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SBA lending program dips in number, loans

Small business lending through a key federally backed program in the region was down nearly 16 percent through the first seven months of the fiscal year, compared to a year ago.

The Small Business Administration's Buffalo district office reported 516 7(a) loans through April, compared to 611 a year ago. The total volume of those loans was $77.7 million, down 3.5 percent from a year earlier.

M&T continued to lead all participating lenders, with 136 loans worth a combined $13.9 million over the seven-month span. Five Star Bank was second, with 74 loans for a combined $8.7 million.

 

 

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