Financing and Incentives
Getting information on financing your business in Groton is easy. Here are some sources to get you started.
The Southeastern Connecticut Enterprise Region (seCTer) has various loan programs that provide loans from $10,000 to $2 million and can be combined with loans provided by partners such as banks, government entities, equity financing, etc.
The State of Connecticut's Department of Economic and Community Development’s Small Business Express Program (EXP) provides loans and grants to Connecticut’s small business to spur job creation and growth. Small businesses employing not more than 50 employees are eligible.
The US Small Business Association (SBA) offers information on small business loans, grants, bonds and other financial assistance. Find out which method of financing is right for you! While SBA does not make loans directly, you can find a local lender who can help you with your loan application. You may also speak directly with a local SBA representative by calling 860-240-4700.
The Connecticut Neighborhood Assistance Act (NAA) Tax Credit Program is designed to provide funding for municipal and tax exempt organizations by providing a corporation business tax credit for businesses that make cash contributions to these entities.
Your business may benefit from the Town of Groton's Economic Assistance Fund. If eligible, this fund provides monies for the construction of necessary public infrastructure improvements associated with new job-creating developments. More information about the program is available here.
Information about tax incentive and other business assistance programs can be found in our Business Incentives and Assistance Guide.
To get started, please call Paige Bronk, Manager of Economic and Community Development, at (860) 448-4095 or email him at email@example.com.