Southington Man To Oversee Business Loans At Local Bank

Merchants Bank

SOUTHINGTON, CT — A local man has been hired to oversee business development loans at a prominent bank's Southington branch.

Carmel, Ind.,-based Merchants Bank has hired Juan “Jay” Arana as a senior business development officer in the Small Business Administration (SBA) lending division. He will be based in Southington.

Arana has more than 30 years of experience in commercial lending for financial institutions, recently serving in senior-level commercial relationship management roles for companies including Everwise Credit Union, Sun State Bank, and Growth Commercial Capital.

His experience as a senior loan officer for the U.S. Small Business Administration brings unique insight to Merchants’ SBA Lending, wrote the bank in a release.

As a senior business development officer, Arana will create strategies to generate new business, leveraging his network in Connecticut and throughout the East Coast.

His additional responsibilities will also include originating SBA 7(a) and 504 loans.

“Jay is going to be an excellent addition to Merchants Bank and our SBA group,” said Jeff Scott, [resident of SBA Lending for Merchants Bank. “Small businesses need and deserve robust support in today’s economy, which is why we are continuing to grow the SBA team. Jay’s experience lends itself to the support our businesses need, and his network in Connecticut opens up new opportunities for our team.”

Arana holds dual bachelor’s degrees from Fairleigh Dickinson University in finance and business management.

He received formal credit analysis training from the Wharton School of Business.

To learn more about Merchants Bank, visit www.bankmerchants.com or find Merchants Bank on Facebook, LinkedIn, X, and Instagram.