrights
  Trademarks or service markets are
words, phrases, symbols, designs or
combinations that identify and distinguish

Visit us online: www.sba.gov/ct                                                                      CONNECTICUT Small Business Resource —   19
                                                                  FINANCING

                     GETTING APPROVED
                                Financing Options to Start or Grow Your Business
                                                                                                          criteria to accommodate a wide range of
                                                                                                          financing needs.
                                                                                                              The business loans that SBA guarantees
                                                                                                          do not come from the agency, but rather
                                                                                                          from banks and other approved lenders.
                                                                                                          The loans are funded by these
                                                                                                          organizations and they make the decisions
                                                                                                          to approve or not approve the applicants’
                                                                                                          requests.
                                                                                                              The SBA guaranty reduces the lender’s
                                                                                                          risk of borrower non-payment. If the
                                                                                                          borrower defaults, the lender can request
                                                                                                          SBA to pay the lender that percentage of the
                                                                                                          outstanding balance guaranteed by SBA.
                                                                                                          This allows the lender to recover a portion
                                                                                                          from SBA of what it lent if the borrower
                                                                                                          can’t make the payments. The borrower is
                                                                                                          still obligated for the full amount.
   The American Recover y a nd Rei nvestment Act       loan programs to see if they may be a viable
   ma y a ffect some SB A loan guar ant ee programs.                                                          To qualify for an SBA guaranty, a small
                                                       option. The three principal players in most
   For the la test information, see your l ocal SBA                                                       business must meet the lender’s criteria
                                                       of these programs are — the applicant
   dist rict office or www.sba.gov.                                                                       and the 7(a) requirements. In addition the
                                                       small business, the lender and the SBA.
                                                                                                          lender must certify that it would not
                                                       SBA guarantees a portion of the loan




M
                    any entrepreneurs need                                                                provide this loan under the proposed terms
                    financial resources to             (except for MicroLoans). The business              and conditions unless it can obtain an SBA
                    start or expand a small            should have its business plan prepared             guaranty. If the SBA is going to provide a
                    business themselves                before it applies for a loan. This plan            lender with a guaranty, the applicant must
                    and must combine                   should explain what resources will be              be eligible creditworthy and the loan
what they have with other sources of                   needed to accomplish the desired business          structured under conditions acceptable to
financing. These sources can include                   purpose including the cost of everything,          SBA.
family and friends, venture-capital                    the applicants’ contribution, use of loan
                                                       proceeds, collateral, and most important,
financing, and business loans.
   This section of the Small Business                  an explanation of how the business will be         PERCENTAGE OF GUARANTIES
Resource guide discusses SBA’s primary                 able to repay the loan in a timely manner.         AND LOAN MAXIMUMS
business loan and equity financing                        The lender will analyze the application            The SBA only guarantees a portion of
programs. These are: the 7(a) Loan                     to see if it meets the lender’s criteria as well   any particular loan so each loan will also
Program, the Certified Development                     as SBA’s requirements. SBA will look to the        have an unguaranteed portion giving the
Company or 504 Loan Program, the                       lender to do much, if not all, of the analysis     lender a certain amount of exposure and
MicroLoan Program and the Small                        before it provides its guaranty on the             risk on each loan. The percentage SBA
Business Investment Company Program.                   lender’s loan or provides the microlenders         guarantees depends on either the dollar
The distinguishing features for these                  with funds to re-lend to the business. The         amount or the program the lender uses to
programs are the total dollar amounts that             SBA’s business loan programs provide a             obtain its guaranty. For loans of $150,000 or
can be borrowed, the type of lenders who               key source of financing for viable small           less the SBA will guaranty as much as 85
can provide these loans, the uses for the              businesses that have real potential, but           percent and for loans over $150,000 the SBA
loan proceeds, and the terms placed on the             cannot qualify for loans on their own.             can provide a guaranty of up to 75 percent.
borrower.                                                                                                 (NOTE: These percentages may be
   Note: The SBA does not offer grants to              7(A) LOAN PROGRAM                                  temporarily increased up to 90 percent as
                                                                                                          part of the American Recovery and
individual business owners to start or                    The 7(a) Loan Program is the SBA’s
grow a business. The only grants the SBA                                                                  Reinvestment Act of 2009 Check with
                                                       primary business loan program. It is the
is authorized to provide are for entities to                                                              your local SBA district office for more
                                                       agency’s most used non-disaster financial
provide businesses management techni-                                                                     information.)
                                                       assistance program because of its flexibility
cal assistance to other businesses.                                                                          The maximum loan amount is $2 million
                                                       in loan structure, variety of loan proceeds
                                                                                                          and the maximum guaranty amount to any
   When you seek a business loan,                      uses, and availability. This program has
                                                                                                          one business (including affiliates) is $1.5
familiarize yourself with the SBA’s business           broad eligibility requirements and credit
                                                                                                          million. The one exception is when a

24 — Small Business Resource   CONNECTICUT                                                                                      Visit us online: www.sba.gov/ct
business needs both working capital and
fixed assets to promote exporting in which
case the SBA can provide a maximum
guaranty of $1.75 million.
   Loans made under the SBAExpress
program, which is discussed subsequently,
have a 50 percent guaranty.


INTEREST RATES AND FEES
   The actual interest rate for a loan
guaranteed by SBA is negotiated between
the applicant and lender and subject to SBA
maximums. Both fixed and variable
interest rate structures are available. The
maximum rate is comprised of two parts, a
base rate and an allowable spread. There
are three acceptable base rates (Wall Street
Journal Prime, London Interbank One             the purpose of the loan proceeds and the          assets (both business and personal) until
Month Prime plus 3 percent, and an SBA          useful life of the assets financed. However,      the recovery value equals the loan amount
Peg Rate). Lenders are allowed to add an        maximum loan maturities have been                 or until all assets have been pledged to the
additional spread to the base rate to arrive    established: 25 years for real estate; up to 10   extent that they are reasonably available, to
at the final rate. For loans with maturities    years for equipment (depending on the             adequately secure the loan. Personal
of less than seven years the maximum            useful life of the equipment); and generally      guaranties are required from all the
spread will be no more than 2.25 percent.       up to seven years for working capital.            principal owners of the business. Liens on
For loans with maturities of seven years or     Short-term loans and revolving lines of           personal assets of the principals may be
more the maximum spread will be 2.75            credit are also available through the SBA to      required.
percent. Loans under $50,000 and loans          help small businesses meet their short-term
processed through Express procedures are
permitted to be higher.
                                                and cyclical working capital needs.
                                                                                                  ELIGIBILITY
   Loans guaranteed by SBA are assessed a
guaranty fee. This fee is based on the loan’s
                                                STRUCTURE                                            7(a) loan eligibility is based on four
                                                                                                  different factors. The first is size, as all loan
maturity and the dollar amount                      Most loans are repaid with monthly            recipients must be classified as “small” by
guaranteed, not the total loan amount, and      payments of principal and interest. For           SBA. The basic size standards are outlined
the loan’s maturity. The guaranty fee is        fixed-rate loans the payments stay the same       below. A more in-depth listing of standards
generally paid by the borrower and can be       whereas for variable rate loans the lender        can be found at: http://www.sba.gov/
included in the loan proceeds.                  can re-establish the payment amount when          services/contractingopportunities/index.html
   On any loan with a maturity of one year      the interest rates change or at other             then select “Size Standards” from the
or less, the fee is just 0.25 percent of the    intervals as negotiated with the borrower.        “Contracting Opportunities” menu in the
guaranteed portion of the loan. On loans        Applicants can request that the lender            right hand column.
with maturities of more than one year, the      establish the loan with interest-only
normal guaranty fee is 2 percent of the SBA     payments during the start-up and                  SBA Size Standards:
guaranteed portion on loans up to $150,000;     expansion phases (when eligible) to allow           • Manufacturing from 500 to no more than
3 percent on loans over $150,000 but not        the business time to generate income before           1,500 employees
more than $700,000; and 3.5 percent on          it starts making full loan payments. There          • Wholesaling — No more than 100
loans over $700,000. There is also an                                                                 employees
                                                are no balloon payments or call provisions
additional fee of 0.25 percent on any                                                               • Services from $4.5 million to no more
                                                allowed on any 7(a) loan. The lender may              than $33.5 million in average annual
guaranteed portion over $1 million. * All
                                                not charge a prepayment penalty if the loan           receipts
references to the prime rate refer to the
                                                is paid off before maturity, but the SBA will       • Retailing from $7 million to no more than
lowest prime rate as published in the Wall                                                            $29.5 million
                                                charge the borrower a prepayment fee if the
Street Journal on the day the application                                                           • General construction from $7 million to
is received by the SBA.                         loan has a maturity of 15 or more years and
                                                                                                      no more than $33.5 million
   (Note: These fees will be temporarily        is pre-paid during the first three years.
                                                                                                    • Agriculture from $750,000 to no more
lowered for some loans as part of the                                                                 than $17.5 million in average annual
American Recovery and Reinvestment              COLLATERAL                                            receipts
Act.)                                              The SBA expects every loan to be fully
                                                                                                  Nature of Business
                                                secured, but, the SBA will not decline a
7(A) LOAN MATURITIES                            request to guaranty a loan if the only
                                                                                                    The second eligibility factor is based on
                                                                                                  the nature of the business and the process
   SBA loan programs are generally              unfavorable factor is insufficient collateral,
                                                                                                  by which it generates income or the
intended to encourage longer term small         provided all available collateral is offered.
                                                                                                  customers it serves. The SBA has general
business financing, but actual loan             What these two policies mean is that every
                                                                                                  prohibitions against providing financial
maturities are based on the ability to repay,   SBA loan is to be secured by all available
                                                                                                  assistance to businesses involved in such

Visit us online: www.sba.gov/ct                                                                           CONNECTICUT Small Business Resource —   25
activities as lending, speculating, passive       • All loans must be so sound as to             4, and the lender completes SBA Form 4-1.
investment, pyramid sales, loan packaging,          reasonably assure repayment.                 When requests for guarantees are
presenting live performances of a prurient        For SBA’s eligibility requirements check:      processed using Express methods, the
sexual nature, businesses involved in           http://www.sba.gov/services/ then select         applicant uses more of the regular forms of
gambling and any illegal activity.              “Loan Eligibility” from the “Financial           the lender and just has a few federal forms
   The SBA will also not support non-profit     Assistance” list along the bottom.               to complete. When SBA receives a request
businesses, private clubs that limit                                                             that is processed through Standard or CLP
membership on a basis other than capacity,      WHAT TO TAKE TO THE                              procedures, it either reanalyzes or reviews
businesses that promote a religion,                                                              the lender’s eligibility and credit analys9s
businesses owned by individuals                 LENDER                                           before deciding to approve or reject. For
incarcerated or on probation or parole,           Documentation requirements may vary;           requests      processed     through     PLP,
municipalities, and situations where the        contact your lender for the information you      Community Express and SBA Express
business or its owners previously failed to     must supply.                                     procedures, lenders are permitted to make
repay a federal loan or federally assisted      Common requirements include the                  SBA-guaranteed loans without SBA’s credit
financing.                                      following:                                       approval of the borrower.
                                                  • Purpose of the loan.                            In guaranteeing the loan, the SBA assures
Use of Proceeds                                   • History of the business.
                                                                                                 the lender that, in the event the borrower
                                                  • Financial statements for three years
  The third eligibility factor is usage of                                                       does not repay the loan, the government
                                                    (existing businesses).
proceeds. 7(a) proceeds can be used to:           • Schedule of term debts (existing             will reimburse the lending institution for a
purchase machinery, equipment, fixtures,            businesses).                                 portion of its loss. By providing this
supplies, leasehold improvements, as well         • Aging of accounts receivable and             guaranty, the SBA is able to help tens of
as land and/or buildings that will be               payable (existing businesses).               thousands of small businesses every year
occupied by the business borrower.                • Projected opening-day balance sheet          get financing they might not otherwise
                                                    (new businesses).
Proceeds can also be used to:                     • Lease details.
                                                                                                 obtain.
  • Expand or renovate facilities;                • Amount of investment in the business by         After SBA approval, the lender is notified
  • Finance receivables and augment                 the owner(s).                                that its loan has been guaranteed. The
    working capital;                              • Projections of income, expenses and cash     lender then will work with the applicant to
  • Finance seasonal lines of credit;               flow as well as the assumptions.             make sure the terms and conditions are met
  • Construct commercial buildings; and           • Personal financial statements on the
  • Refinance existing debt under certain                                                        before closing the loan, disbursing the
                                                    principal owners.
    conditions.                                                                                  funds, and assuming responsibility for
                                                  • Resume(s) of the principal owners and
   7(a) loan proceeds cannot be used (except        managers.                                    collection and general servicing. The
for compensation for services rendered) for                                                      borrower makes monthly loan payments
                                                                                                 directly to the lender. As with any loan, the
floor plan financing or to have funds for the
purpose of making investments. They also
                                                HOW THE 7(A) PROGRAM                             borrower is responsible for repaying the
cannot be used to provide perks to an           WORKS                                            full amount of the loan in a timely manner.
owner of the business.                             Applicants submit their loan application
                                                to a lender for the initial review. The lender   What the SBA Looks for:
Miscellaneous Factors                           will generally review the credit merits of         • Ability to repay the loan on time from the
                                                                                                     projected operating cash flow.
   The fourth factor involves a variety of      the request before deciding if they will           • Owners and operators who are of good
requirements such as SBA’s credit               make the loan themselves or if they will             character.
elsewhere test and utilization of personal      need an SBA guaranty. If a guaranty is             • Feasible business plan.
assets requirements where the business and      needed, the lender will also review                • Management expertise and commitment
its principal owners must use their own         eligibility, and the applicant should be             necessary for success.
resources before getting a loan guaranteed      prepared to complete some additional               • Sufficient funds, including the SBA
                                                documents before the lender sends its                guaranteed loan, to operate the business
by SBA. It also includes SBA’s anti-
                                                                                                     on a sound financial basis (for new
discrimination rules and prohibitions on        request for guaranty to the SBA.
                                                                                                     businesses, this includes the resources to
lending to agricultural enterprises because        There are five different ways a lender can        meet start-up expenses and the initial
there are other agencies of the federal         apply for a 7(a) guaranty from SBA. The              operating phase).
government with programs to fund such           main differences between these methods             • Adequate equity invested in the business.
businesses.                                     are related to the documentation which the         • Sufficient collateral to secure the loan or
   Generally, SBA loans must meet the           lender provides, the amount of review                all available collateral if the loan cannot
                                                which SBA conducts, the amount of the                be fully secured.
following:
  • Every loan must be for a sound business     loan and the lender responsibilities in case
    purpose;                                    the loan defaults and the business’ assets       SBAEXPRESS
  • There must be sufficient invested equity    must be liquidated. The five methods are:           SBAExpress is available to lenders as a
    in the business so it can operate on a        •   Standard 7(a) Guaranty participants,
    sound financial basis;                        •   Certified Lender Program participants      way to obtain a guaranty on smaller loans
  • There must be a potential for long-term       •   Preferred Lender Program participants      up to $350,000. The program authorizes
    success;                                      •   SBA Express, and Community Express         selected experienced lenders to use mostly
  • The owners must be of good character              participants.                              their own forms, analysis and procedures
    and reputation; and                          For the Standard, Certified and Preferred       to process, service and liquidate SBA-
                                                methods, the applicant fills out SBA Form        guaranteed loans. The SBA guarantees up

