HEDCO-SAMA Minority Business Covid Support Program

HEDCO, Inc. and SAMA have partnered with Governor Lamont, State of Connecticut, the CT Department of Economic & Community Development (DECD) and the CT Minority Business Initiative to provide financial relief to minority-owned and women-owned small businesses negatively impacted by the coronavirus pandemic.


Under the COVID-19 Business Response Program, a qualifying small business with 20 or fewer employees may apply for a zero- interest Line of Credit for up to $12,500.


This program will be allocated to minority-owned and women-owned small businesses. The program will be administered and underwritten by HEDCO, Inc.

Eligibility and Conditions

Form Downloads

Please download, complete and submit with application.


Cash Flow Statement

Source and Use of Funds



To be considered for this program, your small business must:

  • Be a for-profit business with no more than 20 full-time and/or part-time employees

  • Be a minority-owned and/or woman-owned small business (minimum 51% of minority/woman ownership required)

  • Be in good standing with the Department of Revenue Services (DRS)

  • Have been conducting business for a minimum of one year

Terms & Conditions


  • Line of Credit up to $12,500

  • 0% interest rate

  • One-year Line of Credit, payable in full 12 months from the date of closing

  • Working capital Line of Credit

  • No application fee

  • Closing fee of $250.00, which can be included in the cash flow projections

  • The debt is eligible to be forgiven if the company can demonstrate that the funds were used to cover expenditures due to COVID-19. In order to receive forgiveness, the business must show documentation of expenditures in accordance with your cash flow projections


Application and Approval Process
  • Download and complete the 1-Page Application

  • Download and complete the Cash Flow Statement

  • Download and complete the Source and Use of Funds form

  • Provide the prior year Profit and Loss Statement

  • Provide a Year-to-date (YTD) Profit and Loss Statement

  • Provide Evidence of DRS Clearance (Department of Revenue Services)

Submit all documentation to underwriting via the form below.

All due diligence will be completed by HEDCO.

If your loan application is approved, HEDCO will:


  • Issue a Commitment Letter outlining terms and conditions

  • Prepare closing documents for Client’s signature

  • Issue a check with the funds


Contact Information and Additional Support


Any of the following organizations are available to answer your questions and/or assist with the completion of your application:

Spanish American Merchant Association (SAMA)

Contact: Rosa Jacinto 860-724-4910


For additional information or questions about the program, contact HEDCO at applications@hedcoinc.com or (860) 527-1301 x244.