Lending Power | Loan Programs & Leadership for small business


SBA 504 Current Rate:


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Eligibility & Requirements

Since 1973, CIC has dealt exclusively with SBA loans – so staff members are experts at managing the loan process and streamlining it through a unique level of accuracy and efficiency. The quickest and easiest way to determine if a business and a project meet program eligibility requirements is to contact CIC. The financial team will determine if the Microloan, Childcare Microloan or a different program is the best financing solution.

Identification Procedures – Important Information

To help the government fight the funding of terrorism and money laundering activities, Federal law requires that CIC obtain, verify and document information that identifies each person who applies for a MicroLoan or Childcare MicroLoan.

A borrower needs to provide CIC with:

  • Name
  • Address
  • Date of birth
  • Driver’s license
  • Other identifying documents

Credit History

The personal credit history of the borrower is an important factor. A personal credit history should be checked before applying for any loan.  Any mistakes should be corrected that may adversely affect the borrower's ability to obtain a loan. The service is available annually to individuals free of charge. Check Credit History.

Owner Contribution

For start-up businesses, a borrower is required to have a personal investment in the business. CIC requires the business owner to contribute 20% to the project being financed. The investment can come from personal assets, or from family and friends. For example, if your start-up costs total $22,000, CIC will finance $17,600 and the borrower will be required to invest the remaining $4,400 to start-up the business.


All appropriate business assets, personal guaranties and personal assets as necessary to collateralize the loan.


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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.