26 — Small Business Resource   CONNECTICUT                                                                              Visit us online: www.sba.gov/ct
to 50 percent of an SBAExpress loan. Loans         • Service-disabled veterans;                 prime depending upon the size and
under $25,000 do not require collateral.           • Active-duty servicemembers eligible for    maturity of the loan. Your local SBA district
Like most 7(a) loans, maturities are usually         the military’s Transition Assistance       office will have a listing of Patriot Express
                                                     Program;
five to seven years for working capital and                                                     lenders in your area. More information is
                                                   • Reservists and National Guard members;
up to 25 years for real estate or equipment.       • Current spouses of any of the above,       at: http://www.sba.gov/patriotexpress.
Revolving lines of credit are allowed for a          including a servicemember;
maximum of seven years. For a list of              • The widowed spouse of a servicemember
lenders in your area, contact your local SBA         or veteran who died during service or of   COMMUNITYEXPRESS PILOT
                                                     a service-connected disability.
office available at:
www.sba.gov/localresources/index.html               The Patriot Express loan is offered by
                                                                                                LOAN PROGRAM
Connecticut District Office                      SBA’s widest network of lenders                   The CommunityExpress Pilot Loan
     330 Main St., 2nd Fl.                       nationwide and features our fastest            Program provides streamlined business
     Hartford, CT 06106                          turnaround time for loan approvals. Loans      financing and management and technical
     Bill Tierney                                                                               assistance to small businesses located in
     860-240-4894                                are available up to $500,000 and qualify for
                                                                                                distressed or underserved markets. The
     William.tierney@sba.gov                     SBA’s maximum guaranty of 85 percent for
                                                                                                CommunityExpress program is offered
     or                                          loans of $150,000 or less and 75 percent for
     Greta Johansson
                                                                                                through hundreds of selected SBA lenders
                                                 loans over $150,000 up to $500,000. For
     860-240-4672                                                                               throughout       the     nation.     Under
                                                 loans above $350,000, lenders are required
     greta.johansson@sba.gov                                                                    CommunityExpress, approved lenders
                                                 to take all available collateral.
                                                                                                may use streamlined and expedited loan
                                                    The Patriot Express loan can be used for
                                                                                                review and approval procedures to process
PATRIOT EXPRESS                                  most business purposes, including start-up,    SBA-guaranteed loans. These lenders may
  The Patriot Express pilot loan initiative is   expansion, equipment purchases, working        thus use, to the maximum extent possible,
for veterans and members of the military         capital, inventory or business-occupied        their own loan analysis, loan procedures,
community wanting to establish or expand         real-estate purchases.                         and loan documentation to process SBA
a small business. Eligible military                 Patriot Express loans feature SBA’s         loans to $250,000. However, borrowers
community members include:                       lowest interest rates for business loans,      must receive technical assistance to qualify
   • Veterans;                                   generally 2.25 percent to 4.75 percent over    for this program.




Visit us online: www.sba.gov/ct                                                                        CONNECTICUT Small Business Resource —   27
                                                                                                     EXPORT ASSISTANCE
                                                                                                     TRADE FINANCING
                                                                                                        The SBA has help for existing small
                                                                                                     businesses wanting to export goods and
                                                                                                     services.


                                                                                                     U.S. EXPORT ASSISTANCE
                                                                                                     CENTER (USEAC)
                                                                                                        U.S. Export Assistance Centers, a
                                                                                                     partnership between SBA, U.S. Department
                                                                                                     of Commerce staff and the Export-Import
                                                                                                     Bank of the U.S. in a single location,
                                                                                                     provide trade promotion and export-
                                                                                                     finance assistance for small businesses. The
                                                    • The Seasonal Line of Credit Program
SPECIAL PURPOSE 7(A) LOAN                             is used to support buildup of inventory,       USEACs also work closely with other
                                                                                                     federal, state and local international trade
PROGRAMS                                              accounts receivable or labor and
                                                      materials above normal usage for               organizations. To find the nearest USEAC,
   The 7(a) program is the most flexible of           seasonal inventory. The business must          go    to:     http://www.sba.gov/aboutsba/
SBA’s lending programs. The agency has                have been in business for a period of 12       sbaprograms/ internationaltrade/useac/index.
created several variations to the basic 7(a)          months and must have a definite                html.
program to address the particular financing           established seasonal pattern. The loan         John Joyce
need of certain small businesses. These               may be used over again after a “clean-            International Trade Specialist
                                                      up” period of 30 days to finance activity         Export Finance Program
special purpose programs are not
                                                      for a new season. These also may have a           Small Business Administration
necessarily for all businesses but may be             maturity of up to five years. The
very applicable to some small businesses.                                                               U.S. Export Assistance Center
                                                      business may not have another seasonal            JFK Federal Bldg., Ste. 1826A
They are generally governed by the same               line of credit outstanding but may have           55 New Sudbury St.
rules, regulations, fees, interest rates, etc. as     other lines for non-seasonal working              Boston, MA 02203
the regular 7(a) loan guaranty. Lenders can           capital needs.                                    617-565-4305 • 617-565-4313 Fax
advise you of any variations.                       • The Builders Line Program provides                John.Joyce@mail.doc.gov
                                                      financing for small contractors or
                                                      developers to construct or rehabilitate
CAPLines                                              residential or commercial property. Loan       EXPORT WORKING CAPITAL
                                                      maturity is generally three years but can
   The CAPLines program is designed to
                                                      be extended up to five years if necessary      PROGRAM
help small businesses meet their short-term           to facilitate sale of the property. Proceeds       The SBA’s Export Working Capital
and cyclical working capital needs. There             are used solely for direct expenses of         Program assists lenders in meeting the
are five loan programs under the CAPLines             acquisition, immediate construction            needs of exporters seeking short-term
umbrella. The programs can be used to                 and/or significant rehabilitation of the
                                                      residential or commercial structures. The
                                                                                                     export working capital. This program
finance seasonal working capital needs;
                                                      purchase of the land can be included if it     enables U.S. exporters to obtain loans to
finance the direct costs of performing
                                                      does not exceed 20 percent of the loan         fund their direct export costs. The EWCP
certain construction, service and supply
                                                      proceeds. Up to 5 percent of the               supports single transactions or revolving
contracts; finance the direct cost associated         proceeds can be used for physical              lines. The maximum dollar amount of an
with      commercial      and     residential         improvements that benefit the property.        export line of credit under this program is
construction; finance operating capital by          • The Small Asset-Based Line is a
                                                                                                     $2 million. SBA guarantees up to 90% of a
obtaining advances against existing                   revolving line of credit (up to $200,000)
                                                      that provides short term working               loan amount or $1.5 million, whichever is
inventory and accounts receivable; and
                                                      capital. These lines are generally used        less. Loan maturities are generally for a
consolidate short-term debt. SBA provides
                                                      by businesses that provide credit to their     term of 12 months. The guaranty can be
up to an 85 percent guarantee. There are              customers. Disbursements are based on          reissued for an additional 12 months
five distinct programs under the CAPLine              the size of a borrower’s accounts              through an abbreviated application
umbrella:                                             receivable and/or inventory. Repayment
                                                                                                     process. The guaranty fee the SBA charges
   • The Contract Loan Program is used to             comes from the collection of accounts
     finance material and labor needs for a           receivable or sale of inventory. It does       is 0.25 percent of the guaranteed amount of
     specific contract or contracts. Proceeds         require      periodic      servicing     and   the loan for the initial 12 months. The
     can be disbursed before the work begins.         monitoring of the collateral for which         borrower negotiates the interest rate and all
     If used for one contract, it is generally        the lender can charge up to two percent        other fees with the lender. The program
     not revolving; if used for more than one         annually to the borrower.                      offers flexible terms, low fees and a quick
     contract at a time, it can be revolving.       • The Standard Asset-Based Line is               processing time. For information, see
     The loan maturity is usually based on            similar to the Small Asset-Based Line,
     the length of the contract, but no more          but for loan amounts over $200,000. It
                                                                                                     www.sba.gov/services/financialassistance/sb
     than five years. Contract payment must           does require stricter servicing and            aloantopics/SpecialPurposeLoans/ewcp/index
     be sent directly to the lender.                  monitoring and the lender may pass             .html
                                                      these costs along to the borrower.


28 — Small Business Resource   CONNECTICUT                                                                                 Visit us online: www.sba.gov/ct
Eligibility of Exporter                            maturity, a borrower may reapply for a            borrower must have an international trade
  You must have an operating history of at         new guarantee. The SBA guarantee fee is           loan as well an SBA working capital loan or
least one year – not necessarily in                0.25 percent of the guaranteed amount of          line of credit. The international trade loan
exporting. The SBA may waive this                  the loan for the initial 12 months. The           provides an SBA guarantee up to $1.5
requirement if you have sufficient export          guarantee fee that Ex-Im Bank charges is          million of a term loan used for the
trade experience or other managerial               0.25 percent on the loan amount that is           acquisition, construction, renovation,
experience.                                        guaranteed by them. The borrower                  modernization, improvement or expansion
Eligible Buyers                                    negotiates the interest rate and all other fees   of long-term fixed assets or the refinancing
   The foreign buyer must be a                     with the lender.                                  of an existing loan used for these same
creditworthy entity located in an acceptable                                                         purposes. In addition a borrower may
foreign country, to both the lender and
                                                   Eligibility of Exporter                           have a separate working capital loan (term
                                                     The same as for the SBA EWCP Program.           or line of credit) with a maximum SBA
SBA.
                                                                                                     guaranty of $1.25 million. When combined,
Use of EWCP Proceeds:                              Eligible Buyers                                   the maximum SBA guaranty outstanding
   • To acquire inventory for export or to be        The foreign buyer must be a                     to any one business is $1.75 million. The
     used to manufacture goods for export.         creditworthy entity located in an acceptable      SBA guaranty fee and interest rates are the
   • To pay the manufacturing costs of goods       country in conformity with the Ex-Im              same as for any standard 7(a) loans.
     for export.                                   Bank’s Country Limitation Schedule.
   • To purchase goods or services for export.
   • To support standby letters of credit
                                                                                                     Eligibility of Exporter
                                                   Use of Proceeds                                     • Applicants must meet the same eligibility
     related to export transactions.
                                                     Same as the SBA EWCP.                               requirements for a 7(a) loan.
   • For pre-shipment working capital
                                                                                                       • Applicant must establish the loan will
     directly related to export orders.
                                                   Ineligible Use of Proceeds                            significantly expand or develop an export
   • For post-shipment foreign accounts
                                                     • Goods or services with less than 50               market, or the applicant has been
     receivable financing.
                                                       percent U.S. content.                             adversely affected by import competition,
                                                     • To support the export of any Defense              and, in addition the applicant must show
Ineligible Use of Proceeds                             Articles or Defense Services.                     that upgrading equipment or facilities
   • To support the applicant’s domestic sales.                                                          will improve its competitive position.
                                                     • To support the applicant’s domestic sales.
   • To acquire fixed assets or capital goods                                                          • If eligibility is based on entering or
                                                     • To acquire fixed assets or capital goods
     for the applicant’s business.                                                                       expanding export sales, the applicant
                                                       for the applicant’s business.
   • To support a sale where the exporter is                                                             must submit a one or two page
                                                     • To acquire, equip, or rent commercial
     not taking title to the goods.                                                                      international business plan, including
                                                       space overseas.
   • To acquire, equip, or rent commercial                                                               sufficient information to reasonably
                                                     • To serve as a Warranty Letter of Credit.
     space overseas.                                                                                     support the likelihood of expanded
   • To serve as a warranty letter of credit.                                                            export sales.
                                                   Collateral Requirements
Collateral Requirements                              Same as the SBA EWCP.
   • Collateral for the manufacturing sector
                                                                                                     Use of Proceeds
                                                   How to Apply                                        • For facilities or equipment, including
     typically consists of a first lien on all
                                                                                                         purchasing land and building(s);
     export-related inventory and export             A small business exporter seeking a co-             building new facilities; renovating,
     related accounts receivable.                  guaranteed loan must apply to a lender                improving, or expanding existing
   • Collateral for the service sector typically
                                                   that is a participant in SBA’s 7(a) Loan              facilities; purchasing or reconditioning
     consists of assignment of proceeds of
     export-related contracts or purchase          Guaranty Program. PLP and SBAExpress                  machinery, equipment and fixtures; and
                                                   processing are not permitted. The lender              making other improvements that will be
     orders and a first lien on export-related
                                                   must submit a completed Joint Application             used within the United States for
     accounts receivable.
                                                                                                         producing goods or services.
   • Other collateral may be required.             for Working Capital Guarantee and loan
                                                   package to SBA. SBA evaluates and
How to Apply                                                                                         Collateral Requirements - Collateral
                                                   processes the application in accordance
   A small business exporter seeking a                                                               requirements are the same as for regular
                                                   with SBA rules for its Export Working
guaranteed EWCP loan must apply to a                                                                 7(a) loans.
                                                   Capital Program.
lender.                                                                                                How to Apply - A small business
                                                                                                     exporter seeking a guaranteed loan must
SBA Ex-Im Bank Co-Guarantee                        INTERNATIONAL TRADE LOAN                          apply to an SBA participating lender. Call
   This is designed to provide small               PROGRAM*                                          your local SBA District Office for a list of
                                                                                                     participating lenders.
business exporters the ability to obtain              The program helps small businesses
larger export working capital loans through                                                            *The International Trade Loan is
                                                   engaged or preparing to engage in
the Export Working Capital Program than                                                              currently being reviewed for modification.
                                                   international trade as well as small
SBA could support alone. This program                                                                Please check with your local SBA District
                                                   businesses     adversely     affected    by
enables U.S. exporters to obtain loans that                                                          Office or U.S. Export Assistance Center for
                                                   competition from imports. This program
facilitate the export of goods or services.                                                          the latest information on this loan
                                                   allows for an increased maximum dollar
Under this program, the total export                                                                 program.
                                                   amount of SBA guaranty outstanding to
working capital line, with a 90 percent
guarantee, cannot exceed $2 million. Loan          any one business (and affiliates) from $1.5
maturities are generally for a term of 12          million to $1.75 million. In order to reach
months. At the end of the 12-month                 the $1.75 million SBA guaranty ceiling, the


