Webster Bank Recognized as Top SBA Lender for New England
Total loan volume more than doubled in 2021 as Webster supported small business owners through the pandemic
WATERBURY, Conn., Jan. 7, 2022 /PRNewswire/ -- Webster Bank has once again been recognized as the top bank in New England by dollar volume for the 7(a) and 504 programs as recorded by the U.S. Small Business Administration (SBA) in fiscal year 2021. In New England, Webster granted 246 SBA loans totaling more than $123 million. The bank's total loan volume more than doubled to $175 million in calendar year 2021 from $80 million in 2020.
Webster also ranked among the Top 100 Most Active SBA 7(a) Lenders in the country for the 2021 fiscal year. Also, through the Paycheck Protection Program (PPP) it supported small business owners, protecting more than 110,000 jobs, as the bank approved more than 18,000 PPP loans totaling nearly $2 billion.
Webster also has been the Top SBA lender in its headquarters state of Connecticut for 15 of the last 16 years.
"As a preferred SBA lender, our team of bankers has the leadership, experience and deep understanding of SBA programs to enable us to best serve our small business owner customers," said Gregory Gould, senior vice president and manager of Government Guaranteed Lending, Webster Bank. "We understand the challenges that small business owners have faced due to the pandemic and work with them to find the right SBA lending opportunities to meet their needs."
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SOURCE Webster Bank
Company Codes: NYSE:WBS
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