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, ‘/>”/>