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M&T leads small business lending program

M&T Bank continues to lead in both loans and dollar volume in a key federally backed loan program in the Buffalo-Rochester market as of the end of July.

Through the first 10 months of the federal fiscal year, M&T accounted for 193 of the 7(a) loans, or 26 percent of the region's total, according to the U.S. Small Business Administration. Its total loan volume was $23.1 million.

Among all participating lenders in the Buffalo-Rochester region, total 7(a) loans dropped 20.3 percent from a year ago, to 739. But the combined volume of $125.2 million was down only 1.3 percent from the same period in 2016, indicating the loans are for larger average amounts.

ESL Federal Credit Union, based in Rochester, ranked second in 7(a) loans, with 100. Five Star Bank was second in 7(a) loan volume, with about $13 million.

 

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