M&T tops Delaware list in SBA 7 (a) loan category

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M&T Bank  ranked seventh in the nation for total loans during the Small Business Administration’s (SBA) fiscal year. The company ranked first in Delaware.

M&T Bank extended 1,403 SBA 7(a) loans to small business owners for a total of $172.6 million over the course of the year. The figure was up 12.4 percent jump in loans made from 2017 levels.

M&T Bank has been a top 10 SBA lender for a decade, reflecting a longstanding commitment.

M&T Bank also continued its long-held position as a top-ranking SBA lender in many of its markets including:

  • Delaware SBA District – Number one lender based on total number of loans, with 58 loans totaling $8.6 million.
  • Baltimore SBA District – Number one lender with 340 loans for $39 million, increasing its total loans from 2017 by 36.5 percent. M&T issued more than 49 percent of the total number of loans in the district.
  • Philadelphia SBA District – Second leading lender ranked by total number of loans, with 196 loans for $18.5 million.

“Our consistent top ten ranking reflects our unwavering support of small business owners as they look to grow and prosper in their local communities,” said Eric Feldstein, senior vice president for business banking at M&T. “We are proud to partner with the SBA to offer a range of lending solutions that help small businesses, which are the drivers of job creation and economic growth in this country.”

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M&T Bank has been one of the top 10 most active SBA 7(a) lenders in the U.S. over the past 10 years, and during that time the company has increased its SBA 7(a) lending 103 percent in loans and 137 percent in dollar volume.

The 7(a) loan is one of the SBA’s most flexible loan programs, designed to finance existing small businesses and startups that are unable to secure business loans through traditional lending channels.

Since 1989, M&T Bank has provided more than $3.5 billion in SBA-guaranteed financing to thousands of small businesses. The loans often go to businesses that cannot find other types of financing. 

For more information on M&T’s small business products and services,  visit www.mtb.com/business

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