In today's economic climate, it can be difficult for small business owners to acquire the loans needed to grow their established business or for entrepreneurs to acquire the funds needed to start a new venture. Frequently, a borrower's collateral is insufficient to justify a bank lending a full requested amount. At the CTIDA, we know this, and have developed two programs to help. We call them our Loan Guarantee Program and our Co-Loan Program.
In cases where there is a sound business plan and proposal, the CTIDA may be willing to guarantee part of a borrower's collateral deficiency, thus sharing the risk with the bank. In doing so, businesses get the capital they need, banks have less invested and we follow our mission of encouraging growth in our area. It's a win, win...win!