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So you’re starting a small business or perhaps you’ve grown a business over the last couple of years that has leveled off. What do you do now? How do you raise the funds you will need to launch your business or get it growing again? Let me start off by saying that I am neither […]
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People seek SBA-guaranteed loans to start or buy a business, buyout a partner, get working capital, extend a loan or get a lower down payment on an asset purchase. Whatever your reason, here are six tips to help make your small business more attractive to SBA lenders. 1. Educate your banker Most bankers are generalists […]
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Across the nation, businesses have been stepping up to help safeguard the health of their employees and customers during this coronavirus pandemic. Webster Bank offers the following proactive steps to help you position your business for long-term recovery. #1 | Be aware of cyber fraud and scammers. Unfortunately, cyber scammers are already taking advantage of […]
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A business plan is an essential road map for success. It documents the route that your company intends to take in order to reach, maintain and grow revenues. There are many resources available to assist companies with building a business plan to achieve success, and the SBA is a great place to start! Check out […]
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Business owners are always looking for new opportunities to network and meet other small business owners and expand their business network. One great way to do this is to become a member of your local Chamber of Commerce! Many small businesses increase their business exposure and grow revenues through involvement in the Chamber. Here are some […]
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Most business owners have spent most of their life building their business and not so much time figuring out who will take over when it’s time to slow down. Transition planning requires careful thought as to who will lead the company you worked so hard to build. Your life’s circumstances will redefine your plans and […]
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Simply put, SBA loans are federally guaranteed commercial loans. The Small Business Administration (SBA) is an independent agency of the Federal Government that assists small businesses in many ways, including setting guidelines for SBA loans and backing them with a guarantee. An SBA loan is made through a commercial bank, such as Webster Bank, and […]
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As a small business owner, you balance the ability to quickly solve short-term problems while realizing long-term goals. That’s why we’d like to offer a new perspective on your goals for the coming year: Don’t plan for 12 months. Plan for 18. You can see the immediate needs ahead for capital: that new piece of equipment, the […]
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As part of Webster Bank’s Specialty Banking Team, I have the pleasure of working with a great mix of clients; some entrepreneurs are just starting out, while others are ‘seasoned’ borrowers. In any case, securing financing for your business start-up or expansion can be a time consuming, frustrating process. However, there are several things you can […]
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A financial Rx for medical practice growth “We’re modernizing our practice and upgrading our technology.” “We’re acquiring another practice and need to fund the purchase price.” “We want to invest in a health franchise.” “We’re expanding our business to offer new services and equipment for patients.” “We’d like to acquire commercial real estate to house […]
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