February 28, 2011
February 28, 2011
PEOPLE’S UNITED SMALL BUSINESS BANKING UNIT EARNS AWARDS FROM GREENWICH ASSOCIATES; UNIT ALSO CITED BY THE U.S. SMALL BUSINESS ADMINISTRATION AS LARGEST DOLLAR VOLUME 7(a) LENDER IN NEW ENGLAND
BRIDGEPORT, CT – The Small Business Banking Unit of People’s United Bank recently received four awards from Greenwich Associates, a business management consulting firm headquartered in Stamford, Connecticut. Additionally, People’s United was cited by the U. S. Small Business Administration (SBA) as the largest 7(a) lender (a type of small business loan), in New England by dollar volume, in for the SBA’s fiscal year 2010.
Of the 750 banks evaluated by Greenwich Associates, only 34 received their “Excellence in Small Business Banking” award. To determine the award winners, Greenwich Associates conducted over 14,000 interviews of executives in companies with annual revenues ranging from $1 million to $10 million.
The Greenwich Excellence in Small Business Banking award was granted in two categories: National Winners and Regional Winners. People’s United was cited in both categories.
In the National Winners category, People’s United earned the Greenwich Excellence award for “Overall Satisfaction” and for “Financial Stability.” In the Regional Winners category, People’s United earned the Greenwich Excellence award for “Overall Satisfaction” and for “Overall Satisfaction” with Treasury Management in the Northeast.
“We’re proud to have been honored by Greenwich Associates, but even prouder to know that these four awards were determined after 14,000 interviews with business banking consumers,” said Bill Samuelson, Senior Vice President Business Banking and Marketing for People’s United. “For more than 170 years, People’s United has worked with entrepreneurs and small businesses to help them grow,” Samuelson continued. “With the challenges in today’s economy, it is now more important than ever that we excel in this area, so that small businesses can expand and create new jobs that help put people back to work.”
Separately, People’s United was cited by the SBA as the bank that lent the highest dollar amount of 7(a) small business loans in New England. “We’ve always been an active lender in the small business arena,” said Patrick Lorent, Vice President, Government Guaranteed Lending Manager. “We’re very proud of this accomplishment and hope that the loans we make will help promote economic recovery in our region.”
People’s United Bank is a subsidiary of People's United Financial, Inc., a diversified financial services company with approximately $25 billion in assets. Peoples United Bank, founded in 1842, provides consumer, commercial and wealth management services through nearly 340 branches in Connecticut, Vermont, New Hampshire, Massachusetts, Maine and in Westchester County and Long Island, New York. Through additional subsidiaries, People's United provides equipment financing, asset management, brokerage and financial advisory services, and insurance services.