The Department of Economic and Community Development has launched a $150 million lending program targeting small businesses and nonprofits in low-income and historically underserved communities as persistent stress of COVID-19 and new concerns of recession weigh on their minds.Starting Monday, businesses and nonprofits can apply online for low-interest loans through the Connecticut Small Business Boost Fund website. Administrators will evaluate applications and match business owners with lenders and community development financial institutions to provide funding and technical support. The state will provide half the funding, $75 million; the other half will come from private partners, including Citizens Bank, M&T Bank and First Republic Bank.
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