BUFFALO, N.Y., Oct. 14, 2020 /PRNewsCentre/ — 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:
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.
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.
New York (excluding NYC):
New Jersey, Connecticut and New York City:
Delaware, Maryland, Pennsylvania, Virginia and Washington, DC:
© 2020 M&T Bank. Member FDIC. Equal Housing Lender.
SOURCE: M&T Bank