M&T again ranks first in number of Delaware Small Business Administration loans

0

M&T Bank again ranked No. 1 in Delaware in the total Small Business Association-backed loans.

In its overall footprint, M&T Bank extended 1,449 loans for a total of $178.8 million, which is up from 1,403 SBA loans for $172.6 million in 2018. M&T Bank has been one of the top 10 most active SBA 7(a) lenders in the U.S. for the past 11 years.

“Our support of small business owners is unwavering, and our consistent top ten ranking demonstrates that commitment,” said Eric Feldstein, head of business banking at M&T Bank. “We’ve long been a proud partner with the SBA to offer a range of lending solutions to help small businesses grow and prosper in their local communities.”

The number of SBA-backed loans, rather than the total loan value is significant since proceeds go to smaller enterprises.

The SBA sometimes takes heat for lending to larger enterprises.

In Delaware SBA District, M&T issued 50 loans totaling $4.4 million.

In the Philadelphia SBA District, M&T had 184 loans for $24.7 million.

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

Facebook Comments
SHARE
Previous articlePopeyes bringing back chicken sandwich on Sunday
Posts labeled Special to Delaware Business Now are typically submitted items that are updated and sometimes rewritten in news style. Background information is sometimes added.