HARTFORD, CT - Governor Dannel P. Malloy announced on Wednesday that he looks forward to signing legislation that was unanimously approved by the Connecticut General Assembly tonight making funds available for the state’s popular Small Business Express Program, which the Governor signed into law in 2011 and provides loans and grants to help small businesses spur job creation and growth.
“Small businesses are the backbone of Connecticut’s economy, and this popular program, which has received an overwhelmingly positive response from the business community, helps these companies increase their competitiveness and strengthen the state’s overall economy,” Governor Malloy said. “With the help of this program, Connecticut’s small businesses have been able to attract additional private financing, expand operations, and create good paying jobs with good benefits.”
“I want to again thank the General Assembly for their bipartisan support of the program. I look forward to signing this legislation so that we can replicate the many successes we have seen these small businesses achieve.”
The legislation (Senate Bill 801) authorizes $60 million in general obligation bonds for the program, increasing its total bond authorization to date to $160 million. The State Bond Commission will give approval on a portion of the authorization when it convenes on Wednesday, March 13.