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Now open—starting a business successfully
Properly utilized, capital is the fuel that can propel your company. Learn how to turn your vision into growth with strategic financing.
Before you make any commitments, consider the following financing options and choose the one that’s right for your business.
A preset amount that can be accessed as needed in desired sums up to the borrowing limit.
Lump sum with predictable repayment terms for a wide range of business purposes (e.g., buying equipment, acquiring working capital or purchasing a business). SBA loans offer longer terms and require less money down than conventional business loans.
One-time disbursement with fixed monthly payments for equipment and other fixed-asset purchases.
Long-term financing with competitive rates when purchasing, refinancing or renovating both owner-occupied and investment commercial real estate.
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When opportunity knocks, you should be ready to move.
Consider the following regardless of whether you’re currently looking for financing.
Gather your financial statements from the last three years, especially your profit and loss statements (P&L) and balance sheets. While certainly not an exhaustive list, these steps can help shape your funding and growth plan.
Know your options
Weigh the pros and cons of your various financing options, many of which are listed above.
Speak with industry experts, mentors and senior staff about where the market is headed.
Get a sense of what your competitors are doing and know they’re probably studying you as well.
Think about how changes to your workforce (e.g., new hires) could affect your bottom line.
Consider how your company will react to news, both good (e.g., unexpected business) and bad (e.g., import tariffs).
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. Total business loan exposure at Webster Bank cannot exceed $250,000 and loans can only be secured by business assets, excluding real estate.
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