Visit us online: www.sba.gov/ct                                                                             CONNECTICUT Small Business Resource —   29
EXPORT EXPRESS*                                    How to Apply
                                                      The application process is the same for
                                                                                                    The SBA 504 loan is distinguished from
                                                                                                  the SBA 7(a) loan program in these ways:
   The Export Express program is designed                                                         The maximum debenture, or long-term
                                                   the SBAExpress, except the applicant must
to help SBA meet the export financing                                                             loan, is:
                                                   demonstrate that loan proceeds will enable
needs of small businesses. It is a                                                                  • $1.5 million for businesses that create a
                                                   it to enter a new export market or expand
subprogram of SBAExpress and is therefore                                                             certain number of jobs or improve the
                                                   an existing export market. The applicant
subject to the same loan processing,                                                                  economy of the locality;
                                                   must submit to the lender a plan that            • $2 million for businesses that meet a
making, closing, servicing, and liquidation
                                                   includes projected export sales for the            specific public policy goal, including
requirements as well as the same maturity
                                                   upcoming year as well as the dollar volume         veterans; and
terms, interest rates, and applicable fees as                                                       • $4 million for manufacturers.
                                                   of export sales for the previous year.
for other SBA loans except as noted below.
                                                      *Terms and conditions of the Export              Recent additions to the program allow
The total Export Express loan cannot
                                                   Express, as noted above, are being             $4 million for each project that reduces the
exceed $250,000. SBA guarantees 85
                                                   evaluated for modification to include          borrower’s energy consumption by at least
percent for loans of $150,000 and under and
                                                   increased lending limit and transparency       10 percent; and $4 million for each project
75 percent for loans over $150,000 to
                                                   of processing.                                 that generates renewable energy fuels, such
$250,000. SBA allows participating lenders
                                                                                                  as biodiesel or ethanol production. Projects
to make their own credit decisions. SBA
                                                                                                  eligible for up to $4 million under one of
provides a quick processing time, less than        COMMUNITY ADJUSTMENT                           these two requirements do not have to meet
36 hours.                                          AND INVESTMENT PROGRAM                         the job creation or retention requirement, so
                                                      The Community Adjustment &                  long as the CDC portfolio average is at least
Eligible Buyers – The foreign buyer must
                                                   Investment Program helps communities           $50,000.
be a creditworthy entity located in an                                                              • Eligible project costs are limited to long-
                                                   that suffered job losses due to changing
acceptable country.                                                                                   term, fixed assets such as land and
                                                   trade patterns following the North
                                                                                                      building (occupied by the borrower) and
Use of Proceeds                                    American Free Trade Agreement. The                 substantial machinery and equipment.
  • Finance standby letters of credit used for     North American Development Bank has                Working capital is not an eligible use of
    either bid or performance bonds;               partnered with the SBA and the U.S.                proceeds.
  • Finance export development activities          Departments of Agriculture and the               • Most borrowers are required to make an
    such as export marketing and                   Treasury to make credit available to               injection (borrower contribution) of just
    promotional activities, participation in                                                          10 percent which allows the business to
                                                   businesses in affected communities to help
    foreign trade shows, translation of                                                               conserve valuable operating capital. A
    product literature for foreign markets,
                                                   create or retain jobs.                             further injection of 5 percent is needed if
    and other activities designed to initiate or   SBA’s non-7(a) Loan Programs                       the business is a start-up or new (less
    expand the applicant’s export of its              In addition to the 7(a) Loan Program SBA        than 2 years old) and a further injection of
    products/services from the U.S.;               has four other non-disaster assistance             5 percent is also required if the primary
  • Provide transaction-specific financing for     programs which can help small businesses           collateral will be a single purpose
    overseas orders;                               gain access to capital and bonding.                building.
  • Provide revolving lines of credit for                                                           • Two-tiered project financing: a lender
    export purposes, the term of which must                                                           finances approximately 50 percent of the
    not exceed seven years. In some
    instances, as a normal course of business,
                                                   CERTIFIED DEVELOPMENT                              project cost and receives a first lien on the
                                                                                                      project assets (but no SBA guaranty); A
    the borrower may use portions of               COMPANY LOAN PROGRAM                               CDC (backed by a 100% SBA-guaranteed
    revolving lines of credit for domestic
    purposes, but no less than 70 percent of
                                                   (504 LOANS)                                        debenture) finances up to 40% of the
                                                                                                      project costs secured with a junior lien.
    the revolver to be used for export related        The 504 Loan Program is an economic             The borrower provides the balance of the
    purposes;                                      development program that supports                  project costs.• Fixed interest rate on SBA
  • Provide term loans and other financing to      American small business growth and helps           loan. SBA guarantees the debenture 100
    enable small business concerns, including      communities through business expansion             percent. Debentures are sold in pools
    small business export trading companies        and job creation. This SBA program                 monthly to private investors. This low,
    to develop foreign markets; and                                                                   fixed rate is then passed on to the
                                                   provides long-term, fixed-rate, subordinate
  • Acquire, construct, renovate, modernize,                                                          borrower and establishes the basis for the
    improve or expand production facilities
                                                   mortgage financing for acquisition and/or          loan rate. A recent history of debenture
    or equipment to be used in the U.S. in the     renovation of capital assets including land,       rates may be found at www.nadco.org.
    production of goods or services to be          buildings and equipment. Most for-profit         • All project-related costs can be financed,
    exported from the U.S.                         small businesses are eligible for this             including acquisition (land and building,
                                                   program. The types of businesses excluded          land and construction of building,
Ineligible Use of Proceeds                         from 7(a) loans (listed previously) are also       renovations, machinery and equipment)
                                                   excluded from the 504 loan program.                and soft costs, such as title insurance and
   Proceeds may not be used to finance
                                                      Loans are provided through Certified            appraisals. Some closing costs may be
overseas operations, other than those                                                                 financed.
strictly associated with the marketing             Development Companies. CDCs work                 • Collateral is typically a subordinate lien
and/or distribution of products/services           with banks and other lenders to make loans         on the assets financed; allows other assets
exported from the U.S.                             in first position on reasonable terms,             to be free of liens and available to secure
                                                   helping lenders retain growing customers           other needed financing.
                                                   and provide Community Redevelopment
                                                   Act credit.



30 — Small Business Resource   CONNECTICUT                                                                                Visit us online: www.sba.gov/ct
                                                                                               Community Economic Development Fund
   • Long-term real estate loans are up to 20-
     year term, heavy equipment 10 or 20-year    MICROLOAN PROGRAM                                965 E. Main St.
     term and are self-amortizing.                  The Microloan Program provides small          Meriden, CT 06450
Businesses that receive 504 loans are:           loans ranging from under $500 to $35,000.        203-235-2333 or 888-835-2333
   • Small — net worth under $8.5 million, net   Under this program, the SBA makes funds          203-235-2913 Fax
     profit after taxes under $3 million, or                                                      N.cabrera@cedf.com
                                                 available to nonprofit intermediaries that,
     meet other SBA size standards.                                                               www.cedf.com
                                                 in turn, make the loans directly to
   • Organized for-profit.
                                                 entrepreneurs,      including    veterans.
   • Most types of business — retail, service,
     wholesale or manufacturing.                 Proceeds can be used for typical business     CHILD CARE FACILITIES
   The SBA’s 504 certified development           purposes such as working capital,             MICROLOAN PROGRAM
companies serve their communities by             machinery and equipment, inventory and          Recognizing the need to increase the
financing business expansion needs. Their        leasehold improvements. Interest rates are    availability of childcare to working
professional staffs works directly with          negotiated between the borrower and the       families, the State of Connecticut created
borrowers to tailor a financing package that     intermediary.                                 the School of Readiness and Child Day
meets program guidelines and the credit             For    more     information,   go    to    Care Initiative. The Child Care Facilities
capacity of the borrower’s business. For         www.sba.gov/services, then choose “SBA        Microloan Program is part of this initiative.
information, visit www.sba.gov/services,         Loans” from the links in the right-hand       The program is under the supervision of,
then choose “SBA Loans” from the links in        column. From there, click on “Micro           and financially supported by, the
the right-hand column.            Click on       Loans” or contact:                            Department of Social Services and
“CDC/504       Program.”       For     more      Connecticut Community Investment
                                                 Corporation                                   Education (DSS).
information, contact:                               2315 Whitney Ave., Ste. 2B                   DSS selected the Connecticut Health &
Connecticut Business Development                    Hamden, CT 06518                           Educational Facilities Authority (CHEFA)
Corporation                                         203-776-6172 ext. 132
     Edward Zelinsky
                                                                                               to manage the program on its behalf.
                                                    203776-6837 Fax                            CHEFA contracted with the Connecticut
     999 West St.                                   Cwelch@ctcic.org
     Rocky Hill, CT 06067                                                                      Community Investment Corporation
                                                    www.ctcic.org
     203-458-2765 • 203-257-7582 Fax                                                           (CTCIC) to be the lender for the program.
Connecticut Community Investment
Corporation
     Mark Cousineau
     2315 Whitney Ave., Ste. 2B
     Hamden, CT 06518
     203-776-6172 ext. 125
     203-776-6837 Fax

Greater New York Development Company
     (Fairfield and New Haven Counties)
     45 Seaman Ave.
     Bethpage, NY 11714
     866-433-5432 • 516-433-5046 Fax
     www.gnydc.org

Housatonic Industrial Development
Corporation
     Paul Hart, President
     57 North St., Ste. 407
     Danbury, CT 06810
     203-743-0306 • 203-744-0915 Fax

New England Certified Development
Corp.
     20 Church St., Ste. 1740
     Hartford, CT 06001
     Carol Brennan,
     Director of Business Development
     860-218-2912 • 860-218-2913 Fax
     or 781-928-1102 • 781-928-1100 Fax

Ocean State Business Development
Authority
     (Middlesex, New London & Windham
     Counties)
     Henry A. Violet, President
     155 S. Main St., Ste. 301
     Providence, RI 02903
     401-454-4630 • 401-454-4890 Fax



Visit us online: www.sba.gov/ct                                                                       CONNECTICUT Small Business Resource —   31
                                                                                                 Equinox Capital SBIC, L.P.
                                                                                                    Steven C. Rodger, Contact
                                                                                                    41 W. Putnam Ave.
                                                                                                    Greenwich, CT 06830
                                                                                                    203-622-1605 • 203-622-4684 Fax
                                                                                                    scr@equinoxcapitalinc.com

                                                                                                 First New England Capital 2, L.P.
                                                                                                    Richard Klaffky, Manager
                                                                                                    100 Pearl St.
                                                                                                    Hartford, CT 06103
                                                                                                    860-293-3333 • 860-293-3338 Fax
                                                                                                    rklaffky@fnec.com

                                                                                                 First New England Capital III, L.P.
                                                                                                    Richard C. Klaffky, President
  CTCIC obtained its funding to establish        debt     investments,     SBICs    provide
                                                                                                    100 Pearl St.
the loan fund for the program through the        managerial, operational and technical              Hartford, CT 06103
SBA Microloan Program.                           assistance. The SBIC Program provides              860-293-3333 • 860-293-3338 Fax
  The loan program was designed to assist        funding for a broad range of industries and        rklaffky@fnec.com
small business owners with start-ups and         stage of investment, in areas across the
expansion of childcare facilities and            country. Some SBICs invest in a particular      First New England Capital, LP
                                                                                                    Richard C. Klaffky, President
childcare providers in the state, both profit    field or industry while others invest more         100 Pearl St.
and nonprofit.                                   generally. Most SBICs concentrate on a             Hartford, CT 06103
  • Loan size is limited to $25,000              particular stage of investment such as start-      860-293-3333 • 860-293-3338 Fax
  • Loan proceeds may be used to purchase        up or expansion and focus on a specific            rklaffky@fnec.com
    equipment, furniture, fixtures and                                                              Investment Size Range
                                                 geographic area. For more information visit
    improvements, insurance premiums,                                                               Preferred Min: $500,000
    legal, design and planning fees, licensing   http://www.sba.gov/aboutsba/sbaprograms
                                                                                                    Preferred Max: $1,000,000
    and required approval costs.                 /inv/index.html or contact:                        Type of Capital Provided - Subordinated
  • Interest rate is fixed for the term of the   SBIC Licensees Located in Connecticut              Debt, Equity
    loan.
  • No application or origination fees.          Altus Capital Partners SBIC, L.P.               GreenLeaf Capital, L.P.
                                                    Russell Greenberg, Contact                      Michael B. Cowan, Contact
  Technical assistance is available free of
                                                    10 Wright St., Ste. 110                         130 Main St.
charge to all borrowers to assist them in the       Westport, CT 06880                              New Canaan, CT 06840
successful operation of the childcare               203-429-2006 • 203-429-2010 Fax                 203-716-6106 • 203-716-6206 Fax
business. For more information on this loan         rgreenberg@altuscapitalpartners.com             mcowan@whitney.com
program, contact:
Carolyn Welch                                    Brookside Mezzanine Fund II, L.P.               Ironwood Equity Fund LP
    Connecticut Community Investment                David D. Buttolph, Corey Sclar, Contact         Marc A. Reich, Contact
    Corporation                                     80 Field Point Rd.                              55 Nod Rd.
    203-776-6172 exts. 132 or 133                   Greenwich, CT 06830                             c/o Ironwood Capital Advisors LLC
    Cwelch@ctcic.org or dbrown@ctcic.org            203-618-0202 • 203-618-0984 Fax                 Avon, CT 06001
    www.ctcic.org                                   dbuttolph@brooksidegrp.com                      860-409-2101 • 860-409-2120 Fax
                                                                                                    reich@ironwoodcap.com
                                                 Brookside Pecks Capital Partners, L.P.
SMALL BUSINESS                                      David D. Buttolph, Corey Sclar; Contact      Ironwood Mezzanine Fund II LP
INVESTMENT COMPANY                                  80 Field Point Rd.
                                                    Greenwich, CT 06830
                                                                                                    Marc A. Reich, Contact
                                                                                                    55 Nod Rd.
PROGRAM                                             203-618-0202 • 203-618-0984 Fax
                                                    dbuttolph@brooksidegrp.com
                                                                                                    c/o Ironwood Capital Advisors LLC
   There are a variety of alternatives to bank                                                      Avon, CT 06001
                                                    Investment Size Range                           860-409-2101 • 860-409-2120 Fax
financing for small businesses, especially          Preferred Min: $3,000,000                       reich@ironwoodcap.com
business start-ups. The Small Business              Preferred Max: $6,500,000
Investment Company Program fills the gap            Type of Capital Provided - Subordinated      Ironwood Mezzanine Fund, L.P.
                                                    Debt                                            Marc Reich, President, Contact
between the availability of venture capital
and the needs of small businesses in start-                                                         55 Nod Rd.
                                                 Cygnet Capital Partners L.P. SBIC                  c/o Ironwood Capital Advisors LLC
up and growth situations. Licensed and              Owen S. Crihfield, Contact                      Avon, CT 06001
regulated by the SBA, SBICs are privately           c/o Hamilton Robinson LLC                       860-409-2101 • 860-409-2120 Fax
owned and managed investment funds                  281 Tresser Blvd., 4th Fl., Ste. 1000           reich@ironwoodcap.com
that make capital available to qualifying           Stamford, CT 06901                              Investment Size Range
                                                    203-602-0011 • 203-602-2206 Fax                 Preferred Min: $1,000,000
U.S. small businesses through investments           osc@hrco.com
or loans. They use their own funds plus                                                             Preferred Max: $4,000,000
                                                    Investment Size Range                           Type of Capital Provided - Subordinated
funds obtained at favorable rates with SBA          Preferred Min: $1,000,000                       Debt w/Warrants
guarantees. SBICs are for-profit firms              Preferred Max: $5,000,000
whose incentive is to share in the success of       Type of Capital Provided - Prefer Equity
                                                    Investments
a small business. In addition to equity and


