M&T Bank says the U.S. Small Business Administration named it the number one lender to small businesses in the Philadelphia region this year.
M&T, which has local branch banks in West Chester and Havertown, said it wrote 184 loans totaling $23.5 million in its greater Philadelphia district.
“Lending to small businesses contributes to the economic growth of our communities by helping entrepreneurs start and grow businesses,” said Janet Coletti, senior vice president for business banking at M&T. “These loans also create thousands of jobs and spur additional economic activity when those employees bring home paychecks.”
M&T increased its total number of SBA 7(a) loans to small businesses by nearly by 6 percent over 2013, and extended 1,226 loans for a total of $165.2 million. The small business loan total grew from 1,156 SBA loans for $162.8 million in 2013.
The bank was founded in 1856 and has more than 700 branch offices and 1,500 ATMs in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and Washington D.C.
Links: www.mtb.com/business
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