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Housatonic Industrial Development
Housatonic Industrial Development Corp. (HIDC) is a leading Connecticut economic development organization located at 57 North Street in Danbury that has been helping small businesses grow, create and retain jobs for more than 45 years.
The organization specializes in creating and administering long-term fixed-rate financing through the SBA 504 Loan Program, working with lenders to provide up to 90% financing for small-to-medium sized businesses.
HIDC offers some of the lowest SBA allowable rates for long-term fixed-rate loans, with current rates ranging around 6% for 25-year terms, helping businesses achieve their economic development goals within Connecticut.
The corporation serves as a vital resource for Connecticut's small business community by providing accessible financing solutions that enable business expansion, job creation, and economic growth throughout the state.
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Housatonic Industrial Development Frequently Asked Questions
Housatonic Industrial Development Corp. (HIDC) is a leading Connecticut economic development organization that has been helping small businesses grow, create and retain jobs for more than 45 years. The organization is located at 57 North Street in Danbury and serves as a vital resource for Connecticut's small business community. HIDC specializes in providing accessible financing solutions that enable business expansion, job creation, and economic growth throughout the state.
HIDC specializes in creating and administering long-term fixed-rate financing through the SBA 504 Loan Program. The organization works with lenders to provide up to 90% financing for small-to-medium sized businesses. This financing program is designed to help businesses achieve their economic development goals within Connecticut through accessible loan solutions.
HIDC offers some of the lowest SBA allowable rates for long-term fixed-rate loans. Current rates range around 6% for 25-year terms, providing businesses with predictable monthly payments over an extended period. These competitive rates help make business expansion and growth more affordable for Connecticut's small business community.
HIDC's financing programs are designed for small-to-medium sized businesses looking to expand, create jobs, or achieve economic development goals. Since the organization works through the SBA 504 Loan Program, businesses must meet SBA eligibility requirements for small business classification. The focus is on businesses that will contribute to job creation and economic growth within Connecticut.
The SBA 504 Loan Program is a federal program designed to provide long-term, fixed-rate financing for small businesses to acquire real estate, buildings, or equipment. Through this program, HIDC works with lenders to structure financing packages that can cover up to 90% of project costs. This program is specifically designed to promote business expansion and job creation in local communities.
HIDC is located at 57 North Street in Danbury, Connecticut. The organization serves businesses throughout Connecticut, focusing on providing economic development support and financing solutions across the state. As a Connecticut-based economic development organization, HIDC is committed to supporting the growth of the state's small business community.
HIDC helps businesses create and retain jobs by providing accessible financing that enables business expansion and growth. Through their long-term fixed-rate financing programs, businesses can invest in real estate, equipment, and facilities that support increased operations and employment. The organization has been focused on this mission for more than 45 years, contributing to Connecticut's economic development.
HIDC is an economic development organization rather than a traditional bank, which means their focus is on promoting business growth and job creation in Connecticut. They specialize specifically in SBA 504 financing and offer some of the lowest SBA allowable rates available. Their expertise in economic development financing and long-term commitment to Connecticut businesses sets them apart from conventional lending institutions.
Housatonic Industrial Development Corp. has been helping small businesses grow, create and retain jobs for more than 45 years. This extensive experience in economic development and SBA financing has established HIDC as a leading organization in Connecticut's business community. Their decades of service demonstrate a long-standing commitment to supporting the state's economic growth.