The Connecticut Housing Finance Authority is investing $250,000 in the Southwestern Connecticut Segmented Loan Fund, which can be used to finance commercial and residential developments in Stamford.
The fund is administered by the Community Economic Development Fund (CEDF), which provides loans to startup and existing businesses that may have difficulty obtaining traditional financing. CEDF has run a similar fund in eastern Connecticut.
The state of Connecticut has committed $2 million to the fund contingent on matching grants from other sources. Stamford and Bridgeport have also supported the fund through the creation of guarantee programs for loans in their communities.
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