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M&T ascends to 5th among nation's top small business lenders

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Mon, Oct 19th 2020 09:45 am

US Small Business Administration data also shows M&T approved more 7 (a) loans for small businesses than any other lender in Baltimore, Buffalo/Rochester, Delaware, Philadelphia, Syracuse, Washington, DC

M&T Bank recently announced it ranked fifth in the nation for the Small Business Administration’s (SBA) fiscal year 2020, reflecting its commitment to helping small businesses and communities thrive by providing small business owners with valuable expertise and flexible financing solutions.

M&T extended 1,110 loans for a total of $157 million over the course of the year. This is funding outside of M&T’s efforts through the Paycheck Protection Program (PPP), where M&T helped more than 35,000 small businesses acquire more than $7 billion in funding. M&T has been one of the top 10 most active SBA 7(a) lenders in the U.S. for the past 12 years.

“Our support of small business owners is unwavering, especially during these challenging times,” said Eric Feldstein, head of business banking at M&T Bank. “Small businesses are a vital part of our communities and local economies, and it is times like these when our customers and communities need us most. I could not be prouder of the commitment and compassion that my colleagues have demonstrated throughout the year, and am certain that their efforts made a difference in people’s lives.”

According to the SBA, M&T continued its long-held position as a top-ranking lender in many of its major communities, including:

  • Baltimore SBA District – No. 1 lender with 241 loans for $35.3 million. M&T issued more than 50% of the total number of loans in the district.
  • Buffalo / Rochester SBA District – No. 1 lender with 153 loans for $25.3 million.
  • Delaware SBA District – No. 1 lender based on total number of loans, with 44 loans totaling $7.5 million.
  • New Jersey SBA District – Second-leading lender in total number of loans issued, with 88 loans for $18.9 million.
  • New York City SBA District – Second-leading lender in total number of loans, with 192 loans for $16.9 million.
  • Philadelphia SBA District – No. 1 leading lender ranked by total number of loans, with 118 loans for $15.9 million.
  • Syracuse SBA District – No. 1 lender with 70 loans for $11.6 million.
  • Washington D.C. SBA District – No. 1 lender based on total number of loans, with 143 loans for $19.3 million.

M&T Bank provides a wide range of credit solutions to small businesses, ranging from conventional loans to SBA loans and other government-sponsored lending programs.

For more information on M&T’s small business products and services, visit www.mtb.com/business. For additional information on SBA programs, visit www.sba.gov.

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