Loans Issued BY Chelsea Groton Bank

Loan Amount Company Name Location Lender
$2-5M THE NORWICH FREE ACADEMY Norwich , CT Chelsea Groton Bank
$1-2M DEFENDER INDUSTRIES, INC. Waterford , CT Chelsea Groton Bank
$1-2M DW TRANSPORT & LEASING North franklin , CT Chelsea Groton Bank
$1-2M FIBEROPTICS TECHNOLOGY, INC Pomfret , CT Chelsea Groton Bank
$1-2M GENERAL DIGITAL CORPORATION South windsor , CT Chelsea Groton Bank
$1-2M GIRARD MOTORS, INC Groton , CT Chelsea Groton Bank
$1-2M NEW LONDON COUNTY MUTUAL INSURANCE COMPANY Norwich , CT Chelsea Groton Bank
$1-2M SEA RESEARCH FOUNDATION, INC. Mystic , CT Chelsea Groton Bank
$1-2M THE SOUTHEASTERN COUNCIL ON ALCOHOLISM AND DRUG DEPENDENCE, INC. Lebanon , CT Chelsea Groton Bank
$350K-1M 500 WEST THAMES STREET, INC. Norwich , CT Chelsea Groton Bank
$350K-1M 85TH DAY RESTAURANT GROUP, LLC Mystic , CT Chelsea Groton Bank
$350K-1M ANTONINO 450 WEST THAMES, INC. Norwich , CT Chelsea Groton Bank
$350K-1M BOB VALENTI CHEVROLET, INC Mystic , CT Chelsea Groton Bank
$350K-1M BUILDERS CONCRETE EAST LLC Willimantic , CT Chelsea Groton Bank
$350K-1M BULK CONNECTIONS, INC. Mystic , CT Chelsea Groton Bank
$350K-1M CAR SERVICE INC. New london , CT Chelsea Groton Bank
$350K-1M CARRIAGE HOUSE OF NEW LONDON, INC New london , CT Chelsea Groton Bank
$350K-1M CHILDREN'S DENTAL ASSOCIATES OF NEW LONDON COUNTY, PC Bozrah , CT Chelsea Groton Bank
$350K-1M COSTA & SON LLC South windsor , CT Chelsea Groton Bank
$350K-1M D/E/F SERVICES GROUP, LTD. Jewett city , CT Chelsea Groton Bank
$350K-1M EUGENE O'NEILL MEMORIAL THEATER CENTER, INC. Waterford , CT Chelsea Groton Bank
$350K-1M FLANNERY ENTERPRISES, LLC East hampton , CT Chelsea Groton Bank
$350K-1M GUY'S OIL SERVICE STATION, INC. Niantic , CT Chelsea Groton Bank
$350K-1M HOYT, FILIPPETTI & MALAGHAN, LLC Groton , CT Chelsea Groton Bank
$350K-1M INDEPENDENCE PHYSICAL THERAPY Mystic , CT Chelsea Groton Bank
$350K-1M MATTERN CONSTRUCTION INC. Baltic , CT Chelsea Groton Bank
$350K-1M NEW ENGLAND PROPELLER SERVICE, INC. East haddam , CT Chelsea Groton Bank
$350K-1M NEW ENGLAND SCIENCE & SAILING FOUNDATION, INC. Stonington , CT Chelsea Groton Bank
$350K-1M S & P OYSTER CO. Mystic , CT Chelsea Groton Bank
$350K-1M SHIPMAN'S FIRE EQUIPMENT COMPANY, INC Waterford , CT Chelsea Groton Bank
$350K-1M SLOFT, LLC Mystic , CT Chelsea Groton Bank
$350K-1M SQUID HOUND, LLC Mystic , CT Chelsea Groton Bank
$350K-1M SUISMAN, SHAPIRO, WOOL, BRENNAN, GRAY & GREENBURG PC New london , CT Chelsea Groton Bank
$350K-1M THE COOPER GROUP LLC North stonington , CT Chelsea Groton Bank
$350K-1M THE PLANT GROUP, INC. North franklin , CT Chelsea Groton Bank

Frequently Asked Questions (FAQs)

A1: The CARES Act, officially known as the Coronavirus Aid, Relief, and Economic Security Act, is a federal law passed in March 2020 to provide economic relief to individuals, businesses, and healthcare providers affected by the COVID-19 pandemic.

The Paycheck Protection Program (PPP) is a part of the CARES Act designed to provide forgivable loans to small businesses to help cover payroll costs, rent, and other eligible expenses during the COVID-19 pandemic.

Small businesses, nonprofits, independent contractors, and self-employed individuals were generally eligible for PPP loans. Eligibility criteria and requirements may vary, so it's essential to check with the Small Business Administration (SBA) or your lender for specific details.

PPP loans were generally calculated based on a business's average monthly payroll costs. In most cases, businesses could receive up to 2.5 times their average monthly payroll costs, up to a maximum loan amount.

Yes, PPP loans are forgivable if the funds are used for eligible expenses like payroll, rent, and utilities. A certain percentage (usually 60% or more) of the loan must be used for payroll to qualify for full forgiveness

You can apply for a PPP loan through participating lenders, such as banks and credit unions. The SBA's website provides a list of lenders who participated in the program

Required documents typically include payroll records, tax forms, and other financial documents. Consult with your lender for specific documentation requirements

Deadlines for PPP loan applications have changed over time. It's essential to check the latest deadlines on the SBA's website or with your lender.

Yes, there is a second round of PPP loans (PPP2) available to eligible businesses. Requirements and eligibility criteria for PPP2 may differ from the first round.

You can request loan forgiveness through your lender by submitting the required documentation and forms. The forgiveness application process may vary based on the size and terms of your loan.