Connecticut Governor Dannel Malloy and the state Department of Economic and Community Development will provide Total Mortgage Services with a $3.5 million loan to help the company establish its national headquarters with a new facility in Milford.
"One of my economic development priorities is to build on our strengths as a state, including the established industries that are driving Connecticut’s economy," said Gov. Malloy.
The new headquarters will create at least 140 new jobs and retain 140 existing jobs for state residents.
The lender plans to double in size over the next five years and will invest over $5.2 million to purchase, improve and equip its national headquarters.
"The state's support has been indispensable to me at this crucial stage in Total Mortgage's nationwide growth," said president and CEO John Walsh.
"The funding has enabled us to consolidate our operations in a building here in Milford that was ready for new ownership, and do it the way it should be done," Walsh added.