SBA Loan Features & Benefits
If you have a vision for your business but need access to longer loan terms and lower down payment options, turn to a Webster SBA Financing specialist to see if it’s the right option for you. Whether you want to start, expand or purchase a business, acquire short- or long-term working capital, buy equipment or owner-occupied real estate – you can make it happen with SBA guaranteed funds.
Key features and benefits of Small Business Financing Solutions:
- Choose either a loan or a line of credit, depending on your business needs
- Quick loan approval process
- Longer terms and lower down payment options
- Government guaranteed funds from the Small Business Administration
- Specialty programs for veterans, women and minorities
- Trust Webster Bank as a Preferred Lender with the Small Business Administration and one of the largest and most active SBA lenders in New England
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 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
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.