Are you an aspiring business owner with a big dream?
As a Small Business Administration (SBA) Preferred Lender and a company committed to helping entrepreneurs with business ideas of varying sizes, Chelsea Groton has helped hundreds of hopeful business owners just like you find the right loan and support to start a business.
“I never heard of a bank going above and beyond for a hopeful business owner before. The Chelsea Groton team was incredibly customer-focused. They believed in me and my bakery’s concept. They understood my vision, and could see the value in it.”
Adam Young, Owner & Pastry Chef, Sift Bakeshop
Read more about how we were able to help Adam
SBA loans available through Chelsea Groton Bank's Commercial team
We proudly offer a wide range of SBA financing programs, such as 7(a) and 504, to help small businesses start and grow their operations.
Chelsea Groton Bank’s Preferred Lenders Program (PLP) status streamlines the process for providing business financing to the small business community. PLP lenders have demonstrated a proficiency in processing and servicing SBA-guaranteed loans. To learn more, contact a member of our Commercial Lending team below.
Small Business loans available at your preferred branch
We’ve also developed three small business loan products, available directly through our branches, for those in need of working capital financing for a commercial purpose.
The Small Business Professional Credit Line (for those looking to borrow $25,000 - $100,000) and the Small Business Overdraft Credit Line (for those looking to borrow $2,500 - $25,000) could be appropriate solutions for commercial borrowers who are operating companies (including corporations, LLCs, and PCs) or are individuals (including sole proprietorships). In addition, the branches also offer the Small Business Fixed Asset Acquisition Term Loan (for those looking to borrow up to $50,000), which can be combined with either of the small business credit lines. To learn more, contact your local branch, or call 860-448-4200.
Small Business Relief Loan
Designed for small businesses based in Connecticut or Rhode Island, Chelsea Groton's new Small Business Relief Loan was created to provide small business owners with a simple way to access up to $10,000 in funding in order to maintain business operations while working to recover from challenges of the Covid-19 pandemic. View loan details and eligibility. Contact your local branch, or call 860-448-4195 when you’re ready to apply.