For the 16th year in a row, M&T Bank has ranked among the country’s top 10 Small Business Administration (SBA) lenders.
The bank approved 1,832 applications this year under the SBA 7(a) loan program, with the average loan being $113,432. M&T closed out SBA’s 2024 fiscal year — which ending Sept. 30 — as the 10th-largest lender in the country.
“With our average loan size of $113,432, we continue to be able to provide all sizes of companies with their essential capital needs,” Chris Nichols, M&T Bank Executive Vice President and Director of Business Banking Sales, said in a statement.
“We are grateful for the trust to provide advice and guidance for the small business communities throughout our footprint,” Nichols added.
M&T is located in 12 states, with 92 locations in New Jersey. SBA loan growth in the New England region increased 58%, and the number of loans nearly doubled in Massachusetts and Vermont, the bank said.
M&T Continues to Rank Highly Within the Communities It Serves
Once again, M&T’s strong SBA performance nationally was reinforced by the bank’s commitment to supporting small businesses in communities throughout its 12-state footprint. The bank was the leading small-business lender in several markets and ranked highly in many others, including the SBA Districts of:
- Baltimore: #1 lender with 344 loans for $40.1 million
- Buffalo/Rochester: #1 lender with 186 loans for $18.9 million
- Connecticut: #1 lender with 168 loans for $19 million
- Delaware: #1 lender with 64 loans for $6.4 million
- Syracuse: #1 lender with 113 loans for $13.1 million
- Washington, D.C.: #1 lender with 164 loans for $24.7 million
- New Jersey: #2 lender with 157 loans for $18.1 million
- New York City: #6 lender with 199 loans for $18.3 million
- Philadelphia: #2 lender with 203 loans for $21.4 million
- Richmond, VA.: #2 lender with 56 loans for $5.9 million
“We are proud to be able to leverage our relationship with the SBA to serve 1,832 small businesses this past year. We are inspired by the stories of how this capital has helped support the growth of the small businesses and, in turn, the communities across our footprint,” Nichols said.
M&T Bank also ranked 6th nationwide as a third-party lender under the 504 loan program. The bank approved 66 loans totaling $57.96 million.
“We are grateful for all the colleagues across the Bank that make these results possible. We are a purpose driven organization, and our teams come to work every day to make a positive impact in the communities across our footprint. Our partnership with the SBA plays a big role in our ability to execute,” Nichols said.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T’s Wilmington Trust-affiliated companies and by M&T Bank. Learn more about M&T Bank’s lending for small businesses here.