Lending Power | Loan Programs & Leadership for small business

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SBA 504 Current Rate:

4.625%

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News & Events

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FOLLOW US ON FACEBOOK 

Community Investment Corporation has an active and current Facebook page where we post the latest news, events, and small business highlights. 

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CIC EXPANDS MICRLOAN PROGRAM INTO RHODE ISLAND

March 18, 2015

Lenders offering small loans seem to be popping up everywhere, but there are great advantages to partnering with CIC when it comes time for a small business loan.  CIC provides business owners with complimentary financial guidance and business consulting support throughout the life of the loan. This professional support is a powerful tool in helping to ensure the business' long-term success and it’s a service that quick loan companies cannot match.

 

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FREE GROWTH WHEEL WORKSHOP OCTOBER 15th IN HAMDEN

September 19, 2014

GrowthWheel, the new and innovative business planning tool is coming to CIC in October. We are hosting a free workshop in partnership with the CT Small Business Development Center. 

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NEW COMMUNITY LENDING LOAN PROGRAMS

September 5, 2014

Thanks to the support of our stakeholders and our partners, Community Investment Corporation has been approved to participate in the SBA's Community Advantage loan program. This means CIC now includes a Community Lending Department that offers loans from $2500 up to $300,000 in Connecticut and Rhode Island. 

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2013 ANNUAL REPORT

August 15, 2014

The success of CIC's loan programs depends on the solid partnerships between CIC and small community banks, larger financial institutions, credit unions, business resource centers and economic development organizations. It is a shared belief in bringing lending power to small businesses that creates jobs, boosts the local economy and builds strong communities.

CIC would like to thank all of our partners for their dedication, loyalty, and generous support.

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INTRODUCING THE $7500 MICRONOW LOAN PROGRAM FOR SMALL BUSINESSES

July 8, 2014 


MicroNOW is CIC'S latest initiative under the SBA Microloan Program that promises to streamline the approval and closing process for business loans up to $7,500. 

 

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504 PROGRAM CHANGES WILL MEAN MORE QUALIFIED APPLICANTS; BIGGER DEALS


The SBA issued Proposed Rule changes to both the 504 and 7(a) Loan Programs last February. With the comment period long closed, CIC anticipates the agency will release the Final Rules sometime in the next 60 days, to coincide with the release of the latest version of the Processing SOP.

So what do we expect the final rules to be?

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504 DEBT REFINANCING - NOT THIS YEAR: SUBSIDY STANDS IN THE WAY

The Chairman and Ranking Member of the Senate Committee on Small Business and Entrepreneurship have reached an agreement that could permanently reinstate the 504 Debt Refinance; but there's a catch. 504 Debt Refinance would only be available in fiscal years where the 504 Program has a zero subsidy rate (i.e. does not require an appropriation to fund program losses). Today the subsidy rate is 1.71% and FY 2014's subsidy rate looks to remain at that same level.

So where do we go from here?

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2012 Annual report

July 2013

CIC held its Annual Meeting under the big top at Rosedale Farm once again this year. Re-defining the current trend in farm-to-table dining, The Max Restaurant Group brought the tables to the farm and performed culinary magic!  Follow the link below for our 2012 Annual Report.

 

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JUNE 2013

CIC client Chris Runyan, receives SBA's Small Business of the Year Award for CT!

Chris Runyan, owner of Game Exchange, was honored by the SBA Connecticut Regional Office with the Small Business of the Year Award.  Chris started with a MicroLoan he received from CIC in 2010 to open his first store and now has five stores and over 40 employees.  Amazing what $35,000 can do for the Connecticut economy!

For more on this story, follow this link...

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JUNE 2013

CIC partners with local lenders and NADCO to offer the VetLoan Advantage Program.

 

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ARCHIVED ANNUAL REPORTS

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CIC is an economic development lender contributing financial expertise and practical guidance to small business entrepreneurs in Connecticut and Rhode Island who have powerful ideas and need more power to grow them.