Webster Bank launches ‘Fast Track’

Webster Bank, a Northeastern regional bank with a location in Wilton has launched a new loan service technology for small businesses called “Fast Track.”

“Thanks to an auto-decisioning process targeted towards loans under $100,000, small-business owners can now receive funding in less than half the time they are accustomed to waiting,” a Webster press release said.

The press release said small-business owners wait approximately 60 days on average for bank funding, from the time they complete an application to the time they receive a loan.

According to Webster, Fast Track can cut the process to 15 days, and has completed it in one day “under special circumstances.”