Chelsea Groton Bank Launches Small Business Relief Loan

Chelsea Groton Bank Press Release:

Dec 12 2020

Chelsea Groton Bank is proud to present a Small Business Assistance Loan Program for Connecticut or Rhode Island based businesses, providing business owners with an easy way to access financing for up to $ 10. $ 000 while working to recover from the challenges of the Covid-19 pandemic. Currently, funding of $ 2,500,000 has been allocated to this program.

The program includes abbreviated application and minimal documentation to get businesses with less than $ 2,000,000 in annual sales and up to 20 full-time employees the financing they need on a timely basis. Companies are encouraged to check the eligibility requirements before applying, and if they meet the conditions, to apply as soon as possible in order to be considered.

“Despite government efforts at the onset of the pandemic, many of our small, local businesses still face daunting challenges to survive and thrive in today’s tight economic environment. At Chelsea Groton, we have always embraced the idea. helping our customers and our community through good and bad times, “said Tony Joyce, Executive Vice President, COO of Chelsea Groton Bank.” True to this philosophy, our team created the Small Business Assistance Loan to help struggling small businesses in our community, and we hope it will give business owners access to the financing they desperately need to stay operational.

Michael Rauh, President and CEO of Chelsea Groton Bank, added: “The Bank’s mission, which is’ We help our clients and our communities achieve their specific goals by taking them as if they were our own.” has been a common thread throughout the pandemic. . Our team is committed to rolling up our sleeves and literally working around the clock to help people, including our business community, in any way they can. The creation of this loan program is an example of this commitment in action. “

For full eligibility requirements, please visit When you’re ready to apply, call 860-448-4195 to get started.

This press release was produced by Chelsea Groton Bank. The opinions expressed here are those of the author.

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