Business/Development Incentives  The Business Development Loan Pool
Have you ever sought financing for your business venture, only to be turned down by conventional lenders? Are you looking to relocate, expand or begin a business in Norwich? If you have a solid plan for a business that will create jobs or provide other economic benefits, then the Business Development Loan Pool (BDLP) may be of assistance. The BDLP, a partnership of five area banks (see below), provides lower cost loans of up to $100,000 for qualified new or expanding businesses located in the Enterprise Zone. BDLP financing may be used for property acquisition and improvement, equipment purchase and working capital.
You may download the application for the Business Development Loan Pool and submit a completed application package to the Economic Development Coordinator. For more information, contact any of the following: Mayor's Office (860) 823-3742
--OR--
Any one of the five participating banks:
| Chelsea Groton Savings Bank |
823-4805 |
William Terwilliger |
| The Dime Savings Bank |
859-4300 |
Robert Giffen |
| Eastern Savings and Loan |
425-0131 |
Jane Moriarty |
| Liberty Savings |
892-2511 |
Jason Gordon |
| Peoples United |
892-6345 |
Dianne Kent | To download and print the City of Norwich Business Development Loan Pool, please click here.
A former mill in Norwich | Mill Enhancement Program
This program provides zoning and tax incentives to owners of historic mill properties who wish to restore and reuse these buildings for manufacturing, residential, and other economically beneficial purposes. Eligible improvements include interior and exterior health and safety code work and zoning compliance, environmental studies and remediation, landscaping and historically appropriate enhancements. Funds are limited. Contact the Economic Development Coordinator at (860)823-3822. Urban Enterprise Zone
The Connecticut Urban Enterprise Zone provides certain financial and tax incentives to businesses and residents investing within a designated area in Norwich. The Norwich Enterprise Zone extends along Route 32, through the downtown, and along Route 12 through to Greeneville. Visit this link for more complete information.
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