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March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Westport, Connecticut

 
Loan Census SBA Loan Info

Getting a business loan in Westport, Connecticut seems challenging at first, but we're here to help you get started.

This article is written specifically for entrepreneurs in Westport, Connecticut who are interested in getting a small business loan.

Local Westport Business Loan Sources

Without further adieu, here's our list of small business banks in Westport.

Small Business Bank Recent SBA Loans
Citibank FSB - Full Service Financial Centers- Westport- Westport Plaza- Citiphone- Bran  
Connecticut Commun Bank National A 2
Cornerstone Bank  
Fairfield County Bank Corp 1
First County Bank - Westport Office  
First Union - This Number Serves- the Following  
Fleet Bank  
Paradigm Business Funding Inc.  
People's Bank  
Wachovia - Financial Centers- Westport Office ATM  
Webster Bank  
Westport National Bank  

Other Lending Resources for Westport Businesses

This is a list of banks outside of Westport, Connecticut that have provided SBA loans to Westport businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
11
Bank Of America
Providence, RI
14
Capital One
Mclean, VA
4
Cit Small Business Lending Corp
Livingston, NJ
4
Fairfield County Bank Corp
Ridgefield, CT
3
First County Bank
Stamford, CT
2
Hsbc Bank Usa
Buffalo, NY
1
Jpmorgan Chase Bank
Houston, TX
2
Manufacturers & Traders Trust
Buffalo, NY
1
Newalliance Bank
New Haven, CT
1
Rbs Citizens
Providence, RI
1
Td Banknorth
Mahwah, NJ
1
Td Banknorth
Meriden, CT
1
The Bank Of Greenwich
Greenwich, CT
2
Wachovia Bank
Charlotte, NC
1
Webster Bank
Cheshire, CT
1
Webster Bank
New Haven, CT
2
Webster Bank
Norwalk, CT
1
Webster Bank
Waterbury, CT
1

Tips for Getting a Business Loan in Westport

Prior to reaching out to banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list are SBA lenders. Prior to visiting local banks, you may want to get up to speed on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

If you are planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

Business Loan Sources for Other Cities in Connecticut
Get a Business Loan in West Haven
Get a Business Loan in Wethersfield

Browse All Business Loan Sources for Connecticut