WEBSTER BANK

WEBSTER BANK was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 21,777 PPP loans totaling $2.65B, representing approximately 0.19% of all loans nationwide.

WEBSTER BANK served borrowers across 36 states. The largest concentration of activity was in Connecticut, where the lender originated 13,616 loans totaling $1.29B. Other states with significant activity included New York, Massachusetts, Rhode Island.

The average loan size for this lender was $121,476. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.

Among the largest named borrowers that received loans through WEBSTER BANK were: KCM TECHNICAL INC. (MI) — $9,931,800; TEE OFF TEMPS, INC. (FL) — $9,347,100; TRIUMVIRATE ENVIRONMENTAL, INC. (MA) — $9,045,899; and ACTIVE MEDIA SERVICES, INC. (NY) — $8,519,524.

PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.

Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.