32 — Small Business Resource   CONNECTICUT                                                                             Visit us online: www.sba.gov/ct
JHW Greentree Capital, L.P.                                                                     All other bonds guaranteed in the Plan A
     Michael B. Cowan, Contact                                                                  Program receive an 80 percent guarantee.
     130 Main St.                                                                               Sureties must obtain SBA’s prior approval
     New Canaan, CT 06840
     203-716-6106 • 203-716-6206 Fax                                                            for each bond guarantee issued. Under the
     mcowan@whitney.com                                                                         PSB Program, SBA guarantees 70 percent,
     Type of Capital Provided - Equity - 75%                                                    but sureties may issue, monitor and service
                                                                                                bonds without SBA’s prior approval.
Madison Investment Partners II, L.P.                                                              For more information on the Surety Bond
     Susan Goodrich, Contact
                                                                                                Guarantee Program, visit SBA’s Web site at
     82 Bradley Rd.
     Madison, CT 06443                                                                          www.sba.gov/osg or contact:
     203-949-0400 • 203-245-6945 Fax                                                            US Small Business Administration
     sgoodrich@madisonpartners.com                                                                  Supervisory Surety Bond Specialist
                                                                                                    Darryl Bellamy
Marketing 1 to 1 Ventures, L.P.                                                                     721 19th St., Ste. 426
     Bruce Blasnik, Contact                                                                         Denver, CO 80201-0660
                                                Valentis SB, L.P.                                   303-844-2607 ext.261 • 303-844-5237 Fax
     One Stamford Landing, Ste. 101
                                                   Paul M. Jacobi
     Stamford, CT 06902
                                                   411 West Putnam Ave.                         Northeast Surety, LLC
     203-325-4000 • 203-967-8733 Fax
                                                   Greenwich, CT 06830                              3 Forest Park Dr.
     bruceb@1to1ventures.com
                                                   203-862-7074 • 203-862-7374 Fax                  Farmington, CT 06032
                                                   pjacob@wexford.com                               860-674-0123 • 860-674-0170 Fax
MSR I SBIC, L.P.
                                                                                                Suggs & Associates Insurance Company,
     Daniel A. Levinson
     120 Post Rd. W., Ste. 101
     Westport, CT 06880
                                                THE SURETY BOND                                 LLC
     203-227-5320 • 203-227-5312 Fax            GUARANTEE PROGRAM                                   33 Canterbury Ln.
                                                                                                    Windsor, CT 06095
     mt@mainstreetresources.com                    The Surety Bond Guarantee Program is a           860-688-5445 • 860-688-5993 Fax
RFE Investment Partners V, L.P.                 public-private partnership between the
     James A. Parsons, General Partner          federal government and the surety               Global Indemnity, LLC
     36 Grove St.                               industry providing small businesses with            195 Scott Swamp Rd.
     New Canaan, CT 06840                       the bonding assistance necessary for them           Farmington, CT 06032
     203-966-2800 • 203-966-3109 Fax                                                                860-676-8830 • 860-676-1928 Fax
                                                to compete for government and private               www.suretyllc.com
     djuricic@rfeip.com                         contracting opportunities. The guarantee
     Investment Size Range
     Preferred Min: $5,000,000                  provides the necessary incentive for            The Surety Source
     Preferred Max: $9,000,000                  sureties to bond small businesses that              One Britton Place, Ste. 6
     Type of Capital Provided - Prefer Equity   would otherwise be unable to obtain                 Voorhees, NJ 08043
     Investments                                                                                    856-761-0152 • 856-761-0491 Fax
                                                bonding. The program is aimed at small
                                                                                                    Contact: Steve Golia
                                                businesses that lack the combination of
RFE VI SBIC, L.P.
                                                working capital and performance track
                                                                                                Internet Resources
     James Parsons, Managing Member.
     36 Grove St.                               record necessary to secure bonding on a
     New Canaan, CT 06840                       reasonable     basis     through      regular
     203-966-2800 • 203-966-3109 Fax            commercial channels.                             Internet resources are vast and search engines are
     djuricic@rfeip.com                            Through this program, the SBA                 numerous. With a little browsing practice you can find
     Investment Size Range                      guarantees bid, payment, performance and         almost information you need on line.
     Preferred Min: $8,000,000
     Preferred Max: $15,000,000                 necessary ancillary bonds issued by surety
                                                                                                 However, here are some primary sites we find valuable to
     Type of Capital Provided - Prefer Equity   companies for individual contracts of up to
                                                                                                 help you start and/or grow your business in Connecticut.
     Investments                                $2 million ($5 million under the American
                                                Recovery and Reinvestment Act) on behalf         SBA and other Federal sites:
Saugatuck Capital Company, L.P. IV, SBIC        of eligible small construction, service, and
     Frank Hawley, Thomas Berardino                                                              www.sba.gov
     187 Danbury Rd.
                                                supply contractors. The SBA reimburses
                                                sureties a predetermined percentage of           www.sba.gov/ct
     Wilton, CT 06897                                                                            www.business.gov
     203-348-6669 • 203-324-6995 Fax            losses sustained if a contractor breaches the    www.economicrecovery.gov – making the best of troubled
     TBerardino@saugatuckcapital.com            terms of the contract.                           times
                                                   The SBA has two program options               www.expectmore.gov – improving the performance of your
TD Lighthouse Capital Fund, L.P.                available, the Prior Approval Program            Federal programs
     Two Greenwich Plaza, 4th Fl.
     Greenwich, CT 06830                        (Plan A) and the Preferred Surety Bond
                                                                                                 Connecticut Economic Development sites:
     203-629-8700                               Program (Plan B). In the Prior Approval
                                                Program, SBA guarantees 90 percent of a          www.ct.gov
TD Lighthouse Capital Fund, L.P.                surety’s paid losses and expenses on             www.youbelonginct.com
     Joan Neuscheler, Contact                   bonded contracts up to $100,000, and on          www.ct-clic.com – the Connecticut Licensing Center
     c/o Tullis Dickerson & Co., Inc.                                                            www.cerc.com – the Connecticut Economic Resource
     One Stamford Plaza, 263 Tresser Blvd.
                                                bonds for socially and economically
                                                disadvantaged and HUBZone contractors            Center and Business Response Center
     Stamford, CT 06901
     203-629-8700 • 203-629-9293 Fax            and veterans and service-disabled veterans.
     mmcleish@tullisdickerson.com

Visit us online: www.sba.gov/ct                                                                           CONNECTICUT Small Business Resource —             33
34 — Small Business Resource   CONNECTICUT   Visit us online: www.sba.gov/ct
                                               BUSINESS PREPARATION

                                    SMALL BUSINESS
                  TRAINING NETWORK
                                How to Get Equipped With Business Intelligence




            he Small Business Training          Key Features of the SBTN:


T
tools and direct access to electronic
counseling and other forms of technical
assistance.
            Network is an Internet-based
            training site. It provides small
            businesses with free online
            courses, workshops, learning
                                                 • Training is available anytime and
                                                   anywhere—all you need is a computer
                                                   with Internet access.

                                                 • More than 23 free online courses and
                                                   workshops available
                                                                                            • Online, interactive assessment tools are
                                                                                              featured and used to direct clients to
                                                                                              appropriate training.

                                                                                           Find the SBTN at
                                                                                          www.sba.gov/training.




36 — Small Business Resource   CONNECTICUT                                                                     Visit us online: www.sba.gov/ct
                                           CONTRACTING OPPORTUNITIES

                FEDERAL PROCUREMENT
                    OPPORTUNITIES         How to Apply for Government Contracts
       The federal government is
       t he large st pu rc has er of
       goods and services in the
       world. However, small businesses
       face challenges when trying to win
       federal contracts. The SBA can help
       small businesses work through these
       challenges. Working closely with
       federal agencies and the nation’s
       leading large contractors, the SBA
       works to ensure that small
       businesses obtain a fair share of
       government         contracts    and
       subcontracts. The SBA has a number
       of programs to help small firms do
       business     with     the    federal
       government.
       For more information, visit:
       www.sba.gov/gc

 THE PRIME
 CONTRACTS PROGRAM                               THE SUBCONTRACTING                             Connecticut residents should contact:

    Through the Prime Contracts Program,         ASSISTANCE PROGRAM                           New York District Office:
                                                                                                  212-264-7756
 the SBA helps to ensure small businesses           The Subcontracting Assistance Program
                                                                                                  or
 get fair opportunities to share federal         promotes maximum use of small                    Malinda Chen: malinda.chen@sba.gov
 government prime contracts. SBA                 businesses by the nation’s large prime           Sandy Liu: sandy.liu@sba.gov
 procurement center representatives work         contractors. The SBA’s commercial market         Paul Taravella: paul.taravella@sba.gov
 to expand contracting opportunities for         representatives work with large businesses
 small businesses. PCRs review contracting       to identify and expand subcontracting
                                                 opportunities for small businesses. CMRs
                                                                                              THE CERTIFICATE OF
 strategies and actions, to identify contracts
 for which small businesses can compete.         conduct compliance reviews to ensure that    COMPETENCY PROGRAM
    Visit the SBA’s Office of Government         large businesses comply with small              The Certificate of Competency program
 Contracting home page at: www.sba.gov/gc        business subcontracting requirements.        allows a small business to appeal a
 for a listing of PCRs and buying                They also provide guidance to assist small   contracting officer's determination that it is
 installations nationwide.                       businesses in identifying subcontracting     unable to fulfill the requirements of a
    Connecticut residents should contact:        opportunities and marketing their products   specific government contract on which it is
                                                 and services to these large contractors.     the apparent successful offeror. The SBA
 Ben Manzano                                        CMRs also work with agencies to ensure    will conduct a detailed review of the firm’s
       Office of Government Contracting          subcontracting with small and small,         technical and financial capabilities to
       10 Causeway St., Rm. 416                  disadvantaged businesses, women-owned        perform on the contract. If the business
       Boston, MA 02222                          small businesses, HUBZone firms and
       617-565-5587
                                                                                              demonstrates the ability to perform, the
       Ben.manzano@sba.gov                       small businesses owned by service-           SBA issues a certificate of competency to
                                                 disabled veterans through inclusion of       the contracting officer, requiring award of
                                                 subcontracting evaluation factors and sub-   that contract to the small business.
                                                 factors.

