Small Business Term Loans
With this lending solution, you'll get a lump sum disbursement to cover your immediate or long-term financing needs. You'll get the buying power you need without having to dip into your working capital, plus a predictable, fixed monthly payment you can work into your budget.
Key features and benefits of a Small Business Term Loan:
- Competitive fixed rates for businesses
- Customized repayment terms to suit your needs
- Preferred rates for Webster business checking account customers
- Business loans ranging from $10,000 to $6,000,000
What is a term loan?
A term loan is a lump sum you borrow and repay in regular payments over a set period of time.
What do I need to apply for a business term loan?
To complete the application, you’ll need to provide general information about your business and personal information about each owner, including the following:
For the business:
- Tax Identification Number (TIN)
- Most Recent Federal Business Tax Return (complete return required)
- Number of years you have owned the business
- Information on your current business deposit & loan accounts (if not with Webster Bank, N.A.)
For the owner(s):
- Name, Address and Phone Number
- Social Security Number & Date of Birth
- Percentage of ownership
- Personal income and financial information
What are the requirements to apply for a business term loan?
If you have a business, we’re here to help. Whether you’re a start-up or a more mature operation, we encourage you to reach out to a Webster Banker to talk about your lending needs.
All credit products, pricing and overdraft protection are subject to the normal credit approval process. Some applications may require further consideration and/or supplemental information. Certain terms and conditions may apply. SBA guaranteed products may also be subject to additional terms, conditions and fees. Requires a Webster business checking account which must be opened prior to loan closing and which must be used for auto-deduct of payment.