Business Banking - FAQs

How can I access my Business Line of Credit?

You can access your line by check or by making a transfer via Online Banking.

Should I choose a Business Loan or Business Line of Credit?

Generally, a line of credit is a good choice if you aren’t sure exactly how much money you’ll need and over what period of time you’ll need it. A line of credit provides the working capital that every business should have to support its cash flow. A loan, on the other hand, is ideal if you want access to a one-time lump sum of money and more predictable repayment terms. Get in touch with a Webster Banker today for help choosing the right product for you.

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.

What do I need to apply for a Business Line of Credit?

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 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 do I need to apply for an SBA Financing Solution?

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 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 is an SBA Financing Solution?

The SBA, or Small Business Administration, has financing solutions designed for business owners who have needs beyond conventional loans. Webster Bank works with the SBA as a Preferred Lender to help you access these programs and get the support and cash flow that your business needs. Work with a Webster SBA Financing Specialist today to find lending terms that work for you.

What types of checks can I deposit?

You can deposit any check drawn on a US bank with a valid Routing and Transit Number, including money orders, credit card checks and postal money orders. Foreign checks cannot be processed using this service.