M&T Bank remained the top lender to the United States Small Business Administration (SBA) of Delaware in 2022.
In Delaware, M&T approved 52 SBA 7(a) loans for $7.12 million in fiscal year 2022, which ended September 30. Throughout the bank’s footprint, M&T approved 1,440 loans totaling $203.8 million during the year. M&T also tops the list of SBA lenders in Baltimore, Md., Washington, DC, Richmond, Virginia, Syracuse, NY and Buffalo/Rochester, NY
M&T ranked No. 6 nationally for SBA loans in 2022, up one spot from No. 7 last year. It’s the 14the consecutive year, the bank has been among the nation’s top 10 SBA lenders.
Businesses in all industries — from construction companies to restaurants — can receive SBA loans, but they’re typically given to businesses that may not qualify for traditional financing because they’re just starting up, operate in industries with high risk or lack sufficient guarantees.
By offering lower monthly payments and longer loan terms to qualifying businesses, SBA loans are often the right solution when businesses need working capital to manage growth or need financing to take advantage of a new opportunity.
More information about M&T’s products and services for small businesses is available at www.mtb.com/business.