KeyBank Rises to 7th Among Nation's Top Banks For SBA 7(a) Lending

Rhea-AI Summary

KeyBank has achieved significant recognition in small business lending, ranking 7th nationally for SBA 7(a) loans in FY 2020, with $316 million in approved loans. This follows its success in the Paycheck Protection Program, where it facilitated over $8.1 billion for more than 43,000 small businesses. KeyBank also received top rankings in various districts, notably number one in Indiana. The bank's commitment to supporting small businesses remains strong, with ongoing investments in its team and services to aid economic recovery.

Positive

• KeyBank ranks 7th nationally for SBA 7(a) loans in FY 2020 with $316 million approved.
• Assisted more than 43,000 businesses with over $8.1 billion through the Paycheck Protection Program.
• Ranked number one in SBA loan volume in Indiana.
• Ongoing investments in team growth to support small businesses post-pandemic.

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• None.

CLEVELAND, Oct. 8, 2020 /PRNewswire/ -- KeyBank's support for small business reaches a new high, moving into the top ten in the Small Business Administration's (SBA) rankings. KeyBank now ranks 7^th nationally among suppliers of 7(a) loans for the SBA's FY 2020. KeyBank secured $316 million in approved 7(a) dollars over the course of the year. This is funding outside of KeyBank's efforts through the Paycheck Protection Program, where KeyBank helped more than 43,000 small businesses acquire more than $8.1 billion in critical funding. Since 2015, KeyBank has provided more than $1.6 billion in SBA-guaranteed financing to thousands of small business owners.

"This has been a trying year for small businesses, which are the economic heartbeat of so many of our communities. Supporting them through our strong relationships has been our mission, and we are committed to providing them access to capital through the SBA loan programs to sustain and scale their businesses," said Jim Fliss, KeyBank National SBA Manager.

KeyBank received a number one ranking in SBA loan volume in the SBA district of Indiana. KeyBank ranked second in Seattle, Maine, and Alaska and third in Cleveland, Buffalo, Portland, and Boise.

"I am pleased to see that we are seeing lending growth in a time when the overall SBA industry is experiencing a downturn. Our perennial ranking amongst the industry's top lenders continues to validate our unwavering support to help small businesses. This year has been unique in many ways, but I am impressed with the extraordinary effort across our organization to come together united in the goal of meeting our clients' needs in uncertain times," said Fliss. "I know with certainty our efforts made a difference to these businesses, their employees and the communities they operate in," Fliss continued.

KeyBank's SBA team continued to grow its presence in 2020 with the addition of several new team members across the bank's nationwide footprint.

"We remain optimistic looking into the future and continue to make investments in our team to ensure we can support our clients every step of the way during the pandemic economic recovery and beyond," said Jim Fliss.

For more on KeyBank SBA 7(a) loan information: https://www.key.com/small-business/banking/loans-lines/sba-loans.jsp

About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $171.2 billion at June 30, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC. ©2020. KeyCorp. CFMA #201005-885944

 

 

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SOURCE KeyCorp

FAQ

What is KeyBank's ranking in SBA 7(a) lending for FY 2020?

KeyBank ranks 7th nationally in SBA 7(a) lending for FY 2020.

How much funding did KeyBank provide in SBA 7(a) loans?

KeyBank provided $316 million in approved SBA 7(a) loans in FY 2020.

How many small businesses did KeyBank help with the Paycheck Protection Program?

KeyBank helped over 43,000 small businesses secure more than $8.1 billion through the Paycheck Protection Program.

What states did KeyBank rank highly in for SBA lending?

KeyBank ranked number one in Indiana, and second in Seattle, Maine, and Alaska for SBA lending.

How has KeyBank supported small businesses during the pandemic?

KeyBank has been committed to supporting small businesses through lending programs and investing in its team to aid economic recovery.