M&T Bank continues run as area’s top SBA lender
M&T Bank Corp. is holding its lead as the most active Small Business Administration lender in Western New York, easily outpacing its nearest rivals.
The Buffalo-based bank made 208 small business loans guaranteed by the federal agency in the Buffalo and Rochester markets from Oct. 1, 2007, through June 30, 2008. That’s the first nine months of the government agency’s fiscal year.
Those loans were valued at nearly $21 million — nearly one-third of the $67.24 million in loan volume for all lenders in the two districts during that time period.
That left competitors in the dust. By comparison, No. 2 First Niagara Financial Group of Lockport had made 95 loans for $11.38 million. All the others were even further behind.
Five Star Bank of Warsaw was No. 3 in number of loans, at 92, followed by Citizens Financial Group of Rhode Island at 63 and HSBC Bank USA at 54.
In dollars, the New York Business Development Corp. was third at $4.61 million, followed by KeyCorp at $4.59 million and Five Star at $4.46 million.
In all, 35 lenders made 690 loans in the two districts.
