M&T Ascends to 5th Among Nation's Top Small Business Lenders

Rhea-AI Summary

M&T Bank has been recognized as the fifth largest SBA lender nationwide for fiscal year 2020, having issued 1,110 loans totaling $157 million. This achievement highlights M&T's dedication to supporting small businesses, particularly during challenging times. Beyond its SBA efforts, the bank facilitated over $7 billion in funding through the Paycheck Protection Program (PPP) for more than 35,000 small businesses. M&T continued to rank as a top lender in several key regions, including Baltimore and Buffalo, contributing significantly to local economies.

Positive

• Ranked fifth in the nation for SBA lending in 2020.
• Extended 1,110 loans worth $157 million outside of PPP.
• Facilitated over $7 billion in funding through PPP for more than 35,000 businesses.
• Top lender in Baltimore and Buffalo districts with significant loan totals.

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• None.

BUFFALO, N.Y., Oct. 14, 2020 /PRNewswire/ -- M&T Bank announced today it ranked fifth in the nation for the Small Business Administration's (SBA) fiscal year 2020, reflecting its commitment to helping small businesses and communities thrive by providing small business owners with valuable expertise and flexible financing solutions.

M&T extended 1,110 loans for a total of $157 million over the course of the year. This is funding outside of M&T's efforts through the Paycheck Protection Program (PPP), where M&T helped more than 35,000 small businesses acquire more than $7 billion in critical funding. M&T has been one of the top 10 most active SBA 7(a) lenders in the U.S. for the past 12 years.

"Our support of small business owners is unwavering, especially during these challenging times," said Eric Feldstein, head of business banking at M&T Bank. "Small businesses are a vital part of our communities and local economies, and it is times like these when our customers and communities need us most. I could not be prouder of the commitment and compassion that my colleagues have demonstrated throughout the year, and am certain that their efforts made a difference in people's lives."

According to the SBA, M&T continued its long-held position as a top-ranking lender in many of its major communities, including:

• Baltimore SBA District – Number one lender with 241 loans for $35.3 million. M&T issued more than 50 percent of the total number of loans in the district.
• Buffalo / Rochester SBA District – Number one lender with 153 loans for $25.3 million.
• Delaware SBA District – Number one lender based on total number of loans, with 44 loans totaling $7.5 million.
• New Jersey SBA District – Second leading lender in total number of loans issued, with 88 loans for $18.9 million.
• New York City SBA District – Second leading lender in total number of loans, with 192 loans for $16.9 million.
• Philadelphia SBA District – Number one leading lender ranked by total number of loans, with 118 loans for $15.9 million.
• Syracuse SBA District – Number one lender with 70 loans for $11.6 million.
• Washington D.C. SBA District – Number one lender based on total number of loans, with 143 loans for $19.3 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.

For more information on M&T's small business products and services, please visit www.mtb.com/business. For additional information on SBA programs, visit www.sba.gov.

About M&T
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.

Media Contacts

New York (excluding NYC):
Julia Berchou
716.842.5385
jberchou@mtb.com

New Jersey, Connecticut and New York City:
David Samberg
201.368.4515
dsamberg@mtb.com

Delaware, Maryland, Pennsylvania, Virginia and Washington, DC:
Scott Graham
410.244.4097
sgraham1@mtb.com

© 2020 M&T Bank. Member FDIC. Equal Housing Lender.

 

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SOURCE M&T Bank

FAQ

What is M&T Bank's ranking among SBA lenders for fiscal year 2020?

M&T Bank ranked fifth in the nation for the Small Business Administration's lending in fiscal year 2020.

How much did M&T Bank lend to small businesses in 2020?

In 2020, M&T Bank extended a total of 1,110 loans amounting to $157 million.

How much funding did M&T Bank facilitate through the PPP?

M&T Bank helped more than 35,000 small businesses acquire over $7 billion in funding through the Paycheck Protection Program.

Which districts did M&T Bank rank as a top lender?

M&T Bank was the number one lender in districts such as Baltimore and Buffalo, among others.

What types of loans does M&T Bank provide for small businesses?

M&T Bank offers a wide range of credit solutions including conventional loans and SBA loans.