Small Business Loans - Webster Bank Named Top SBA Lender In Connecticut

The Webster Bank has been declared the top U.S. Small Business Association (SBA) lender in Connecticut, in terms of both the number of loans approved, as well as the total value of loans approved, for the third year in succession. The Webster Bank’s record in terms of SBA 504 loans is even more impressive, being named the top SBA 504 lender in Connecticut for the ninth year in a row. During the 2009-2010 federal fiscal year that ended on the 30th of September, the Webster bank had approved an impressive 68 SBA loans, with a total combined value of $21.4 million.

Robert F. Polito Jr., a Senior Vice President and Director of Government Guaranteed Lending at the Webster Bank, issued the following statement regarding the relationship between his bank and the SBA: “The SBA Webster Bank partnership has assisted many new and existing customers in accessing critical capital to maintain and grow their businesses. The SBA allows us the flexibility to deploy credit on very favorable terms, especially in today’s economically challenged environment.” The recognition given to the Webster Bank highlighted the bank’s commitment to helping their local economy to recover, by helping small businesses throughout Connecticut to grow.

Timothy D. Bergstrom, who is also a Senior Vice President at the Webster bank, in addition to serving as the Director of Relationship Sales for Business & Professional Banking, also commented on how the Webster Bank was able to help revive their local economy with help from the SBA: “As the largest independent commercial bank headquartered in New England, Webster is committed to helping fund the recovery in the region. Our partnership with the SBA enhances our ability to assist the small and medium-size businesses that are the engines of economic growth.”