Businesses affected by Irene are getting some help in the form of financial assistance from the State Department of Economic and Community Development.
Companies that sustained damage are eligible for assistance, including bridge financing and loans covering uninsured losses through the DECD.
"As we move forward in our recovery efforts, I want to ensure that business that were affected get the financial and technical help they need in a timely fashion," Gov. Dannel Malloy said.
The assistance includes loans up to $500,000 to companies for storm-related damage, including damage to property, machinery and equipment and working capital. Grants are also available to businesses for training employees who lose their jobs because a business is forced to close or those being trained to assist in disaster recovery.
The DECD will provide banks and other lenders with loan guarantees of up to $500,000 to help spark lending to companies affected by the storm.
"Providing this type of assistance will ensure that Connecticut companies get back to business, which in turn will help the state's economy stay on track in the wake of this devastating storm," Malloy said.
