New services, products to help business clients bank when, how they want
M&T Bank announced a series of new and upcoming services for its small business customers, including a new online business loan application, new business credit cards and a new business cash management platform.
"As our community's leading bank for businesses, we understand that today's business owners expect more options, more access, more speed and more security. In anticipation of our customers' evolving needs, we have been working hard, and investing substantially, to provide the solutions they need to run their businesses successfully," said Eric Feldstein, senior vice president and head of business banking at M&T Bank.
Business Online Lending Platform
M&T Bank announced plans to start offering online business loans in mid-2018. The new business online lending platform advances M&T Bank's strategy of leveraging innovative digital technologies that create seamless end-to-end customer experiences.
The new service will enable current business clients to apply for loans and lines of credit up to $100,000 through a simple online application. In most cases, customers will be notified of approval decisions the same business day, and loans will be funded within three business days.
"With this new online lending technology, we have simplified the process of applying for smaller credit requests, enabling more businesses to access the credit they need online, with swift decision making," Feldstein said.
The new lending platform will offer an all-digital experience, but customers will still be able to work with a branch manager or relationship manager to guide them through the process for obtaining a business loan.
Business ACH & Wire Transfers Service
M&T Bank announced the rollout of M&T BizPay, a new ACH and wire transfer service integrated with M&T online banking for business. The new service creates a more convenient and simpler channel for business clients to quickly pay vendors and perform payroll services, in many cases the same business day.
"Today's business owners are busier than ever, and any opportunity to make the process around money transfer or cash flow management more convenient is incredibly important," Feldstein said. "We believe M&T BizPay is one of the best solutions on the market for small- to medium-sized businesses and look forward to introducing it to our clients."
To learn more about any of these services, businesses can stop by any M&T branch, contact a relationship manager or call 1-800-724-2240.
In the past year, M&T Bank has received a number of honors for excellent service to business customers. This recognition includes 10 Excellence Awards from Greenwich Associates for providing exceptional service quality to businesses and "Highest in Small Business Banking Satisfaction in the Northeast Region" from J.D. Power Associates.
M&T Bank provides a full range of banking, investment, insurance and mortgage products and services designed for businesses and their owners. The company ranks as one of the 20 largest U.S.-based commercial banks, as well as the 8th largest U.S. Small Business Administration lender in the nation and No. 1 lender in most of its larger communities, including Baltimore, Buffalo, Delaware and Washington, D.C.
