URBANK

About the Program

1.	Banks can meet the financing needs of more small and entrepreneurial businesses
2.	URBANK provides the bank with loss protection on loans up to $500,000
3.	Can be coupled with loans or investments from other public- or private-sector sources

Eligibility:

1.	Any Connecticut business
2.	The bank is unable to approve the borrower's loan request without URBANK assistance
3.	URBANK-protected loans are not available for:  Non-owner occupied real estate; Residential

Terms and Fees:

1.	Loan maturity, interest rate and other terms determined by the bank
2.	Debt service capability is evident
3.	Fees to borrower can range from 1.5% to 5.0% consisting of: One-time enrollment fee 1.5% to 5.0%; One-time program fee 1.0% to 2.0%; Bank may pass cost of lenders fee to borrower 1.5% to 2.5%; Fees may be included in loan amount

Benefits to Borrower:

1.	Access bank financing that is otherwise unavailable
2.	Fast and hassle-free, arranged by your banker
3.	No prepayment penalties

Borrower's Process:

1.	Discuss your business' financing need with your banker
2.	If the banker is unable to make the loan, suggest URBANK loan protection

Benefits to Banker:

1.	Retain or expand existing or establish new commercial lending relationship
2.	URBANK loan protection up to 44.5% consisting of:
	a.	Cash loan loss reserves contributed by:         Borrower (included in Terms & Fees) 1.5% to 2.5%         CDA (not charged to borrower) 3.0% to 5.0%         CDA's contribution will be double for small businesses
	b.	First-loss loan guarantee of 30% to businesses located anywhere in Connecticut
		Cash loss reserves accumulate and remain with the bank as a reserve against possible future URBANK portfolio loan losses.

 
Contact:  
CDA Officer John Lobon
860.258.7825

See our 2008 URBANK Lending Partners

Contact CDA by email.

URBANK Entrepreneurial:
CDA, the University of Hartford's Entrepreneurial Center and our banking partners collaborate to provide training, technical assistance and financing for entrepreneurs.  For details please contact Jean Blake-Jackson, Director, 860.768.5681.

Application:
URBANK & URBANK Entrepreneurial Loan Filing Form with Affirmative Action Form