Visit us online: www.sba.gov/ct                                                                     CONNECTICUT Small Business Resource —   37
CONNECTICUT                                        The SBA has also established a table of
                                                size standards, matched to North American
                                                                                                   business type, ownership, SBA certification,
                                                                                                   and by women, minority, veteran and
PROCUREMENT TECHNICAL                           Industry Classification System industries,         service-disabled veteran ownership. The
ASSISTANCE PROGRAM                              used to determine eligibility for SBA
                                                programs and small business preferences
                                                                                                   DSBS serves as a marketing tool for small
                                                                                                   businesses because the business profiles in
(PTAP)                                          for federal government contracts.                  the DSBS include information from SBA’s
   The Connecticut Procurement Technical           See more at: http://www.sba.gov/services/,      files and other available databases plus
Assistance Program (PTAP) is designed to        then click on “Size Standards” under the           additional business and marketing
provide marketing and technical assistance      “Contracting Opportunities” menu across            information on individual firms.
to Connecticut businesses, which sell, or       the bottom.                                            To search the DSBS for small businesses,
wish to sell their products and services to                                                        click on: http://dsbs.sba.gov/dsbs/search/
federal, state and local government             Size Determination                                 dspdsbs.cfm or select the “Dynamic Small
agencies. The U.S. Department of Defense          The Size Determination Program,                  Business Search” at the CCR Web site at:
(DOD), Defense Logistics Agency (DLA)           administered by SBA’s six government               http://www.ccr.gov.
and the State of Connecticut, Department        contracting area offices, ensures that only            Registration in the DSBS is through the
of     Economic         and     Community       small firms receive contracts and other            CCR. For more information on CCR, or to
Development (DECD) provide funding for          benefits reserved exclusively for small            register, click the CCR Web site. Before
PTAP.                                           businesses. When a firm’s claim that it is         registering in CCR, go to the top of the Web
   PTAP is staffed by counselors having         small is challenged, the SBA determines if         page and download the handbook which
varied backgrounds in government                the firm, including all of its affiliates, meets   contains data for a successful registration.
purchasing and contracting that includes        established SBA size standards. Size
                                                determinations may also be made when
experience in federal, military, state and
municipal procurement along with private        requested in connection with other federal         HUBZONE PROGRAM
                                                small business programs.                              The Historically Underutilized Business
sector government bidding. Some of the
                                                  Additional information is available at the       Zone Program stimulates economic
services provided are: one-on-one
                                                above “Size Standards” site.                       development and creates jobs in urban and
counseling sessions; free electronic bid
                                                                                                   rural communities by providing federal
notification; access to matchmaking events                                                         contracting assistance to small businesses.
sponsored by the DOD Northeast Regional
Council; marketing assistance including
                                                SMALL BUSINESS VENDOR                                 The HUBZone program establishes

subcontracting; proposal and bid                DATABASE                                           preferences for award of federal contracts
                                                                                                   to small businesses located in historically
preparation; access to training conducted          The SBA works with the integrated               underutilized business zones.
by federal agencies; and obtaining specs        acquisition community to provide a                    In general, small businesses may obtain
and standards along with pricing histories.     database of vendors, including small               HUBZone certification by employing staff
   PTAP services are offered at no charge to    businesses. The Central Contractor                 who live in a HUBZone and maintaining a
Connecticut companies. A fee to cover costs     Registration System is the primary gateway         “principal office” in one of these specially
may be charged for seminars.                    vendor and grantee database for the federal        designated areas.
   For more information on PTAP, visit          government. CCR collects, stores and               SBA is responsible for:
their web site at: www.ctptap.org or contact:   disseminates data to support agency                  • Determining whether or not individual
Brien Robertson, Program Director               acquisition and grants missions. Both                  concerns are qualified HUBZone small
    CT PTAP New London Office                   current and potential federal government               business concerns, and therefore eligible
    190 Governor Winthrop Blvd., 4th Fl.                                                               to receive HUBZone contracts;
                                                vendors and grantees are required to                 • Maintaining a list of qualified HUBZone
    New London, CT 06320-6633
    888-673-2837 ext. 208                       register in CCR to receive federal contracts           small business concerns for use by
    brobertson@secter.org                       or grants. Vendors are required to complete            acquisition agencies in awarding
    www.ctptap.org                              a one-time registration to provide basic               contracts under the program; and
                                                information relevant to procurement, grant           • Adjudicating protests and appeals of
                                                                                                       eligibility to receive HUBZone contracts.
SMALL BUSINESS                                  and financial transactions.
                                                   Vendors must update or renew their              To qualify for the program, a business
SIZE STANDARDS                                  registration at least once a year to maintain      must meet the following criteria:
   The Small Business Act states that a                                                              • It must qualify as a small business under
                                                an active status. The SBA provides the CCR
                                                                                                       SBA size standards, corresponding to its
small business concern is “one that is          with authoritative source information                  primary industry classification;
independently owned and operated and            regarding certifications under 8(a) Business         • Its principal office must be located within
which is not dominant in its field of           Development and HUBZone programs and                   a HUBZone, which includes lands on
operation.” The law also states that in         provides the small business size status                federally recognized Indian reservations
determining what constitutes a small            against each North American Industry                   and covered by the phrase “Indian
business, the definition will vary from                                                                Country”;
                                                Classification code listed in a registrant’s
                                                                                                     • It must be owned (at least 51 percent) by
industry to industry to reflect industry        profile.                                               one or more U.S. citizens, Community
differences accurately. The SBA’s Small            SBA maintains the Dynamic Small                     Development           Corporation,       an
Business Size Regulations (13 CFR Part 121,     Business Search function of the CCR.                   agricultural cooperative, an Indian tribe;
www.sba.gov/size/indextableofsize.html)         Businesses profiled on the DSBS can be                 and
implement the Small Business Act’s              searched by NAICS codes, keywords,                   • At least 35 percent of its employees must
mandate to the SBA.                             location, quality certification, bonding level         reside in a HUBZone.


38 — Small Business Resource   CONNECTICUT                                                                                Visit us online: www.sba.gov/ct
   Existing businesses that choose to move        Social disadvantage:                             individuals who are members of certain
to qualified areas are eligible. To fulfill the      Socially disadvantaged is defined as          ethnic groups are presumed to be
requirement that 35 percent of a HUBZone          individuals who have been subjected to           disadvantaged. Other persons, including
firm’s employees reside in a HUBZone,             racial or ethnic prejudice or cultural bias      women and persons of any race, can also
employees must live in a primary residence        because of their identity as a member of a       qualify by establishing their disadvantaged
within that area for at least 180 days or be a    group without regard to their individual         status.
currently registered voter in that area.          capabilities. The following individuals are         Firms seeking to be SDB-certified may
   For additional information regarding           presumed to be socially disadvantaged:           certify themselves for federal prime
the HUBZone Program, please visit:                Black Americans, Native Americans,               contracts and federal subcontracts without
http://www.sba.gov/services/contractingoppo                                                        submitting any application to SBA for SDB
                                                  Hispanic Americans, Asian Pacific
rtunities/contracting/hubzone/index.html/.                                                         certification.
                                                  Americans and Subcontinent Asian
   In Connecticut, contact:                                                                           To self-represent as small disadvan-
                                                  Americans. An individual who is not a
Hugh Curley                                                                                        taged businesses, firms should:
                                                  member of one of the groups presumed to            1) Update their Central Contractor
     860-240-4650
                                                  be socially disadvantaged must establish              Registration (CCR) profile, ensuring they
     hugh.curley@sba.gov
                                                  individual social disadvantage by a                   select they are a self-certified Small
                                                  preponderance of the evidence. Anyone                 Disdavantaged Business; and
ASSISTANCE FOR SMALL AND                          may apply for 8(a) Program certification.          2) Update      their   company's        Online
                                                                                                        Representation       and      Certification
DISADVANTAGED BUSINESSES                             For additional information regarding
                                                  evidence of social disadvantage, please
                                                                                                        Application - specifically, the Federal
8(a) Business Development                         visit:        http://www.sba.gov/aboutsba/
                                                                                                        Acquisition Regulation clause at 52.219-
                                                                                                        1(b)(2), entitled “Small disadvantaged
Program                                           sbaprograms/8abd/index.html.                          business concern,” and check the box
                                                                                                        indicating they are a self-certified SDB.
   The SBA’s Section 8(a) Business                Economic disadvantage:                              Other than its list of certified 8(a) firms,
Development Program provides various                 Economically disadvantaged individ-           SBA will no longer maintain a list of
forms of assistance (management and               uals are socially disadvantaged individuals      certified SDB firms. The 8(a) Business
technical assistance, financial assistance,       whose ability to compete in the free-            Development Program is not affected by
government contracting assistance and             enterprise system has been impaired due to       this rule. Firms may continue to apply on-
advocacy support) to foster the growth and        diminished capital and credit opportunities      line for 8(a) Certification.
development of businesses owned and               as compared to others in the same or
controlled by one or more socially and            similar line of business who are not socially    Applying Online For 8(a) Program
economically disadvantaged individuals.           disadvantaged.                                   Certification
SBA assists these businesses, (during a
                                                                                                   Prior to applying for the 8(a) Program, each
nine-year tenure in the 8(a) Business             Net worth:                                       firm is urged to take an on-line training and
Development Program), to gain access to              For initial 8(a) Program certification, the   self-evaluation course. To get to the course,
the resources necessary to develop their          net worth of an individual claiming              click on www.sba.gov, then choose the
businesses and improve their ability to           disadvantage, must be less than $250,000.        drop-down menu “Services.” Click on
compete in the mainstream of the                  For continued 8(a) Program eligibility after     “Contracting Opportunities For Small
American economy.                                 admission, net worth must be less than           Business Owners,” then open the “SBA
   Business    development       assistance       $750,000. In determining such net worth,         Program Office” listing underneath “Local
includes one-to-one counseling, training          SBA will exclude the ownership interest in       Resources” on the right-hand column.
workshops, and other management and               the applicant business and the equity in the     From there, click on 8(a) Business Dev.
technical guidance required to expand into        primary residence.                               Then from the center area, click on “Apply
the federal government contracting arena.                                                          for 8(a) Business Development Program
   The SBA enters into contracts with other       Day-to-Day Management:                           Certification. The first section of the online
federal agencies and subcontracts the               • Management and daily business                course explains the 8(a) Program in detail,
performance of such contracts to eligible             operations must be controlled by the         ending in an eligibility self-assessment test.
8(a) program participants.                            disadvantaged individual(s) upon whom        The test consists of a series of simple yes or
                                                      eligibility is based.                        no questions that evaluate the degree to
                                                    • The       individual(s)  must      have      which your firm meets the basic
Eligibility Criteria:                                 management or technical expertise.
To participate in the 8(a) program, a                                                              qualifications for the 8(a) Program. If you
                                                    For additional information on the 8(a)         meet the basic eligibility criteria, you will
business must be:
                                                  Business Development Program, visit:             be allowed to apply immediately for the
  • a small business concern
  • owned by one or more U.S. citizens            http://www.sba.gov/aboutsba/sbaprograms/         8(a) Program via the electronic on-line
  • at least 51 percent unconditionally owned     8abd/index.html.                                 system. If key eligibility criteria are not met,
    and controlled by one or more an                                                               you will be directed to the SBA resource
    individual(s) who qualify as socially and     Small Disadvantaged Business                     deemed most appropriate to help you at
    economically disadvantaged                    Certifications                                   this time. If you would still prefer at this
  • established for two full years before            To qualify as a small disadvantaged           time to apply using the electronic system,
    applying (or qualifying for a waiver of
                                                  business, a firm must be owned and               please send an e-mail to BDMIS@sba.gov
    the two-year rule)
                                                  controlled by one or more individuals who        for further guidance and assistance. The
                                                  are     socially     and     economically        average processing time for an electronic
                                                  disadvantaged. Congress has directed that        application is ninety days.


Visit us online: www.sba.gov/ct                                                                            CONNECTICUT Small Business Resource —   39
Paper Applications for 8(a) BD                    (11), 7(j) (10), or 8(a) of the Small Business        Additionally, a contracting officer may
Program Certification                             Act. Specifically, the following are eligible    set aside contracts for competition
 For a paper application, simply send a           to receive management and technical              restricted to small business concerns
written request to:                               assistance including businesses which            owned and controlled by service-disabled
                                                  qualify as small under 13/CFR part 121 of        veterans if the contracting officer
U.S. Small Business Administration                this title: concerns located in urban or rural   reasonably expects two or more small
    Associate Administrator for Business          areas with high proportions of                   businesses owned and controlled by
    Development                                   unemployed or low-income individuals, or         service-disabled veterans will submit offers
    Office of Business Development
                                                  which are owned by such low-income               and that the award can be made at a fair
    409 Third St., S.W., 8th Fl.
    Washington, DC 20416                          individuals; and businesses eligible to          market price.
   A paper application will be forwarded to       receive 8(a) contracts.                             Veterans and service-disabled veterans
you. Please complete the paper application           The types of assistance available to          may participate in all SBA procurement
and return it to the above address. Data in       eligible      individuals      through     the   programs. To determine your eligibility,
your application will be retyped in the           Management and Technical Assistance              contact your local veterans business
electronic system, printed out, and sent          Program include counseling and training in       development officer in your nearest SBA
back to you for verification. If any errors are   the areas of:                                    district office, visit the various program
                                                    •   Finance                                    Web sites or contact the SBA’s Office of
found, you must return the application to
                                                    •   Management                                 Veterans Business Development at
the SBA with the corrections. They will be          •   Accounting
entered into the on-line application, and                                                          www.sba.gov/vets.
                                                    •   Bookkeeping
another paper copy will be sent to you for
                                                                                                   In Connecticut, contact:
                                                    •   Marketing and presentation analysis
verification. This process will continue until      •   Advertising
the application contains no errors. At that         •   Loan packaging
                                                    •   Proposal bid preparation                   Greta Johansson
time, please sign and return the completed
                                                    •   Feasibility studies                            860-240-4672
application to the SBA for processing               •   Industry specific technical assistance         greta.johansson@sba.gov
within the 90-day timeframe.                        •   The identification and development of
                                                        new business opportunities                     or
The Mentor-Protégé Program for                       More information is at:
8(a) Participants                                 http://www.sba.gov/aboutsba/sbaprograms/         Stephanie Scott
    Through the SBA’s Mentor-Protégé                                                                   860-240-4637
                                                  8abd/grantinfo/index.html.
                                                                                                       stef.scott@sba.gov
Program, 8(a) Program participants can
receive in-depth business advice to assist
them in becoming more competitive in
                                                  SERVICE-DISABLED,
obtaining federal government contracts.           VETERAN-OWNED SMALL                              SMALL BUSINESS
The SBA’s Mentor-Protégé Program
encourages private-sector relationships and
                                                  BUSINESS                                         INNOVATION
broadens efforts to address the needs of             In 1999, public law established federal
                                                  procurement opportunities for veterans
                                                                                                   RESEARCH PROGRAM
clients in the 8(a) Program.                                                                          The SBIR Program encourages small
    If you are an 8(a) participant, mentors       and service-disabled veterans. In 2003, the
                                                                                                   businesses to explore their technological
can provide you with technical and                Small       Business    Act    established
                                                                                                   potential by reserving a specific percentage
management           assistance,    financial     procurement vehicles for small businesses
                                                                                                   of federal research and development funds
assistance in the form of equity investments      owned and controlled by service-disabled
                                                                                                   for small businesses. The program serves
or loans, subcontract support, and                veterans.
                                                                                                   to fund the critical startup and
assistance in performing prime contracts             Contracting officers may award a sole-
                                                                                                   development stages for a technology and
through joint-venture arrangements with           source or set-aside contract to a small
                                                                                                   encourages commercialization of the
8(a) businesses.                                  business owned by a service-disabled
                                                                                                   technology, product or service. In turn, this
    For     more       information,     visit:    veteran if:
                                                    • The business is a responsible contractor
                                                                                                   stimulates the U.S. economy.
http://www.sba.gov/aboutsba/sbaprograms/8             able to perform the contract, and the           The Connecticut SBIR Office was
abd/mentorprogram/index.html.                         contracting officer does not reasonably      established in July, 2004. The Office is
                                                      expect two or more small businesses          located in East Hartford at 111 Founders
                                                                                                   Plaza, Suite 1002 as part of the Connecticut
MANAGEMENT AND                                        owned and controlled by service-
                                                      disabled veterans will submit offers.        Center for Advanced Technology (CCAT).
TECHNICAL ASSISTANCE                                • The anticipated award price of the
                                                      contract (including options) won’t exceed
                                                                                                   The CT SBIR Office, funded by the Office
                                                                                                   for Workforce Competitiveness, was
   SBA’s Section 7(j) Management and                  $5.5 million in case of a contract           created to reach out and engage more
Technical Assistance Program authorizes               opportunity assigned a North American        Connecticut technology firms in the
the SBA to enter into grants, cooperative             Industry Classification System code for      national $2.5 billion Small Business
agreements and contracts with public or               manufacturing; or                            Innovation Research program. Recent
private organizations to pay all or part of         • $3.5 million in the case of any other        analysis shows that Connecticut firms may
                                                      contract opportunity;                        be missing significant opportunities to
the cost of technical or management
                                                    • In the estimation of the contracting         compete for and win federal funding to
assistance for individuals or concerns                officer, the contract award can be made at
eligible for assistance under sections: 7(a)                                                       develop new products. The Office can assist
                                                      a fair and reasonable price.                 in determining qualification, facilitating the

