Bill > HB06738

This bill proposes establishing a forgivable loan program designed to support individuals from Connecticut who want to start businesses in the trades. Specifically, the program will provide loans to help cover startup expenses like tools and equipment for trade business owners who meet two key criteria: first, they must have graduated from a Connecticut high school or trade school, and second, they must establish and continuously operate their trade business within Connecticut for a minimum of ten years. The purpose of this program is to encourage local trade professionals to become business owners and contribute to the state's economic development by providing financial assistance to help overcome initial business establishment costs. By making the loan forgivable, the bill creates an incentive for participants to maintain their businesses long-term, which could help strengthen the local trades workforce and create economic opportunities within the state.

Business and Industry

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06738&which_year=2025