BUFFALO, N.Y., June 19, 2018 /PRNewswire/ -- M&T Bank
announced today 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 today 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," said added Feldstein.
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 Credit Card Program
M&T Bank announced
today it has launched a new credit card program for businesses that
provides customers with flexible access to funds and the
opportunity to earn points from purchases, as well as enhanced
conveniences.
The new suite of cards includes the M&T Business Rewards
Credit Card and M&T Business Credit Card, which are both
available with a zero percent Annual Percentage Rate (APR) on
purchases and balance transfers for 12 billing cycles. The M&T
Business Rewards Credit Card offers 1.5 percent cash back on all
purchases with no annual fee. There are no foreign transaction fees
assessed with either card.
The cards will now be available at M&T Bank's more than 750
branches, as well as through a relationship manager, and can be
integrated with the M&T's online banking platform, known as
Online Banking for Business. They also include "design your card"
features, online and mobile account access, fraud protection and
the ability to pay using Apple Pay, Google Pay and Samsung Pay.
"Our business is built around understanding the needs of our
customers and directly providing them with excellent solutions and
relationship management. Making this move to offer our own credit
cards to small businesses allows us to continue to build on that
direct service relationship," added Feldstein.
The company previously provided credit cards to businesses
through a third-party.
For more information on new suite of cards, please visit
https://www.mtb.com/business/business-banking/business-financing/credit-cards.
Business ACH and Wire Transfers Service ("M&T
BizPay")
M&T Bank today 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," added
Feldstein. "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."
For more information on M&T BizPay, please visit
https://www.mtb.com/business/business-banking/cash-management/payables/mt-bizpay.
To learn more about any of these services, businesses can stop
by any M&T branch, contact their Relationship Manager or call
1-800-724-2240.
In the last 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 (SBA) lender in
the nation and number one lender in most of its larger communities,
including Baltimore, Md.,
Buffalo, N.Y., Delaware and Washington, D.C.
Additional information on M&T Bank can be accessed
at www.newsroom.mtb.com.
About M&T Bank
M&T Bank Corporation 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. ©
2018 M&T Bank. Equal Housing
Lender. Member FDIC.
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SOURCE M&T Bank