40 — Small Business Resource   CONNECTICUT                                                                                  Visit us online: www.sba.gov/ct
creation of competitive proposals which, if        Participating Agencies:                              • The research institution must conduct at
awarded, increases the rate of new                    Each year, the following 11 federal                 least 30 percent of the work.
technology and product development                 departments and agencies are required to
leading to commercialization and job               reserve a portion of their R&D funds for           Participating Agencies:
creation.                                                                                               Each year the following five Federal
                                                   award to small business: Departments of
  The SBIR Program represents a way to                                                                departments and agencies are required by
increase a small company’s R&D budget              Agriculture;     Commerce;      Defense;
                                                   Education; Energy; Health and Human                STTR to reserve a portion of their R&D
without taking on debt or giving up equity.                                                           funds     for     award      to    small
  The Program is a 3-Phase Program.                Services;       Homeland        Security;
                                                   Transportation; Environmental Protection           business/nonprofit research institution
  • Phase I $100K – prove feasibility –
    6 months                                       Agency; National Aeronautics and Space             partnerships: Department of Defense;
  • Phase II $750K – build a prototype –           Administration; and National Science               Department of Energy; Department of
    2 years
                                                   Foundation.                                        Health and Human Services; National
  • Phase III Commercialization - Use of                                                              Aeronautics and Space Administration;
    Non SBIR funds                                                                                    and National Science Foundation.
   The Connecticut SBIR Office offers a            SMALL BUSINESS
variety of services in support of this
Program including but not limited to:
                                                   TECHNOLOGY TRANSFER                                TECH-NET
  • Matchmaking
  • Proposal and feedback reviews
                                                   PROGRAM                                               TECH-Net is an Internet-based database
                                                      This STTR program reserves a specific           of information containing Small Business
  • Events – Including the 2008 Fall National                                                         Innovation Research awards and Small
    SBIR Conference                                percentage of federal R&D funding for
                                                   award to small business and nonprofit              Business Technology Transfer awards.
  • Grants
  • Referrals                                      research institution partners. Small                  It is a search engine and electronic
  • Awareness Building                             business has long been where innovation            gateway of technology information and
    For more information on the SBIR               and innovators thrive. But the risk and            resources for and about small high-tech
Program, contact:                                  expense of conducting serious R&D efforts          businesses. It is a tool for researchers,
Deborah A. Santy, SBIR Program Director            can be beyond the means of many small              scientists, state, federal and local
     222 Pitkin St., Ste. 101                                                                         government officials, a marketing tool for
     East Hartford, CT 06108
                                                   businesses. Conversely, nonprofit research
                                                   laboratories are instrumental in developing        small firms and a potential “link” to
     860-282-4209
     dsanty@ccat.us                                high-tech innovations. But frequently,             investment opportunities for investors and
     www.ccat.us/sbir/                             innovation is confined to the theoretical,         other sources of capital.
                                                   not the practical. STTR combines the                  TECH-Net is a free service for those
U.S. Small Business Administration                 strengths of both entities by introducing          seeking small business partners, small
     Office of Technology                          entrepreneurial skills to high-tech research       business contractors and subcontractors,
     409 Third St. S.W., Mail Code: 6470                                                              leading edge technology research, research
     Washington, DC 20416                          efforts. The technologies and products are
                                                   transferred from the laboratory to the             partners,      (e.g.    small    businesses,
     202-205-6450
                                                   marketplace. The small business profits            universities, federal labs and non-profit
                                                   from the commercialization, which, in turn,        organizations), manufacturing centers and
SBIR Requirements:
                                                   stimulates the U.S. economy.                       investment opportunities.
   Small businesses must meet the
                                                                                                         TECH-Net is available at:
following eligibility criteria to participate in
                                                   STTR Requirements:                                 http://tech-net.sba.gov/index.cfm.
the SBIR program.
  • Be 51 percent owned and controlled by             Small businesses must meet the
    one or more individuals who are U.S.           following eligibility criteria to participate in
    citizens or permanent resident aliens in       the STTR Program.
    the U.S. or be a for-profit business             • Be 51 percent owned and controlled by
    concern that is at least 51 percent owned          one or more individuals who are U.S.
    and controlled by another for-profit               citizens or permanent resident aliens in
    business concern that is at least 51 percent       the U.S.
    owned and controlled by one or more              • Be organized for profit.
    individuals who are citizens of, or              • Principal researchers need not be
    permanent resident aliens in, the U.S.             employed by small business.
  • Be organized for profit.                         • Small business must conduct at least 40
  • Principal researcher must be employed              percent of the work.
    by small business.                               • Company size cannot exceed 500
  • Company size cannot exceed 500                     employees. (No size limit for nonprofit
    employees.                                         research institution).
   For more information on the SBIR
Program visit www.sba.gov/aboutsba/sba             The nonprofit research institution partner
programs/sbir/index.html or contact:               must also meet certain eligibility criteria:
U.S. Small Business Administration                   • Be located in the United States and be one
     Office of Technology                              of the following:
     409 Third St. S.W., 8th Fl.                     • Nonprofit college or university.
     Washington, DC 20416                            • Domestic         nonprofit        research
     202-205-6450                                      organization.
     Robert.connolly@sba.gov                         • Federally funded R&D center.


Visit us online: www.sba.gov/ct                                                                              CONNECTICUT Small Business Resource —   41
                                                 DISASTER RECOVERY &

         DISASTER ASSISTANCE
                        Knowing the Types of Assistance Available for Recovery
                                                                                                 available elsewhere (the ability to borrow
                                                                                                 or use their own resources to overcome the
                                                                                                 disaster).
                                                                                                    More information on all of SBA’s
                                                                                                 disaster assistance programs is at:
                                                                                                 http://www.sba.gov/services/disasterassistan
                                                                                                 ce/index.html. Information for military
                                                                                                 reservists called to active duty is at
                                                                                                 www.sba.gov/reservists.

                                                                                                 Disaster Preparedness
                                                                                                    For small businesses, surviving a
                                                                                                 disaster doesn’t begin with clearing the
                                                                                                 debris and returning to work.
                                                                                                    Surviving begins long before the disaster
                                                                                                 strikes, or before active-duty orders are
            he disaster program is SBA’s         result of the disaster event, is $2 million.    received – with proper planning. Your




T           largest direct loan program,         These working capital loans are intended to     planning should include insurance
            and the only SBA program for         be made to entities without credit              coverage, emergency power, protection of
            entities other than small            elsewhere, as determined by SBA, to help        company records, fire safety, medical
            businesses. SBA is responsible       pay ordinary and necessary operating            emergencies, taking care of your employees
for providing affordable, timely and             expenses that would have been payable           and continuity planning – how your
accessible    financial     assistance    to     barring the disaster event. The limit for       business will continue during and after the
                                                 physical and EIDL loans combined is $2          emergency or disaster.
homeowners, renters, businesses of all sizes
                                                 million.                                           Starting is as easy as clicking on the
and private, non-profit organizations
                                                                                                 SBA’s Disaster Preparedness Web site at:
following declared disasters. By law,
                                                 Military Reservist Economic Injury              http://www.sba.gov/services/disasterassistan
governmental units and agricultural
                                                    Military Reservists Economic Injury          ce/disasterpreparedness/index.html. The site
enterprises are ineligible.
                                                 Disaster Loans, a type of economic injury       includes a wealth of information on the
     The SBA is authorized by the Small
                                                 loan, are available for up to $2 million to     SBA’s disaster recovery programs for
Business Act to make two types of disaster
                                                 assist eligible small businesses meet their     homeowners and renters, and businesses of
loans:                                                                                           all sizes. There are articles on emergency
                                                 ordinary and necessary operating expenses
                                                 that they could have met, but are unable to     planning for disasters, descriptions of
Physical Disaster Loans                          meet, because an essential employee was         SBA’s programs, and links to government
   Physical Disaster Loans are the primary       “called up” to active duty in his/her role as   and industry Web sites with great planning
source of funding for permanent rebuilding       a military reservist. These loans are           information.
and replacement of uninsured or                  intended to provide only the amount of             There is also a link to www.ready.gov,
underinsured disaster damages to                 working capital needed by a small business      the Department of Homeland Security’s
privately-owned real and/or personal             to pay its necessary obligations as they        Web site for home and business disaster
property. SBA’s physical disaster loans are      mature until operations return to normal        planning.
available to homeowners, renters,                after the essential employee is released           Small- to medium-sized businesses are
businesses of all sizes and private nonprofit    from active military duty.                      the most vulnerable in an emergency. A
organizations of all sizes. The loan limit for      For all disaster loans, SBA can only         plan can help protect your company and
personal property (for homeowners and            approve loans to applicants having a credit     enhance its potential to recover after an
renters) is $40,000 and the loan limits for      history acceptable to SBA and who also          emergency.
real estate are $200,000 for homeowners          show the ability to repay all loans. The           The       ready.gov      site     contains
and $2 million for businesses.                   terms of each loan are established in           downloadable publications detailing the
                                                 accordance with each borrower’s ability to      planning you’ll need to stay in business
Economic Injury Disaster Loans                   repay. The law gives SBA several powerful       after a disaster strikes. One publication, the
   Economic injury disaster loans provide        tools to make disaster loans affordable:        Ready Business Mentoring Guide – User
the necessary working capital after a            low-interest rates (around 4 percent), long-    Edition, contains worksheets, checklists,
declared disaster until normal operations        terms (up to 30 years), and refinancing of
resume. The law restricts economic injury                                                        testimonials and a sample emergency plan
                                                 prior liens (in some cases). As required by     to use for study. You can order the
disaster loans to small businesses, small
                                                 law, the interest rate for each loan is based   publication or download it free.
agricultural cooperatives and private
                                                 on SBA’s determination of whether each             Planning for a disaster is the best way of
nonprofit organizations of all sizes. The
                                                 applicant does or does not have credit          limiting its effects.
loan limit for economic injury, as a direct

42 — Small Business Resource   CONNECTICUT                                                                             Visit us online: www.sba.gov/ct
                                                          ADVOCACY

                    WATCHING OUT FOR YOU
                                     The SBA is Your Voice in Washington




OFFICE OF ADVOCACY                             jurisdictions    and     small    nonprofit
                                               organizations), and consider regulatory
                                                                                              from small business owners, nonprofit
                                                                                              organizations and small government
  The SBA’s Office of Advocacy, the “small     alternatives that minimize the economic        entities. Comments are forwarded to
business watchdog” of the government,          burden on small entities.                      federal agencies for review, and in some
examines the role and status of small             Advocacy’s mission is enhanced by a         cases fines may be lowered or eliminated
business     in     the    economy       and   team of regional advocates, located in the     and decisions changed in favor of the small
independently represents the views of          SBA’s 10 regions. They are Advocacy’s          business owners. Each year the National
small business to federal agencies,            direct link to small business owners, state    Ombudsman files a report with the U.S.
Congress, the President and federal            and local government entities, and             Congress on the responsiveness of federal
appellate courts as friends of the court.      organizations that support the interests of
Advocacy compiles and interprets statistics                                                   agencies regarding their actions of
                                               small entities. The regional advocates help    regulatory and compliance enforcement on
on small business and is the primary entity    identify regulatory concerns of small
within the federal government to                                                              small businesses.
                                               business by monitoring the impact of              To request help, send the National
disseminate small business data.               federal and state policies at the grassroots
The office is headed by the Chief Counsel                                                     Ombudsman a complete Federal Agency
                                               level.                                         Comment Form. You may do this by fax at
for Advocacy who is appointed by the              Learn more about the Office of Advocacy
President and confirmed by the U.S. Senate.                                                   202-481-5719; online at the Ombudsman’s
                                               at: www.sba.gov/advo.
  Advocacy also funds outside research of                                                     Web page: http://www.sba.gov/aboutsba/
small business issues and produces                                                            sbaprograms/ombudsman/index.html; or by
numerous publications to inform policy         OFFICE OF THE NATIONAL                         mail at 409 Third Street S.W., Mail Code
makers about the important role of small
business in the economy and the impact of
                                               OMBUDSMAN                                      2120, Washington, DC 20416.
                                                                                                 The Ombudsman also coordinates 10
                                                  If excessive fines, penalties or unfair     regional regulatory fairness boards which
government policies on small business. In
                                               regulatory enforcement by federal agencies     meet regularly to receive comments about
addition, the office monitors federal agency
compliance with the Regulatory Flexibility     are problems for your small business, you      federal regulations affecting small
Act – the law that requires agencies to        have a voice in Washington, D.C., through      businesses.
analyze the impact of their proposed           the SBA’s Office of the National                  Learn more about the National
regulations on small entities (including       Ombudsman.                                     Ombudsman from the Web site above or
small businesses, small governmental              The Ombudsman receives comments             call 888-REG-FAIR.
                                               regarding federal regulatory enforcement

