M&T, TD and WSFS were the top Small Business Administration lenders in the past fiscal year that ended on Sept. 30
The total dollar figure for the loans in Delaware was $100 million.
M&T continued to be the largest lender in terms of total loans, with nearly 50 loans valued at $9.7 million. SBA officials place greater significance on the number of loans that go to smaller businesses with more diffficulty in gaining lending relationships
M&T has been the top SBA lender in Delaware for 10 straight years.
In its 12-state territory that includes Washington, D.C., M&T approved 1,822 SBA loans for $224.2 million in fiscal 2023, making the superregional bank one of the 10 largest SBA lenders.
“At M&T Bank, our commitment goes beyond being the state’s top SBA lender. We’re dedicated to being a catalyst for small businesses throughout Delaware,” said Mark Hutton, M&T’s regional president for Delaware. “We understand their unique needs and aspirations, and we’re here to provide the funding, resources, and support to fuel their growth. Our goal is to help business owners drive progress, create jobs, and make a lasting mark on their communities.”
SBA loans involve the government agency sharing the risk of default with the private lender.
The entry of M&T into the Delaware market nearly a dozen years ago, thanks to the emergency acquisition of Wilmington Trust, was considered to be a plus for SBA lending in a state where banks were not major participants.
TD Bank came in a solid second on the number of loans with lowest average loan amount at $64,303. TD is listed as a Delaware-based bank, since it lists its assets here. Its U.S. headquarters is in Cherry Hill, NJ.
Among locally based banks, Wilmington-based WSFS had the largest lending total at $12.8 million, but focuses on larger loans, with an average loan amount of more than $900,000.
SBA loans can go to larger businesses, with a New York bank accounting for about 5% of the SBA Delaware total with one $5 million loan.
(See table below for loan data)
SBA lenders ranked by total loan dollar amount
| Lender (State) | Approval Count | Approval Amount | Average Loan Size |
| WSFS FSB (DE) | 14 | $12,794,000 | $913,857 |
| Manufacturers and Traders Trust Company (M&T) (NY) | 49 | $9,743,000 | $198,837 |
| Hanover Community Bank (NY) | 1 | $5,000,000 | $5,000,000 |
| Firstrust Savings Bank (PA) | 2 | $4,800,000 | $2,400,000 |
| Fulton Bank, National Association (PA) | 4 | $4,387,500 | $1,096,875 |
| Grow America Fund, Incorporated (NY) | 6 | $4,295,000 | $715,833 |
| Live Oak Banking Company (NC) | 4 | $4,125,000 | $1,031,250 |
| ConnectOne Bank (NY) | 2 | $2,640,000 | $1,320,000 |
| First Financial Bank (AR) | 3 | $2,160,000 | $720,000 |
| Berkshire Bank (MA) | 4 | $2,152,800 | $538,200 |
| TD Bank, National Association (DE) | 33 | $2,122,000 | $64,303 |
| Dogwood State Bank (NC) | 2 | $1,983,500 | $991,750 |
| United Midwest Savings Bank, National Association (OH) | 5 | $1,950,000 | $390,000 |
| Everwise Credit Union (IN) | 1 | $1,615,000 | $1,615,000 |
| The Huntington National Bank (OH) | 6 | $1,439,700 | $239,950 |
| Celtic Bank Corporation (UT) | 2 | $1,432,000 | $716,000 |
| First National Bank of Pennsylvania (NC) | 2 | $1,421,500 | $710,750 |
| FinWise Bank (UT) | 2 | $1,050,000 | $525,000 |
| BayFirst National Bank (FL) | 6 | $859,800 | $143,300 |
| Newtek Bank, National Association (FL) | 4 | $840,000 | $210,000 |
| PNC Bank, National Association (DE) | 11 | $798,200 | $72,564 |
| Readycap Lending, LLC (NJ) | 3 | $727,500 | $242,500 |
| HomeTrust Bank (NC) | 1 | $720,000 | $720,000 |
| CIBC Bank USA (IL) | 2 | $714,800 | $357,400 |
| Northeast Bank (ME) | 8 | $686,300 | $85,788 |
| Falcon National Bank (MN) | 1 | $500,000 | $500,000 |
| Applied Bank (DE) | 1 | $500,000 | $500,000 |
| Centerstone SBA Lending, Inc. (CA) | 1 | $482,000 | $482,000 |
| Woori America Bank (NY) | 1 | $425,000 | $425,000 |
| Unity Bank (NJ) | 1 | $410,000 | $410,000 |
| JPMorgan Chase Bank, National Association (AZ) | 1 | $400,000 | $400,000 |
| Five Star Bank (CA) | 1 | $350,000 | $350,000 |
| Cadence Bank (MS) | 1 | $350,000 | $350,000 |
| Bank of America, National Association (SC) | 1 | $250,000 | $250,000 |
| Harvest Small Business Finance, LLC (CA) | 1 | $242,700 | $242,700 |
| Connecticut Community Bank, National Association (CT) | 1 | $175,000 | $175,000 |
| Tandem Bank (GA) | 1 | $150,000 | $150,000 |
| Newtek Small Business Finance, Inc. (NY) | 1 | $75,000 | $75,000 |
| True Access Capital (DE) | 1 | $74,000 | $74,000 |
| Wells Fargo Bank, National Association (SD) | 3 | $50,000 | $16,667 |
| The Bank of Delmarva (DE) | 1 | $50,000 | $50,000 |
| Liberty Bank and Trust Company (LA) | 1 | $37,500 | $37,500 |
| KeyBank National Association (OH) | 1 | $30,000 | $30,000 |
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