HARTFORD, Conn. - Shawmut National Corp. said its Connecticut National Bank unit has committed $230 million in loans to Connecticut businesses in partnership with the state development authority's Connecticut Works Fund.

Under the preferred-lender program, which took effect in June, the state insures 20% to 40% of a commercial loan by a private bank against loss. That enables banks to extend credit to businesses that don't meet normal underwriting criteria, Shawmut said.

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