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Richard Balestracci

SVP, Commercial Lending Department Manager

Richard Balestracci

How Can I Help You?

My team and I are excited to help your business achieve its goals by providing insightful guidance and expertise in obtaining the right commercial loan product for your needs. Whether you need a commercial loan, working capital line of credit, real estate loan, or construction financing, we have a full suite of products and expertise to find the right solution. In recent years, I worked with Sift Bake Shop, 85th Day  Restaurant Group, and many others, including business owners in construction and manufacturing, to help finance their businesses and support their dreams.

A Little About Rich Balestracci

I joined Chelsea Groton Bank in 2014, and have assumed roles of increasing responsibility with the Commercial Lending team since that time. I am an active member of the community, serving as the treasurer of the Stonington Community Center, treasurer and coach for the Stonington Soccer Club, loan committee member for the Southeastern Connecticut Enterprise Region (SECTER), and board member of the Stonington Police Commission. My family and I live in Pawcatuck, where we can often be found enjoying all of the great things our community has to offer, including boating, fishing, hiking, and soccer.

I feel honored to have been selected as a New Leader in Banking by the Connecticut Banker’s Association (CBA) and American Business Media. The 13 recipients of this award are considered to be outstanding employees who have made a notable impact in both their bank and the community, beyond their job description. I was named to The New London Day’s 40 Under Forty list in 2015, and was recognized by the Independent Community Bankers of America (ICBA) as a “40 Under Forty” leader in 2020.

I earned a bachelor’s degree in economics from the University of Connecticut in 2007 and a MBA for emerging leaders from the University of New Haven in 2013. I also completed the Chamber of Commerce of Eastern Connecticut Leadership Program, and am a recent graduate of the American Bankers Association’s Stonier Graduate School of Banking at the University of Pennsylvania.