MERIDEN, Conn., May 14 /PRNewswire/ -- Connecticut waterways may be safer from biomedical waste, thanks to an innovative Community Economic Development Fund small business loan guarantee program. CEDF, with loan-program partners, Connecticut's Department of Economic and Community and the City of West Haven have guaranteed a small business loan to a West Haven company that stems improper disposal of needles and prescription drugs.
West Haven's Pathacura removes area medical waste from health care facilities safely and with a dedication to protecting one of the state's most precious assets, its water. "Pharmaceuticals and personal health care products in the water are a growing national concern; it's important that Connecticut's water is protected from pollutants and chemicals," says Pathacura's Michael Monsillo.
Monsillo's father started Pathacura 15 years ago. The son's been growing the business despite difficult economic conditions. Even as the recession deepened, Pathacura's volume spiked with H1N1 testing and vaccinations. "Pathacura's credit needed development, but we were too small a company to go to a bank for funding," he says.
Monsillo heard about CEDF's micro-finance loan guarantee program
at a Rotary Club meeting. CEDF, with the Department of Economic and
Community Development and cities of Hartford, Stamford, '/>"/>