M&T Bank Ranks Among Nation's Top SBA Lenders, Provides Entrepreneurs with 1,115 SBA Loans to Grow Small Businesses
"Small businesses do more than create jobs and brighten Main Streets; they become part of the identity of our communities – and the entrepreneurs who lead them become sources of inspiration to neighbors who are thinking about starting their own businesses," said
WC McBride Electrical Contractors, based in
"The SBA funding we received through M&T has helped us take important next steps as a business, expanding our capabilities and helping us strengthen our community," said
M&T was the leading small business lender in the SBA Districts of several communities it serves, including:
Baltimore: #1 lender with 227 loans for $45.3 million. Buffalo/ Rochester: #1 lender with 130 loans for $28.5 million. Delaware: #1 lender with 47 loans for $5.8 million. New Jersey: #2 lender with 102 loans for $15.5 million. New York City: #2 lender with 221 loans for $31.2 million. Philadelphia: #1 lender with 129 loans for $25.4 million. Syracuse: #1 lender with 69 loans for $13.9 million. Washington, D.C.: #1 lender with 121 loans for $17.6 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.
To help businesses secure the funds they needed during the pandemic, M&T provided a total of
In its latest Greenwich Crisis Response Index (CRI),
M&T provides customized banking solutions tailored to their business customers' needs, combining its tech capabilities with its relationship-based approach to serving businesses. Beyond its financing and credit offerings like SBA loans and conventional loans, M&T helps small businesses with cash management products, merchant and payment services, mobile and digital banking tools, business checking and credits cards, and more. For more information about M&T's small business services, visit mtb.com/business.
Delaware, Maryland, Pennsylvania, Virginia and Washington, DC:
New Jersey, Connecticut and New York City:
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