M&T Bank’s small business lending gets top marks in its communities, including Baltimore, Buffalo/Rochester, Connecticut, Delaware, New Jersey, New York City, philadelphia cream, richmond, Syracuse and washington d.c.
BUFFALO, NY, October 13, 2022 /PRNewswire/ — M&T Bank (NYSE: MTB) announced today that it has been named the nation’s sixth largest Small Business Administration (SBA) lender, extending its 14-year streak of top 10 rankings in the United States in In SBA’s 2022 fiscal year, M&T issued 1,440 7(a) loans for a total of $203.8 million to help local small businesses pursue their plans for expansion and prosperity. M&T climbed to sixth position nationally for total lending volume, despite only operating in 12 eastern US states
The impact of M&T’s consistently strong SBA performance nationwide is felt in the local communities it serves. The bank was the leader small business lender in several markets and well ranked in many others, including the SBA districts of:
- Baltimore: #1 lender with 250 loans for $36.69 million
- Buffalo/Rochester: #1 lender with 167 loans for $34.38 million
- Connecticut: #2 lender with 75 loans for $9.70 million
- Delaware: #1 lender with 52 loans for $7.12 million
- New Jersey: #2 lender with 131 loans for $13.38 million
- New York City: #2 lender with 308 loans for $32.76 million
- philadelphia cream: #2 lender with 134 loans for $22.82 million
- richmond: #1 lender (tied) with 39 loans for $4.41 million
- Syracuse: #1 lender with 82 loans for $8.56 million
- washington d.c.: #1 lender with 152 loans for $23.81 million
“While we are proud of our long-standing ranking as one of the nation’s top SBA lenders, what matters most to us is meeting the local needs of small businesses in the communities we serve. is about making a difference in people’s lives, helping business owners access funding so they can grow, hire more people and lift our communities,” said Christina BrozynaHead of Sales and Corporate Banking.
Helping small local businesses grow
Behind each of M&T’s SBA loans is the story of an entrepreneur determined to build a business that helps customers, creates jobs and strengthens their neighborhood.
Recently, M&T helped Dr. Uzo Ihenko and his son Kelechi Chillis-Ihenko access SBA loans to accelerate their vision for the Broadway Business Hub, starting with the opening of their UPS store which will provide a range of business services in Eastern Buffalo. It’s a component of a major redevelopment project they’re pursuing on Broadway between Michigan and Jefferson Avenues.
“Through our experience with M&T Bank, we have seen how much they care about people and help local businesses grow,” said Dr Uzo Ihenko. “The launch of our UPS Store will be a catalyst for our multifaceted project which will transform into a coworking space and new apartments. We are excited about the potential of our project to strengthen the Eastern Buffalo community and create opportunity for historically underrepresented entrepreneurs – and now thanks to M&T, we have the small business funding we needed to fuel our momentum.
In Connecticut, Spectrum machine and designan advanced manufacturing and precision machining company, worked with M&T to secure SBA financing for new equipment that enabled the company to take on more work from a major FORTUNE 500 company. Founded in the garage of Connie and Gary Poesnecker in 1999, Spectrum Machine, which specializes in the aerospace and defense industries, has grown significantly over the years and now occupies a 17,000 square foot facility in Windsor Locks.
“Securing SBA loans through M&T Bank helped us unlock new growth opportunities for our business. Their team invested time and energy in building a relationship with us – and most importantly, they brought in existing knowledge manufacturers’ needs,” said Gary Poesnecker. “The manufacturing industry is constantly faced with difficult problems, but with reliable partners like M&T, we are able to seek creative solutions and focus on what we do best: leveraging our CNC machining skills to produce complex parts and tools for our customers.”
M&T’s deep commitment to local businesses in new markets
Since its founding over 165 years ago, M&T has focused on meeting the financing needs of local businesses to ensure they have the capital to adopt new equipment and technologies, expand their operations and grow their workforce. The bank is now bringing its longstanding commitment to small business to new communities where it recently expanded in New England.
M&T presents itself in new and different ways for small businesses to provide additional support and new programs that allow them to reach new customers, optimize operations and access advice and expertise.
- In August, M&T brought its innovation Shop for Connecticutoffering local small businesses the opportunity to market their products from a pop-up space in from Bridgeport popular seaport of Captain’s Cove.
- M&T recently launched its Multicultural Innovation Lab for Small Businesses Bridgeport, Connecticut, which helps local multicultural business owners access advice and deepen their skills to grow and strengthen their business. M&T partners with University of Bridgeport Innovation Center to lead the seven-week program and will fund grants of up to $6,000 which will be awarded during the Innovation Lab pitch competition.
“We provide local businesses with the strong capabilities of a large regional bank, but we serve our customers through our longstanding community banking operating model – which is defined by a deep understanding of our communities, a community that cares deeply about the people they care about banking services and solutions designed for the unique needs of local economies,” Brozyna added.
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states in the eastern United States, from Maine at Virginia and washington d.c. Trust-related services are provided in certain markets in the United States and abroad by affiliates of M&T’s Wilmington Trust and M&T Bank. For more information about M&T Bank, visit www.mtb.com.
National media, trade publications and Buffalo, NY media:
Upstate New York (excluding Buffalo):
New York Subway (New York, Long Island and New Jersey):
Mid-Atlantic (Delaware, Maryland, Pennsylvania, Virginia and Washington, DC):
New England (Connecticut, Maine, Massachusetts, New Hampshire and Vermont):
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SOURCE M&T Bank