The Connecticut Department of Economic and Community Development has launched a $25 million loan program to provide funding to nonprofits and small businesses affected by the coronavirus crisis.

The Connecticut Recovery Bridge Loan Program offers short-term loans to businesses and nonprofits with fewer than 100 employees. The loans will have no interest for up to 12 months, and borrowers can request up to $75,000 or three months operating expenses, whichever is less. Loans have a 12-month term, and borrowers can request a six-month extension

DECD will administer the program with administrative and underwriting support from Connecticut Innovations, a strategic venture capital organization.

“We understand the challenges businesses face in these uncertain times,” DECD Commissioner David Lehman said in a statement. “The survey we conducted with AdvanceCT and the Connecticut Business & Industry Association found that the most critical need for business is assistance with cash flow, with 82 percent of respondents expecting a drop in revenue due to COVID-19.”