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SBA Names Top CNY Lenders for Fiscal Year 2012
SYRACUSE, N.Y. - U.S. Small Business Administration 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 2012. M&T Bank, NBT Bank, Adirondack Bank and Solvay Bank had the highest number of 7(a) approvals in their respective categories.
For the seventh 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 74 loans at a value of $7.8 million and district-wide with 166 loans totaling $17.6 million. M&T Bank is also the most active Third Party Lender in the Syracuse District’s 504 program with 12 loans valued at $28.5 million, representing an increase in number (140%) and in dollar amount (300%) from 2011.
NBT Bank was the most active large community lender in Central New York and the Syracuse District. NBT Bank approved 20 loans to Central New York businesses valued at $2.3 million. NBT Bank made 70 loans district-wide worth $10 million to startup and existing businesses.
Adirondack Bank tied Solvay Bank as the top small community lenders in Central New York with 13 loan approvals each. Adirondack Bank approved $1.1 million in loans while Solvay Bank’s approvals were valued at $1.4 million.
“Strong relationships with our lending partners are essential in providing small business owners with increased access to the capital. With continued partnership, Central New York entrepreneurs can continue to invest in their businesses and communities,” praised SBA Syracuse District Director Bernard J. Paprocki.
In fiscal year 2012, which ended September 30th, SBA lenders in the 34-county Syracuse District provided 682 7(a) and 504 loan approvals valued at $168 million in needed capital. 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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