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SBA Names Top CNY Lenders for Fiscal Year 2013

Release Date: 
Tuesday, October 29, 2013
Release Number: 
14-01
Advisory Date: 
Thursday, November 7, 2013
Contact: 
Rachael Stanton 315-471-9393 ext. 244

SYRACUSE, N.Y. - SBA Syracuse District Director Bernard J. Paprocki today announced the most active lenders in the Central New York region for the recently ended federal fiscal year 2013. M&T Bank, NBT Bank, and Adirondack Bank had the highest number of 7(a) approvals in their respective categories based on asset size.

For the eighth year in a row, M&T Bank topped all large commercial banks in the Central New York region and the entire 34-county Syracuse District. This year M&T Bank assisted small businesses in Central New York with 70 loans at a value of $7.6 million and district-wide with 150 loans totaling $17.1 million. M&T Bank is also the most active Third Party Lender in the Syracuse District’s 504 program with 14 loans valued at $26.4 million.

NBT Bank was the most active large community lender in Central New York and the Syracuse District for the third year in a row. NBT Bank approved 20 loans to Central New York businesses valued at $2.9 million and 50 loans district-wide worth $5.8 million.

Adirondack Bank was the top small community lender in Central New York with 10 loan approvals valued at $6.2 million.

“Strong relationships with our lending partners are essential in providing small business owners with much needed access to capital. With continued partnership, Central New York entrepreneurs can continue to create jobs and invest in their businesses and communities,” praised SBA Syracuse District Director Bernard J. Paprocki.

In fiscal year 2013, which ended September 30th, SBA lenders in the 34-county Syracuse District provided 589 7(a) and 504 loan approvals valued at $128 million. Although SBA does not make direct loans to small business, the agency’s use of its guaranty authority enables commercial lenders to make loans to small businesses they would otherwise not have made. The SBA Central New York region covers the following counties: Cayuga, Franklin, Fulton, Hamilton, Herkimer, Jefferson, Lewis, Madison, Montgomery, Oneida, Onondaga, Oswego, and St. Lawrence.

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