BUFFALO, N.Y., Oct. 16, 2017 /PRNewswire/ -- M&T
Bank remained a leading provider of new loans guaranteed by the
U.S. Small Business Administration during the recently completed
2017 federal fiscal year, ranking 8th nationally in 7(a)
loans, which is the SBA's most widely used loan program.
M&T continued its long-held position as the number one small
business lender based on total 7(a) loans in the SBA's Baltimore, Buffalo, Delaware and Washington, D.C. districts and was the second
largest lender in Philadelphia and
Syracuse.
M&T's average 7(a) loan was $147,138, with the bank providing $183.6 million in financing to 1,248 business
owners.
"We are proud to have once again expanded our total lending to
small businesses over the past year and SBA loans are one of the
many tools we have to help entrepreneurs start and grow businesses.
Whether it's the small manufacturer buying a new piece of
equipment, or the neighborhood dentist opening a second office,
small businesses are the backbone of the economy across many of our
communities and we will continue to partner with the SBA to help
these businesses provide jobs in their communities," said M&T
Senior Vice President for Business Banking Eric Feldstein.
M&T also continued to build relationships with more small
businesses in the New York City
metropolitan area and New Jersey.
In the New York City SBA District, which is home to several of the
nation's largest financial institutions, M&T was the
3rd largest SBA lender based on total 7(a) loans.
M&T finished 4th in total loans within the Newark
SBA District.
The 7(a) program is the SBA's largest loan guarantee program,
helping start-up and existing small businesses with operating
capital for a variety of business purposes.
About M&T Bank:
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.
© 2017 M&T Bank. Member FDIC.
Equal Housing Lender
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SOURCE M&T Bank