When small, entrepreneurial businesses come to Damon Arpin at Sovereign Bank, they can be confident he will be able to help them.
The reason? Simply put, he knows where they are coming from. Prior to his more than decade-long banking career, first at Fleet Bank and for the last half-dozen years at Sovereign, Arpin started two businesses and helped a third improve its profitability.
In businesses that have sales of less than $25 million (Arpin’s bailiwick), that kind of experience can mean the difference between success and failure. And in Arpin’s case, there have been a lot more of the former than the latter. In 2008, he was the bank’s No. 1 relationship manager in New England, working with about 100 clients whose needs range from deposit growth, to new loans, credit management and expanding the bank’s relationship with the client. He is known for his high-level customer service skills.
It all sounds so simple when compared with Arpin’s experiences as an entrepreneur. His last venture before banking involved the creation of a parts, accessories and apparel retailer for Harley-Davidson enthusiasts.
As any small-business owner knows, Arpin had to create a business plan, secure financing based on that plan, then execute on the plan. He clearly had a solid grasp on the three components of the project, because after two years he sold the business, collecting twice the initial investment in the process.
But as important as it is for Arpin to help others during the workweek, it is clear he gives generously of himself on his own time.
For more than a decade he has been volunteering at the Nickerson House Community Center, the 125-year-old social service agency serving the underprivileged children and adults of Providence. His service there has been recognized with a seat on the board. He is also an honorary committee chair for School One, the alternative high school located in the city’s East Side. •
