Small Business Loans in Connecticut

Medical private practices are one of the biggest industries in Connecticut. But one of the challenges that private medical businesses face in Connecticut is funding. While they may be able to bootstrap their business at the beginning, they may eventually have to seek other ways to fund their business. This is where small business loans come in.

Doctors, dentists, physical therapists, and other medical professionals have a variety of choices when it comes to medical business loans. For instance, equipment financing could be viable if they’re looking to lease or upgrade their x-rays, ultrasound, microscopes, and other diagnostic equipment. Aside from that, a business line of credit could also be a good safety net for emergencies and other unforeseen expenses.

The 43,900 retail companies in Connecticut employ 554,700 workers, which is approximately 24% of the state’s workforce. Looking at the numbers, one cannot deny the retail industry’s impact on the state’s economic development.

CT small business loans can help retail businesses in Connecticut fund certain business initiatives. Whether they’re looking to finance expensive equipment or get a working capital boost to reorder inventory, there is the right business financing option for your retail company.

With the help of the financing professionals at AB Funding, retail businesses can get an expert opinion on small business loans and be guided on how they can use them to their business’ advantage.

As a business owner in Connecticut, you’ll be glad to know that there is a wide range of loan options available for you. This includes:

• Term Loans
• SBA Loans
• Invoice Financing
• Inventory Financing
• Business Lines of Credit
• Purchase Order Financing
• Equipment Financing
• Asset-based Loans

Each financing option may require different documents and qualifications. Government-backed loans, specifically SBA loans, are notorious for their lengthy application process and extensive documentation process. Whereas invoice financing or purchase order financing may only need basic documents like identification, bank statements, and tax returns.

If you’re still on the fence about the different loan programs, feel free to schedule an appointment with one of our experts for a quick walk-through of AB Funding’ financing products and application process.

If approved, small business owners can get up to $5 million in funding with AB Funding. They can then use the proceeds to fund certain business initiatives like:

• Reordering inventory
• Payroll
• Refinancing debt
• Buying equipment
• Commercial real estate investment
• Construction
• Acquiring another business
• Fund marketing strategies
• Renovations
• Improve cash flow

Some business loans might require you to spend the proceeds toward a fixed purpose, such as in equipment loans. However, the majority of business loans do offer borrowers some spending flexibility. You might use it to top up inventory, renovations, advertisements, etc.

Be sure to know what the stipulations of the loans are before signing the agreement. This way, you’ll know exactly what to expect moving forward.