M&T Bank concluded the U.S. Small Business Administration's (SBA) 2024 fiscal year as the 10th-largest lender in the country, marking its 16th consecutive year among the nation's top 10 SBA lenders. The bank approved 1,832 7(a) program SBA loans totaling $207.8 million in fiscal year 2024, which ended September 30, 2024.
The average size of M&T Bank's SBA loans in 2024 was $113,432, indicating its focus on providing essential capital to a wide range of small businesses. The bank also saw significant growth in its New England markets, with SBA loan values increasing by 58% and the number of loans nearly doubling in Massachusetts and Vermont.
In addition to its 7(a) program performance, M&T Bank was ranked #6 nationally as a third-party lender for 66 504 program loans, totaling $57.96 million. This consistent performance underscores M&T's commitment to supporting small businesses and fostering economic growth across its 12-state footprint.
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