M&T Bank and KeyBank were among the most active lenders in the country in the Small Business Administration's 7(a) loan program, which provides federal guarantees for small business loans, during the 2017 fiscal year.
Key ranked No. 9 in volume, at $318 million, up 43 percent from the year before, the SBA reported. M&T ranked No. 8 in the number of approved loans, with 1,248. The fiscal year ended Sept. 30.
Key said it was No. 1 in loan volume in the SBA's Syracuse and Seattle districts. In the Buffalo-Rochester market, Key was No. 3. M&T led in both loans and volume in the Buffalo-Rochester market.