www.HartfordBusiness.com • April 22, 2019 • Hartford Business Journal 25
up opportunities. It makes the financing of operating capital, fixed assets and
business acquisitions — the building blocks of small companies — possible.
The bank is not the only one that partners with the SBA, but is recognized as one
of the best SBA lenders in the state.
In the fiscal year ending September 30, 2018, the SBA Connecticut District Office
backed 864 loans totaling $317 million. The SBA named Webster Bank as winners
in the Top Lender by Dollar and Top 504 Third-Party Lender by Volume state
categories.
"We were the No. 1 bank in all of New England for lending in dollars," said Polito.
"To beat out all the other banks …. Well, I'm still over the moon about it."
Active in acquisitions
Where Webster Bank has made a name for itself in SBA lending overall, acquisition
lending is where the institution truly shines. Acquisitions are an area of high
demand, said Polito.
Perhaps it's a case of a mom-and-pop business where the owners want to retire.
Do they sell the company to their employees? To one or all of their children? Or
to someone else in the market for a business like theirs? This is where Polito and
his team of eight SBA professionals — representing about a century's worth of
combined experience — offer insight and wisdom customized to that buyer or
seller's particular situation.
"We have a reputation in the field as the bank to go to for acquisitions," said
Polito. It's a reputation that has grown organically over time, fueled by widespread
referrals and cycles of happy clients.
www.HartfordBusiness.com • April 22, 2019 • Hartford Business Journal 21
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| Robert Polito Jr., director of government guaranteed lending, Webster Bank |
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