Visit us online: www.sba.gov/ct                                                                     CONNECTICUT Small Business Resource —   43
OTHER ASSISTANCE
 OTHER SOURCES OF                                  and solidify the state’s reputation as a
                                                   high-tech leader in innovation and
                                                                                               CONNECTICUT ENTERPRISE CENTER
                                                                                                 Ronald H. Buccilli, Psy.D, President/CEO
                                                                                                                                                • To support the information needs of
                                                                                                                                                   all Connecticut citizens.
 ASSISTANCE                                        productivity.                                 CW Group, Inc.                                 Visit www.iconn.org, contact your local


 Regional Economic
                                                    DECD staff is composed of highly trained     200 Myrtle St.                                 public library or call the:
                                                   economic and community development            New Britain, CT 06053                        CONNECTICUT DIGITAL LIBRARY

 Development
                                                   professionals who work directly with          860-229-7700 • 860-229-6847 Fax              OFFICE

 Organizations
                                                   businesses,      developers,     housing      www.cwresources.org                            888-256-1222 Toll Free in Connecticut

                                                                                                                                              Chambers of
                                                   advocates, community groups and


                                                                                                                                              Commerce
    Regional Economic development                  municipalities. They help promote           INSTITUTE OF TECHNOLOGY AND
   organizations offer a wide array of             business development, job growth,           BUSINESS DEVELOPMENT (ITBD)
   programs and services for new                   affordable housing and neighborhood           Richard C. Mullins Jr., Managing
                                                                                                                                                 Chambers of Commerce serve as a
   businesses as well as for companies in          revitalization in the communities they        Director
                                                                                                                                                central location where the local small
   need of expansion or relocation                 serve.                                        CCSU Institute of Technology
                                                                                                                                                business community may obtain
   assistance. Typical services provided by      DECD CONTACT INFORMATION:                       and Business Development
                                                                                                                                                information, publications and contact
   these organizations includes site               State of Connecticut                          185 Main St.
                                                                                                                                                information. Current listings can be
   location, tax incentives and loan               Department of Economic and                    New Britain, CT 06051
                                                                                                                                                found online in a variety of places.
   packages. For more information contact          Community Development                         860-827-7966 • 860-827-7025 Fax
                                                                                                                                                Some of the sites we’ve found for
   the economic development organization           505 Hudson St.                                www.ccsu.edu/ITBD
                                                                                                                                                Chambers in Connecticut are the
   in the geographic area of your interest.        Hartford, CT 06106-7107
                                                                                                                                                following:

 Connecticut's
                                                   860-270-8205                                UNIVERSITY OF CONNECTICUT
                                                                                                                                                cbia.com/mweb8/mgrqispi.dll?appname

 Business Response
                                                   www.ct.gov/ecd                              TECHNOLOGY INCUBATION PROGRAM
                                                                                                                                                =PublicAffairsWeb&prgname=caccedir

                                                 Gateway Small
                                                                                                 Rita Zangari, Program Director

 Center
                                                                                                                                                www.2chambers.com/connecti2.htm

                                                 Business Center
                                                                                                 University of Connecticut
                                                                                                                                                www.connquest.com/ct/chambersofco
                                                                                                 Technology Incubator Program

                                                 (GSBC)
   Connecticut’s Business Response Center is                                                                                                    mmerce.html
                                                                                                 1392 Storrs Rd., U4213
   a free service for people looking for                                                                                                         In Connecticut you can also find the
                                                                                                 Storrs, CT 06269-4213
                                                                                                                                                State organization, the Connecticut
                                                                                                                                                Business & Industry Association, and
   information about doing business in             Gateway Small Business Center (GSBC)          860-486-3010 • 860-486-3536 Fax
   Connecticut. BRC specialists use extensive,     is located at the Gateway Community           www.tip.uconn.edu
                                                                                                                                                other      economic      development

                                                                                               iConn
   regularly updated databases to address          College, Long Wharf Campus in New
   questions on government and private             Haven. The GSBC offers a broad range of                                                      organizations and alliances. You can
   resources, make referrals to contacts for       programs, courses, workshops and                                                             find more information by visiting the
                                                                                                  Your Public Library Card — It's Not Just      following:
   further assistance, identify possible           counseling services for existing or
                                                                                                 For Check Out Anymore!                       CONNECTICUT BUSINESS AND
   business locations, explain state and local     potential entrepreneurs and small
                                                                                                 iCONN is part of the Connecticut             INDUSTRY ASSOCIATION, INC.
   requirements for different business types       business owners. GSBC has counseling
                                                                                                 Education Network. It provides all             350 Church St.
   and much more. Funded by the                    offices for SCORE.
                                                                                                 students, faculty and residents with           Hartford, CT 06103
   Connecticut Economic Resource Center,         GATEWAY SMALL BUSINESS CENTER
                                                                                                 online access to essential library and         860-244-1900
   Inc. (CERC), a partnership of Connecticut       Gateway Community College
                                                                                                 information resources. It is administered      www.cbia.com
   utilities/ telecommunications companies         60 Sargent Dr.
                                                                                                 by the Connecticut State Library in
   and state government, BRC is available          New Haven, CT 06511
                                                                                                 conjunction with the Department of             CEDAS, the Connecticut Economic
   through         a    toll-free     number       203-865-7645
                                                                                                 Higher Education. Through iCONN, a

                        Connecticut Business
   800-392-2122,             via       email:                                                                                                   Development Association, is a not-for-
                                                                                                 core level of information resources            profit organization committed to

                        Incubator Network
   info@YouBelongInCT.com and on the Web                                                         including secured access to licensed
   at: www.YouBelongInCT.com.                                                                                                                   advancing the practice of economic


 State of Connecticut – (CBIN)
                                                                                                 databases is available to every citizen in     development within the state of
                                                                                                 Connecticut. In addition, specialized          Connecticut. The Association

 Department of
                                                                                                 research information is available to           encourages communication among its
                         The Connecticut Business Incubator

 Economic and
                                                                                                 college students and faculty.                  members by providing a forum for
                         Network (CBIN) is a network of the
                                                                                                 iCONN began in 2000 when the

 Community
                         incubators in the state which provide                                                                                  discussion and information exchange.
                                                                                                 Connecticut General Assembly provided          Visit www.cedas.org for membership

 Development
                         space and a process to help entrepreneurs
                                                                                                 funding for the purchase of licensed           information and more.
                         succeed. Business incubators accelerate
                                                                                                 information databases for Connecticut's      CONNECTICUT ECONOMIC
                         young startup businesses from an
   The Department of Economic and                                                                libraries, schools and colleges. The         DEVELOPMENT ASSOCIATION (CEDAS)
                                                   emerging concept to a viable enterprise.
   Community Development (DECD) is the                                                           Digital Library was one of several             c/o CERC
                                                   They offer a full array of business
   state's lead agency for the development                                                       recommendations of then - Lieutenant           805 Brook St., Bldg. 4
                                                   assistance services tailored to client
   and implementation of policies, strategies                                                    Governor M. Jodi Rell in the Fall of 1999.     Rocky Hill, CT 06067
                                                   companies, and an on-site incubator
   and programs, all of which are designed                                                       The Goals of iCONN are:                        860-571-7136 • 860-571-7150 Fax
                                                   manager, outside professionals and
   to enhance Connecticut's communities                                                          • To ensure universal access to a core         www.cedas.org
                                                   organizations which provide mentoring

                                                                                                                                              Economic
   and business and housing environments.                                                           level of library and information
                                                   assistance. Companies graduate from the
    DECD develops and implements                                                                    resources for every resident of

                                                                                                                                              Development
                                                   program once they meet their program
   strategies to attract and retain businesses                                                      Connecticut through their public
                                                   goals. Businesses launched from an

                                                                                                                                              Connecticut Towns
   and jobs, revitalize neighborhoods and                                                           library, school, college, and from
                                                   incubator program will succeed three to

                                                                                                                                              and Cities
   communities, ensure quality housing and                                                          home.
                                                   one versus the open marketplace.
   foster appropriate development in                                                             • To help provide necessary
                                                 CONNECTICUT CENTER FOR
   Connecticut's towns and cities.                                                                  information resources to every
                                                 ADVANCED TECHNOLOGY (CCAT)                                                                      The state of Connecticut, through its web
    As a forward thinking organization, DECD                                                        school in Connecticut so that all
                                                 REGIONAL INNOVATION CENTER                                                                     site, also provides links to your town –
   has successfully integrated the industry                                                         students are prepared to function in
                                                   Paul Striebel                                                                                economic development department, local
   clusters economic development strategy                                                           an information society.
                                                   222 Pitkin St., Ste. 101                                                                     development programs and other
   into the every day workings of the                                                            • To provide information resources to
                                                   East Hartford, CT 06108                                                                      resources by visiting www.ct.gov and
                                                                                                                                                choosing “Towns & Cities” from their
   department and is continuing to work                                                             the increasing number of students
                                                   860-291-8832 • 860-291-8874 Fax
   with the Governor’s Competitiveness                                                              taking advantage of on-line courses
                                                   www.ccat.us                                                                                  “Quick Links.”
   Council to enhance Connecticut’s                                                                 at Connecticut's colleges and
   competitive position in the new economy                                                          universities.


44 — Small Business Resource       CONNECTICUT                                                                                                               Visit us online: www.sba.gov/ct
TOP LENDERS
   Participating                      CASTLE BANK & TRUST CO.
   Lenders In Your
                                                                         EASTERN FEDERAL BANK               HAMPDEN SAVINGS BANK               NATIONAL IRON BANK (GP)
                                      (GP/SBX)                           (GP/SBX/PX)                        (GP/SBX)                             195 Main St.

   Area
                                        100 Hanover St.                    257 Main St.                       19 Harrison Ave.                   Salisbury, CT 06068
                                        Meriden, CT 06451                  Norwich, CT 06360                  Springfield, MA 01102-2048         860-435-2581 • 860-435-9105 F
                                        203-639-8866 • 203-639-2834 F      860-889-7381 • 860-889-4779 F      413-452-5143 • 413-452-5149 F
   AMERICAN EAGLE FEDERAL                                                                                                                      NAUGATUCK SAVINGS BANK
   CREDIT UNION (GP)                  CHELSEA GROTON SAVINGS             ENFIELD FEDERAL SAVINGS AND        HOME LOAN INVESTMENT               (GP/SBX)
     417 Main St.                     BANK (GP)                          LOAN ASSOCIATION (GP)              BANK, FSB (GP/CLP/PLP/SBX)           87 Church St.
     East Hartford, CT 06118            904 Poquonock Rd./P.O. Box 869     855 Enfield St.                    One Home Loan Plaza, Ste. 3        Naugatuck, CT 06770
     860-291-6333                       Groton, CT 06340                   Enfield, CT 06082                  Warwick, RI 02886                  203-720-5338 • 203-720-5494 F

   APPLE VALLEY BANK & TRUST
                                        860-448-4120 • 860-448-4129 F      860-253-4022 • 860-253-5205 F      401-739-8800 • 401-739-9711 F
                                                                                                                                               NAUGATUCK VALLEY SAVINGS &
   CO. (GP)                           CIT CAPITAL SMALL BUSINESS         ESSEX SAVINGS BANK                 HSBC BANK (GP/CLP/PLP/SBX/PX)      LOAN ASSOCIATION (GP/SBX)
     286 Maple Ave./P.O. Box 70       LENDING (GP/PLP/CLP/PX)            (GP/CLP/SBX/PX)                      7 Landmark Sq.                     333 Church St.
     Cheshire, CT 06410                  175 N. Main St., Ste. 38          35 Plains Rd.                      Stamford, CT 06851                 Naugatuck, CT 06770
     203-271-1268 • 203-271-1540 F       Branford, CT 06045                Essex, CT 06426                    203-316-0844 • 203-316-8428 F      203-720-5000 • 203-720-4100 F
                                         860-483-4396 • 860-483-4393 F     860-767-4414 • 860-767-4447 F
   BANK OF AMERICA                                                                                          HUDSON VALLEY BANK (GP)            NATIONAL COOPERATIVE BANK
   (GP/SBX/PLP/CLP/PX)                CITIBANK FSB OF CONNECTICUT        FAIRFIELD COUNTY BANK CORP.          21 Scarsdale Rd.                 (GP/PLP/CLP/PX)
     300 Broad Hollow Rd.             (GP/SBX/CLP)                       (GP/SBX/CLP/PX)                      Yonkers, NY 10707                  2011 Crystal Dr., Ste. 800
     Melville, NY 11747                  750 Washington Blvd.              150 Danbury Rd./P.O. Box 2050      914-768-6879 • 914-771-7302 F      Arlington, VA 22202
     631-547-7913                        Stamford, CT 06091                Ridgefield, CT 06877                                                  703-302-1945
                                         203-975-6072 • 860-975-5042 F     203-431-7455 • 203-438-0831 F    INDEPENDENCE BANK
   THE BANK OF GREENWICH (GP)                                                                               (GP/PLP/SBX)                       NEWALLIANCE BANK
     165 Mason St.                    CITIZENS NATIONAL BANK (GP/SBX)    FARMINGTON SAVINGS BANK              1370 S. County Tr.               (GP/SBX/PLP/CLP/PX)
     Greenwich, CT 06830                 182 Main St.                    (GP/CLP)                             East Greenwich, RI 02818           195 Church St.
     203-629-8400 • 203-629-8409 F       Putnam, CT 06260                  32 Main St.                        401-471-6300 • 401-471-6298 F      New Haven, CT 06510
                                         860-928-7921 • 860-928-7558 F     Farmington, CT 06032                                                  203-789-2822 • 203-784-5049 F
   BANK OF SOUTHERN                                                        860-314-6854 • 860-314-6850 F    INSURBANC, FSB (GP)
   CONNECTICUT (GP/SBX/CLP)           COLLINSVILLE SAVINGS SOCIETY                                            10 Executive Dr.                 NEWTEK SMALL BUSINESS
     215 Church St.                   (GP)                               FIRST COUNTY BANK                    Farmington, CT 06032             SERVICES (GP/PLP/CLP/PX)
     New Haven, CT 06510                250 Albany Turnpike/POB 350      (GP/SBX/CLP)                         860-674-2310 • 860-677-0524 F      4 Whitney St. Ext.,
     203-782-1100 • 203-782-5056 F      Canton, CT 06019                    100 Prospect St., Ste. 301N                                          Westport, CT 06880
                                        860-693-6936 • 860-693-7799 F       Stamford, CT 06901              JEWETT CITY SAVINGS BANK             203-454-9653 • 203-454-1889 F
   BANK UNITED (GP)                                                         203-462-4202 • 203-462-4447 F   (GP)
     95 Elm St.                       COMMUNITY’S BANK (THE) (GP)                                             111 Main St.                     NEWTOWN SAVINGS BANK
     West Springfield, MA 02459         211 State St.                    FIRST NATIONAL BANK OF               Jewett City, CT 06351            (GP/SBX/PLP/CLP/PX)
     413-787-1271 • 413-731-8129 F      Bridgeport, CT 06604             LITCHFIELD (GP/SBX)                  860-376-4444 • 860-376-3270 F      39 Main St.
                                        203-367-0323 • 203-367-8383 F       100 Park Lane Rd.                                                    Newtown, CT 06470
   BNB BANK, NA                                                             New Milford, CT 06776           JPMORGAN CHASE                       203-426-4440 ext. 3166
   (GP/PLP/CLP/SBX/PX)                COMMUNITY SOUTH BANK                  860-210-2313 • 860-210-7869 F   (GP/SBX/PLP/CLP/PX)                  203-270-6308 F
     250 5th Ave.                     (GP/PLP/CLP/SBX/PX)                                                     1985 Marcus Ave.
     New York, NY 10001                 8 Faneuil Hall, 3rd Fl.          FIRST NATIONAL BANK OF               New Hyde Park, NY 11042          NORTHWEST COMMUNITY BANK
     212-689-5292 • 212-263-2055 F      Boston, MA 02109                 SUFFIELD (GP)                        516-574-7482 • 516-574-7598 F    (GP/CLP/SBX)

