Business Loans in Connecticut

Connecticut's economy benefits from its strategic location between New York and Boston, a highly educated workforce, and deep roots in financial services and insurance. Hartford has long been known as the "Insurance Capital of the World," hosting headquarters for Aetna, The Hartford, and Travelers. Fairfield County, anchored by Stamford and Greenwich, serves as an extension of Wall Street with hundreds of hedge funds and financial firms. Connecticut's defense manufacturing sector, led by Electric Boat (General Dynamics) and Pratt & Whitney, generates billions in military contracts, particularly for submarine construction and jet engine production. The state's pharmaceutical and biotech industries are growing, especially around New Haven's Yale University innovation corridor. With approximately 370,000 small businesses employing over 730,000 workers, Connecticut's entrepreneurs operate in a market with the nation's highest per-capita income but also face elevated costs for labor, real estate, and taxes. The Connecticut Department of Economic and Community Development (DECD) offers various programs including the Small Business Express Program, which provides loans and grants to businesses with under 100 employees. The state's proximity to major metropolitan markets provides Connecticut businesses with access to over 23 million consumers within a two-hour drive.