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As the designated development agency for the Town of New Milford, The Corporation offers an array of programs to assist businesses. Our loan and crowdfunding programs can help many New Milford firms obtain resources to help grow their businesses, purchase new equipment or improve the look of their exterior store fronts.
Scroll down for a full list of active Corporation programs.
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:
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Amounts up to $150,000
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Interest rates from 4% to 6%
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Terms from 1 to 10 years
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 were impacted by the COVID pandemic.
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. This program is currently on hiatus. Stay tuned for announcements about future programming.
The Corporation Board of Directors recently voted to discontinue the Facade Grant Program due to the difficulty of raising funds to capitalize this initiative. We apologize for any inconvenience.
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.