   BRANCH BANKING & TRUST CO.
                                        617-973-6433 • 617-973-5198 F       30 Bridge St.                                                        86 Main St./P.O. Box 1019
                                                                            Suffield, CT 06078              LIBERTY BANK (GP/SBX/PX)             Winsted, CT 06098
   (GP/SBX/PLP/CLP/PX)                CONNECTICUT BANK & TRUST              860-668-3950 • 860-668-3954 F      315 Main St.                      860-379-7561 • 203-738-6023 F
     5901-C Peachtree Dunwoody Rd.,   CO. (GP/SBX/PX)                                                          Middletown, CT 06351
     Ste. 420                           7 Sycamore St.                   FIRST TRADE UNION BANK (GP)           860-343-7437 • 860-344-9217 F   PATRIOT NATIONAL BANK
     Atlanta, GA 30338                  Glastonbury, CT 06033               25 Drydock Ave.                                                    (GP/SBX)
     770-901-3284 • 770-551-8781 F      860-266-4059 • 860-657-4405 F       Boston, MA 02205                LITCHFIELD BANCORP (GP/SBX/PX)       1177 Summer St.
                                                                            617-728-7369 • 617-482-9823 F      294 West St./P.O. Box 997         Stamford, CT 06905
   BUSINESS DEVELOPMENT               CONNECTICUT RIVER                                                        Litchfield, CT 06759              203-252-5951 • 203-697-1100 F
   COMPANY (GP/CLP/PLP)               COMMUNITY BANK (GP/SBX/PX)         FLAGSHIP BANK (GP/PLP/SBX/PX)         860-567-9401 • 860-567-5872 F
     500 Edgewater Dr., Ste. 555        64 Oak St.                         120 Front St.                                                       PEOPLE’S UNITED BANK
     Wakefield, MA 01880-1880           Glastonbury, CT 06033              Worcester, MA 01608              M&T BANK (GP/PX)                   (GP/SBX/PLP/CLP/PX)
     781-928-1102 • 781-928-1100 F      860-734-2107 • 860-734-2199 F      508-890-5179 • 508-797-5163 F     4925 Main St.                       850 Main St.
                                                                                                             Amherst, NY 14226                   Bridgeport, CT 06604-4913
   BUSINESS DEVELOPMENT               CONNEX CREDIT UNION (GP/SBX)       GROW AMERICA FUND, INC.             716-839-8706 • 716-839-8777 F       203-338-7215 • 203-338-6983 F
   COMPANY (GP/PLP/CLP)                 P.O. Box 477                     (GP/PLP)
     20 Church St.                      North Haven, CT 06473              708 Third Ave.                   MAINSTREET LENDER, LLC.            PNC BANK, NA
     Hartford, CT 06103                 203-603-5716                       New York, NY 10017               (GP/PLP)                           (GP/PLP/CLP/SBX/PX)
     860-218-2912 • 860-218-2913 F                                         212-682-1106 • 212-573-6118 F      2 Wisconsin Cir., 7th Fl.,         126 Easton Rd., 2nd Fl.
                                      DIME BANK (GP)                                                          Chevy Chase, MD 20815              Willow Grove, PA 19090
   BUSINESS LENDERS, LLC                2900 Salem Turnpike              GUILFORD SAVINGS BANK (GP)           240-235-5091 • 240-235-5093 F      215-658-5053 • 215-658-5054 F
   (GP/SBX/PLP/CLP)                     Norwich, CT 06360                  1 Park St./P.O. Box 369
     50 State House Sq., 5th Fl.        860-859-4300                       Guilford, CT 06439               MILFORD BANK (GP)                  PRIME BANK (GP)
     Hartford, CT 06103                                                    203-453-3290 • 203-453-6637 F      33 Broad St.                       7 Old Tavern Rd./P.O. Box 696
     860-244-9202 ext. 118                                                                                    Milford, CT 06460                  Orange, CT 06477
     860-527-0884 F                                                                                           203-783-5700 • 203-783-5725 F      203-799-1299 • 203-799-1297 F




Visit us online: www.sba.gov/ct                                                                                                    CONNECTICUT Small Business Resource —      45
TOP LENDERS
  PUTNAM BANK (GP)                    SAVINGS INSTITUTE BANK &           TD BANK(GP/SBX/PLP/CLP/PX)        VALLEY NATIONAL BANK               WESTFIELD BANK (GP/SBX/PX)
    40 Main St.                       TRUST COMPANY (GP/SBX/CLP)           102 W. Main St.                 (PLP/CLP/SBX)                       382 N. Main St.
    Putnam, CT 06260                    803 Main St.                       New Britain, CT 06051              1334 U.S. Hwy. 22 E.             E. Longmeadow, MA 01208
    860-928-6501 • 860-928-0222 F       Willimantic, CT 06776              860-832-4159                       North Plainfield, NJ 07060       413-572-4222 • 413-564-0439 F
                                        860-456-6536 • 860-423-9001 F                                         908-561-0271 • 908-753-9817 F
  QUINNIPIAC BANK & TRUST                                                THOMASTON SAVINGS BANK
  (GP/SBX)                            SHINHAN BANK AMERICA               (GP/CLP/SBX/PX)                   WACHOVIA SBA LENDING               WESTPORT NATIONAL BANK (GP)
    2600 Dixwell Ave.                 (GP/PLP/CLP/SBX)                     203 Main St.                    (GP/SBX/PLP)                        1495 Post Rd. E.
    Hamden, CT 06514                    241 Fifth Ave.                     Thomaston, CT 06787               1 Padanaram Rd.                   Westport, CT 06881-0309
    203-407-0756                        New York, NY 10016                 860-283-6150 • 860-283-6274 F     No. Street Shopping Center        203-254-6313 • 203-319-6285 F
                                        212-447-7900 • 212-679-5731 F                                        Danbury, CT 06811
  RBS CITIZENS (GP/SBX/PLP/CLP/PX)                                       UNION SAVINGS BANK                  203-312-0705 • 203-312-0179 F    WILTON BANK (GP)
    480 Jefferson Blvd.               SIMSBURY BANK & TRUST              (GP/SBX/CLP/PX)                                                        47 Old Ridgefield Rd./P.O. Box 606
    Mail Stop RJE-310                 COMPANY (GP/SBX/CLP)                 P.O. Box 647                    WASHINGTON TRUST COMPANY             Wilton, CT 06897
    Warwick, RI 02886                   760 Hopmeadow St./P.O. Box 240     Danbury, CT 06813-0647          (GP/PLP/CLP/SBX/PX)                  203-762-2265 • 203-761-9662 F
    401-468-6127 • 401-468-6178 F       Simsbury, CT 06070                 203-796-7683 • 203-796-7684 F     23 Broad St.
                                        860-651-2091 • 860-408-4679 F                                        Westerly, RI 02891               WINDSOR FEDERAL SAVINGS &
  ROCKVILLE BANK (GP/SBX)                                                UNITY BANK (GP/PLP/SBX/PX)          401-348-1200 ext. 1214           LOAN ASSOCIATION (GP)
    P.O. Box 660                      SMALL BUSINESS LOAN SOURCE           64 Old Hwy. 22                    401-348-1326 F                     250 Broad St.
    Rockville, CT 06066               (GP/PLP/SBX)                         Clinton, NJ 08809                                                    Windsor, CT 06095
    860-291-3600 • 860-291-3749 F       67 South Bedford St., Ste. 400     908-713-4305 • 908-713-4351 F   WEBSTER BANK                         860-298-6159 • 860-298-6164 F
                                        West Burlington, MA 01803                                          (GP/SBX/PLP/CLP/PX)
  SALISBURY BANK & TRUST                781-229-5875 • 781-359-1865 F    UPS CAPITAL BUSINESS CREDIT         436 Slater Rd.                   WOORI AMERICA BANK
  (GP/SBX/PX)                                                            (GP/SBX/PLP)                        New Britain, CT 06053            (GP/PLP/SBX)
    5 Bissell St./P.O. Box1868        SOVEREIGN BANK                       425 Day Hill Rd.                  860-612-5433 • 860-612-5411 F      183 Main St.
    Lakeville, CT 06039               (GP/PLP/SBX/CLP/PX)                  Windsor, CT 06095                                                    Fort Lee, NJ 07024
    860-435-9801 • 860-435-0631 F       1010 Farmington Ave.               860-687-2600 • 860-687-2647 F   WELLS FARGO BANK, NA                 201-947-6666 ext. 215
                                        West Hartford, CT 06107                                            (GP/PLP/CLP/SBX/PX)                  201-242-9780 F
  SAVINGS BANK OF DANBURY               860-570-3240 • 860-570-3242 F    VALLEY BANK (GP/SBX/PX)             1455 W. Lake St., Ste. 206
  (GP/SBX/PX)                                                              10 N. Main St./P.O. Box 1357      Minneapolis, MN 55408              GP= General 7a Lender
    220 Main St.                      SUPERIOR SAVINGS BANK (GP)           Bristol, CT 06010                 612-667-2753 • 612-316-2322 F      SBX = SBA Express Lender
    Danbury, CT 06810-6653              275 Broad Hollow Rd.               860-585-2111 • 860-314-1317 F                                        PLP = Preferred Lender
    203-731-5442 • 203-774-3998 F       Melville, NY 10747                                                                                      CLP = Certified Lender
                                        516-844-1005 • 516-844-1464 F                                                                           PX = Patriot Express Lender



            SUCCESS
            S T O R Y                City True Value Hardware                                                                                            continued from page 5


    By 1995, the need to expand presented another             Route 6 within one mile of their operation. While       welcoming hello followed by an offer to help.
    challenge to the young company and their                  the expected response is for small businesses to        Whether you are the journeyed tradesman or the
    management team. In response to a growing                 oppose local “Big Box” store competition as a           newest “weekender” dreading the challenge of
    community and increased recognition of their              threat, Bill Englert looked on the increased            replacing your first faucet, when you walk inside
    attention to service and detail, City True Value          competition as an opportunity. He welcomed              you now you are in a special place. Is it the close
    Hardware added a power equipment division to              them to the city, with a keen understanding that        quarters? Is it the special attitude of the staff? Is it
    meet the expanding needs of their growing                 there would be room for all to co-exist and more        the easing aroma or taste of their warm popcorn?
    customer base. Joe Englert took charge of that            retail would ultimately draw more shoppers to           Is if the 7 day week, 7 a.m. to 7 p.m. dedication to
    division for the company in locally rented space          the area.                                               service? Yes, it is all of these but there is something
    with an emphasis on the sales and service for the                                                                 “more” still.
    full range of small engine power equipment.               Bill and City True Value Hardware did not
                                                              retrench when faced with increased competition.       Bill Englert attributes most of his company’s
    Their reputation for quality and friendly service         Rather, they expanded, first with acquisition of the  consistent growth since their start nineteen years
    led the way to growth in sales while the range of         Just Ask Rental and Repair Center, but further in     ago to his loyal employees, customers and family.
    services provided by True Value was also                  2005 when they acquired the remaining shop in         With his son Joe, daughters Diane and Michell,
    increasing into the equipment rental business. In         the strip of stores where they started in 1989. They  City True Value Hardware’s 23 employees are
    the year 2000 Bill Englert’s City Hardware took on        now had 4,000 square feet of hardware, paint and      trained to answer questions and provide
    their greatest challenge.                                 garden supplies under one roof, the adjacent          instruction about whatever your hardware or
                                                              rental and repair facility and a tremendously         small project needs may be. In a word they are the
    The company purchased a former muffler shop               knowledgeable and dedicated staff which makes         “more,” the added value which has set City True
    that was immediately adjacent to their hardware           it all work.                                          Value Hardware apart from the much larger stores
    and paint facility. After six months of renovation                                                              in their immediate area. They have not merely
    Bill opened the Just Ask Rental Center which              Today, when you walk into the Englert’s City True survived but thrive and continue to grow.
    allowed for even greater expansion of their               Value Hardware Store on busy Route 6 in Bristol,
    services for customers and for consolidation of the       CT you see the thousand and one things we all City True Value Hardware of Bristol, CT serves us
    small engine sales and repair facility. Soon              look to find in hardware stores. Sure, the aisles are all as a reminder that attention to detail, customer
    homeowners and contractors alike began to rent            stocked with the requisite assembly of widgets service, seeking opportunities and trust in your
    the equipment they needed for an afternoon, a             and gizmos that would help Noah prepare for the ability to compete and grow distinguish Bill
    weekend or a month.                                       worst of floods. But there is “more.”                 Englert as Connecticut’s Small Business Person
                                                                                                                    of the Year.
    During the Nineties, Bristol, CT saw the entry of         At the Englert’s you are also greeted by the
    two major home improvement retail stores along            familiar aroma of fresh popcorn, and a soft



46 — Small Business Resource    CONNECTICUT                                                                                                          Visit us online: www.sba.gov/ct

				
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