Lilly’s Preschool Opens With a Small Business Loan From the Town
Lilly’s Preschool, LLC has recently acquired the former Sunshine Preschool. This acquisition includes business assets and real estate at the 20 Augur Street Hamden, CT location. This transaction was made possible through the utilization of a SBA, 504 program, small business assistance loan through Citizens Bank and the Town of Hamden’s Micro Loan Program. The owners of Lilly’s Preschool, Leslie and Otoniel Reyes, have just closed on all of the financing including the $35,000 loan through the Town’s program.
This is the second loan to close through the Micro Loan Program in the last three months. Earlier this year Absolute Best Lawn Care, LLC closed on a loan through this program in the amount of $25,000. The funds acquired were used to purchase Lucky Landscaping, LLC with its assets and relocate the business from North Branford to a Hamden location.
Both Lilly’s Preschool and Absolute Best Lawn Care participated in the Hamden’s Business Assistance Center (BAC). The BAC offers free business consulting services to Hamden residents or people opening a business in Hamden.
Following this recent loan closing, the Director of Hamden’s Department of Economic Development, Dale Kroop, commented, “I am pleased to see that businesses are utilizing the tools that the Department offers. The Micro Loan Program, just one of the incentives offered by the Department, is allowing for not only businesses to form but to also grow. In the last two months we have seen two loans closed with small businesses in which the funds were used to acquire and expand upon existing businesses in the Town.” These Micro Loans provide new or expanding businesses with assistance to purchase equipment/property and offer low interest rates to the borrowers.
For more information about the Micro Loan Program and other business incentives contact the Director of Economic Development, Dale Kroop, at (203) 287-7033. For information about the Business Assistance Center, contact Richard Pearce at 203-287-7030.
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