M&T Bank still rules locally on providing small-business loans
Five Star Bank came in second place
M&T Bank Corp. continues to dominate the small-business lending field locally, making 183 Small Business Administration loans for $18.5 million in the Buffalo and Rochester markets since October.
The Buffalo-based banking company, traditionally the leader in SBA-guaranteed loans in the Western New York region, had more than twice the number and dollar amount of loans of any competitor as of May 2008, according to the monthly tally by the SBA’s Buffalo District Office. The agency’s fiscal year runs from Oct. 1 through Sept. 30.
Coming in second in number of loans was Five Star Bank of Warsaw, with 78, followed closely by First Niagara Financial Group of Lockport, with 75. Citizens Bank of Providence,
R. I., a subsidiary of Royal Bank of Scotland Group Plc, was No. 4 with 55 loans for $1.26 million, followed by HSBC Bank USA with 47 loans for $3.99 million.
In dollars, First Niagara was second at $8.8 million, followed by the New York Business Development Corp., at $4.36 million. HSBC was fourth in dollars, followed by Key- Bank at $3.67 million and Five Star with $3.66 million.
In all, 34 lenders made 600 loans for $58.65 million in the two markets.
In Buffalo alone, lenders made 325 loans for $29.3 million. Specifically, M&T led the pack with 91 loans for $8.2 million, followed in both categories by First Niagara, with 48 loans for $5.6 million. Citizens was third in number, with 42, followed by HSBC at 37 and Five Star at 32. However, HSBC was third in dollars, with $2.8 million.
