Home Banking & Finance M&T Bank among nation’s top SBA lenders

M&T Bank among nation’s top SBA lenders

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M&T Bank again ranked in the top 10 in the nation for U.S. Small Business Administration lending, providing 1,115 7(a) loans for a total of $201 million to help local small businesses grow during the SBA’s 2021 fiscal year – a 28 percent jump in dollars from 2020 levels.

For 13 consecutive years, M&T has remained one of the top 10 SBA lenders in the country.

M&T was the leading small business lender in the SBA Districts of several communities it serves, including:

  • Baltimore: No. 1 lender with 227 loans for $45.3 million
  • New York City: No. 2 lender with 221 loans for $31.2 million
  • Buffalo / Rochester: No. 1 lender with 130 loans for $28.5 million
  • Philadelphia: No. 1 lender with 129 loans for $25.4 million
  • Washington, D.C.: No. 1 lender with 121 loans for $17.6 million
  • New Jersey: No. 2 lender with 102 loans for $15.5 million
  • Syracuse: No. 1 lender with 69 loans for $13.9 million
  • Delaware: No. 1 lender with 47 loans for $5.8 million

SBA loans are typically provided to businesses that may not qualify for traditional financing because they’re just starting up, operate in higher-risk industries, or lack sufficient collateral. By offering lower monthly payments and longer loan terms to eligible businesses, SBA loans help fuel local economies through small business development.

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To help businesses secure the funds they needed during the pandemic, M&T provided a total of $9.9 billion in funding to more than 58,000 businesses through the Paycheck Protection Program (PPP).

In its latest Greenwich Crisis Response Index (CRI), Greenwich Associates identified M&T as a “Standout” among commercial banks in its support of small business customers during the ongoing COVID-19 pandemic. M&T was one of just seven banks across the country to achieve this standout status for small business banking.

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