Does People's United Bank in CT offer small business loans?


Quick Answer

People's United Bank in Connecticut offers small business loans in the form of term loans, equipment loans and Small Business Administration loans. The bank also extends lines of credit and commercial mortgages to business owners, says People's United Bank.

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Full Answer

Business financing by People's United is long-term, up to 10 years. The bank tailors equipment loans to the industry and vendor specifications, claims People's United Bank. If a business owner does not qualify for these types of bank-provided financing, People's United helps him apply for a loan from the Small Business Administration.

Lines of credit are short-term, variable-rate financing solutions. Commercial mortgages can be repaid over a period of up to 20 years. All business financing decisions are made at local branches at the time of application, according to People's United Bank.

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