As the designated development agency for the Town of New Milford, The Corporation offers an array of programs to assist businesses. Our loan, grant and facade programs have helped many New Milford firms obtain resources to help grow their businesses, purchase new equipment and improve the look of their exterior store fronts.
We also help the Town of New Milford administer the ARPA Small Business Assistance Program, which helps small businesses that have been impacted by the pandemic.
We continually look for innovative programs to offer the community. Two recent examples are our partnership with the crowdfunding platform, Kiva and a new Pop-Up New Milford retail incubator that is currently in development.
Scroll down for a full list of Corporation programs.
The New Milford ARPA Small Business Assistance Program was established to provide limited, one-time direct financial assistance to eligible New Milford small businesses that employ 25 or fewer employees and that have been adversely impacted by the COVID pandemic.
The Corporation offers direct loans and grants up to $5,000 to New Milford businesses and commercial property owners for façade improvements. The low cost funding can be used for new doors, painting, repair of walls and windows, installation of cornices, awnings and other exterior improvements.
Pop-Up New Milford invites small businesses (1-5 employees), who are poised to bring their business to the next level, to test their brand and products in a downtown retail location. Participating businesses can sub-lease 170 sq/ft of retail space for an attractive fee.
HEDCO provides small business clientele with access to capital needs that would be otherwise un-met or under-served.
HEDCO offers small business and non-profit organizations flexible and affordable loan options that fit their needs:
Amounts up to $150,000
Interest rates from 4% to 6%
Terms from 1 to 10 years
Kiva loans enable entrepreneurs to grow a business and create opportunity and creates opportunities for others as well. That ripple effect can shape the future for a family or an entire community.