BUFFALO, N.Y., Oct. 23, 2019 /PRNewswire/ — M&T Bank continues its leadership in small businesses lending, ranking No. 7 nationally and No. 1 in many of its major communities for the U.S. Small Business Administration’s (SBA) fiscal year (FY) 2019.
Over the course of the year, M&T Bank extended 1,449 loans for a total of $178.8 million, which is up from 1,403 SBA loans for $172.6 million in 2018. M&T Bank has been one of the top 10 most active SBA 7(a) lenders in the U.S. for the past 11 years.
“Our support of small business owners is unwavering, and our consistent top ten ranking demonstrates that commitment,” said Eric Feldstein, head of business banking at M&T Bank. “We’ve long been a proud partner with the SBA to offer a range of lending solutions to help small businesses grow and prosper in their local communities.”
Results released by the SBA show that M&T Bank continued its long-held position as a top-ranking SBA lender in many of its major communities, including:
- Baltimore SBA District – Number one lender with 323 loans for $40.7 million. M&T issued more than 50 percent of the total number of loans in the district.
- Buffalo SBA District (incl. Rochester) – Number one lender with 186 loans for $19.3 million.
- Delaware SBA District – Number one lender based on total number of loans, with 50 loans totaling $4.4 million.
- New Jersey SBA District – Second leading lender in total number of loans issued, with 108 loans for $13.7 million.
- New York City SBA District – Third leading lender in the total number of loans, with 201 loans for $16.5 million, representing a 30.5 percent increase in total loans.
- Philadelphia SBA District – Second leading lender ranked by total number of loans, with 184 loans for $24.7 million.
- Richmond SBA District – Second leading lender in the total number of loans, with 42 loans for $6 million. Last year, M&T Bank ranked third with 38 loans.
- Syracuse SBA District – Number one lender based on total number of loans, with 107 loans for $11.2 million.
- Washington D.C. SBA District – Number one lender based on total number of loans, with 186 loans for $33.2 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.
M&T Bank Corporation (NYSE: MTB)(“M&T”) is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
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© 2019 M&T Bank. Member FDIC. Equal Housing Lender.
SOURCE M&T Bank