M&T signs the most SBA loans
M&T Bank ranked first in number of loans in the SBA’s Delaware office, with 58 loans totaling $7.9 million – and increase of more than 39.2 percent in total loan volume over the last fiscal year.
M&T, a long-time supporter of Small Business Administration loan programs, ended the 2015 federal fiscal year on September 30 with 1,273 loans across several statesthrough the SBA’s widely used 7(a) loan program, for a total of $166.5 million.
That is a 3.8 percent increase in loan volume and a 0.7 percent increase in dollar volume over the prior fiscal year period.
The 7(a) program is the SBA’s largest loan guarantee program, helping start-up and existing small businesses with operating capital for a variety of general business purposes.