Tolland Medical Center LLC
Tolland Medical Center LLC is a business in Tolland, CT, in the offices of physicians (except mental health specialists) industry under NAICS code 621111. The company financed real estate or equipment through an SBA 504 loan of $1,583,000, approved on February 26, 2025, with Ion Bank as the bank partner and New England Certified Development Corporation as the certified development company.
SBA 504 loan, approved Feb 26, 2025
$1,583,000 SBA portionCDC: New England Certified Development Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,583,000
- Bank portion
- $2,208,334
- Estimated project size
- $4,212,593 (estimated)
- Estimated owner equity
- $421,259 (estimated, about 10% of the project)
- Bank lender
- Ion Bank, Naugatuck, CT
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- February 26, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 621111, Offices of Physicians (except Mental Health Specialists)
- Project location
- Capitol County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-2
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Larger than 41% of expansion loans in Offices of Physicians (except Mental Health Specialists) on this site.
- Average expansion loan in Offices of Physicians (except Mental Health Specialists): $2,141,987.
- Average expansion loan in Connecticut: $2,313,333.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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