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SBA Names Top Capital Region Lenders for Fiscal Year 2013
ALBANY, N.Y. - SBA Syracuse District Director Bernard J. Paprocki today announced the most active lenders in the Capital region for the recently ended federal fiscal year 2013. M&T Bank, First Niagara Bank, NBT Bank and The Adirondack Trust Company had the highest number of 7(a) approvals in their respective categories based on asset size.
M&T Bank tied with First Niagara Bank for the most loan approvals among all large commercial banks in the Capital region with 26 loan approvals each. First Niagara Bank’s approvals were valued at $3.2 million and M&T Bank approvals were worth $2.6 million. M&T Bank is also the most active large commercial bank in the 34-county district with 150 loans totaling $17.1 million.
In the large community lender category, NBT Bank was the most active large community lender in the Capital region and the Syracuse District for the third year in a row. NBT Bank made 14 loans worth $1.3 million to startup and existing businesses in the Albany area. District-wide, NBT Bank approved 50 loans valued at $5.8 million.
For the thirteenth straight year, The Adirondack Trust Company outperformed all other small community lenders in the Capital region and the Syracuse District. The Adirondack Trust Company approved 31 loans worth $1.6 million.
“Strong relationships with our lending partners are essential in providing small business owners with much needed access to the capital. With continued partnership, Capital region 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 Capital region covers the following counties: Albany, Clinton, Columbia, Essex, Greene, Rensselaer, Saratoga, Schenectady, Schoharie, Warren, and Washington.
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