M&T remains No. 1 among Delaware’s Top Small-Business Lenders
Wilmington — M&T Bank remained Delaware’s top Small Business Administration (SBA) lender in 2020, reflecting the bank’s continued commitment to helping small businesses, particularly during the COVID-19 pandemic.
In Delaware, M&T approved 44 SBA 7(a) loans for $7.5 million in fiscal year 2020, which ended Sept. 30. The bank’s 44 loans were the most approved by any lender throughout the state.
Throughout the bank’s footprint, M&T extended 1,110 loans for a total of $157 million over the course of the year. M&T also topped the SBA lenders list in Washington, D.C., Philadelphia, Baltimore, Buffalo/Rochester, N.Y., and Syracuse, N.Y.
M&T ranked No. 5 nationwide in SBA lending in 2020.
“Our support of small-business owners is unwavering, especially during these challenging times,” said Eleni Monios, M&T’s business banking market manager in Delaware. “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.”
Traditional SBA lending is different than M&T’s participation in the Paycheck Protection Program (PPP). M&T approved almost 2,500 PPP loans in Baltimore for $372.2 million. Those loans supported more than 38,000 jobs in Delaware. Altogether, M&T helped more than 35,000 small businesses across its footprint acquire more than $7 billion in critical funding.
Leave a Comment