Chelsea Groton loan officer helped nearly 100 businesses get PPP loans

28 Dec 2020

Small Business

When the Small Business Administration released data on Paycheck Protection Program recipients in early July, it became apparent that Chelsea Groton Bank was the most prolific lender of funds to businesses in southeastern Connecticut as it had distributed 556 loans totaling $74 million.

Bank employees worked late hours trying to get as many applications processed as possible over a short period. One of the people working behind the scenes to keep businesses afloat was commercial loan officer Rich Balestracci, who said he helped nearly 100 businesses.

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