BANK LEADS SMALL-BUSINESS LENDING 2023 IN CONNECTICUT 2023

This is the first year M&T has finished as the No. 1 SBA lender in Connecticut – an important milestone for the bank following its 2022 acquisition of Bridgeport, Connecticut-based People’s United Bank. In fiscal year 2023, M&T approved 126 SBA 7(a) loans in Connecticut – more than a 40% increase in the number of loans the bank approved in the state last year. Buffalo-based M&T Bank approved more U.S. Small Business Administration (SBA) loans in the past year than ever before and finished the SBA’s 2023 fiscal year as the sixth-largest lender in the country. This marked the 15th consecutive year M&T has ranked among the nation’s top 10 SBA lenders. M&T approved 1,822 SBA 7(a) loans for a total of $224.2 million in fiscal 2023, which ended Sept. 30. That represents a 26.5% increase in SBA loans the bank approved in 2022 and a nearly $21 million increase over last year. This year’s loan volume also eclipsed the previous high mark of 1,739 SBA loans M&T approved in 2016. The average size of one of the bank’s SBA loans in 2023 was $123,076 – about $18,500 lower than M&T’s average loan size in 2022.
M&T’s strong SBA performance nationally was reinforced by the bank’s commitment to supporting small businesses in communities throughout its 12-state footprint. In addition to Connecticut, the bank was the leading small-business lender in several markets and ranked highly in many others, including the SBA Districts of:

Baltimore: No.1 lender with 284 loans for $30.3 million;
Buffalo/Rochester: No.1 lender with 184 loans for $32.8 million;
Delaware: No.1 lender with 49 loans for $9.7 million;
Syracuse: No.1 lender with 96 loans for $16.2 million;
Washington, D.C.: No. 1 lender with 160 loans for $24.6 million;
New Jersey: No. 2 lender with 179 loans for $17.3 million;
New York City: No. 2 lender with 447 loans for $41.8 million;
Philadelphia: No.2 lender with 158 loans for $18.3 million; and,
Richmond, Virginia.: No. 3 lender with 41 loans for $3.4 million.

“Throughout our communities, M&T bankers helped small-business owners acquire the capital they needed to grow and thrive by approving more SBA loans than we’ve ever approved,” said Christina Brozyna, M&T’s head of business banking sales and operations. “It was a remarkable effort that reaffirms M&T’s commitment to being a catalyst for the small businesses at the heart of the communities we serve.”