This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

How Connecticut Is Fighting for Small Business

"This is really about helping companies, particularly those that are on the verge of really starting to grow again and have the ability to do that," Smith added. "We thought it was important to step in."

Before she was appointed commissioner in 2011, Smith held executive positions at financial services firms such as Aetna and ING (ING).

"When I came into state government, the first thing that I realized was that it was so hard to do business with the state that even companies that needed help were not willing to work with us," Smith said. "By going with the governor on a jobs tour -- we met with about 500 companies in and around all of the different parts of the state and they all said, 'We're desperate for capital. We need help in this difficult economic time.' This was two years ago and the economy was still very much fledgling coming out of the Great Recession.

"We came up with this idea for the Small Business Express and we called it express specifically to send the message to the small-business community that this was not going to be a long process," Smith added. "This is going to be something they could get through in a very short period of time."

Smith is also encouraged by how a program such as the Small Business Express could help with the overall urban regeneration of towns and cities that were hardest hit by the recession.

"One of the real areas that we've focused on are some of the harder-hit and larger cities. People know about Greenwich and they know about Norwalk, but they might not think of Bridgeport as being in particularly good shape. Of the loans we've done so far, 12 of them are in downtown Bridgeport," she said. "Twenty-two of the companies we've given money to in the Small Businesses Express Program were located in Waterbury, which is another example."

Smith is also leading two other programs to bolster economic development among small businesses and start-ups -- Connecticut's Innovation Ecosystem and Next Generation Connecticut.

Innovation Ecosystem is a $5 million public-private partnership aimed at spurring development of promising new products and technologies as well as innovative companies in the state. The program, which launched in October 2012, features four innovation hubs in cities across the state that provide financial, technical, professional and mentoring resources as well as connecting young companies to potential investors.
2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GE $27.37 -3.30%
AAPL $93.79 -0.51%
FB $100.96 -0.04%
GOOG $676.58 -1.10%
TSLA $152.79 6.30%


Chart of I:DJI
DOW 15,616.29 -298.45 -1.88%
S&P 500 1,812.14 -39.72 -2.14%
NASDAQ 4,220.08 -63.5120 -1.48%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs