CT Community Investment Corp. gets boost to microloan program

The Connecticut Community Investment Corp. is getting a $30,000 boost to its SBA microloan program, thanks to a donation from TD Bank's charity arm.

The TD Charitable Foundation recently donated $30,000 to CTCIC to support the group's eighth round of funding through the U.S. Small Business Administration microloan program. That will enable CTCIC to continue making loans of up to $35,000 to qualified small businesses.

The microloan program targets startups as well as established businesses not quite ready for traditional bank financing.

"Each dollar donated...leverages significant additional funding from the SBA," said Mark S. Cousineau, president of CTCIC. "And because these funds are part of a revolving loan fund, the same dollars can be lent again and again over time."