Friday January 11, 2008

SBA Names Syracuse Region's Most Active Lenders

M&T is the most active SBA lender
By Press Release

    Bernard J. Paprocki, U.S. Small Business Administration Syracuse district director announced the most active lenders in the Central New York area for the recently ended fiscal year 2007.  
    M&T Bank topped all large banks with an asset size of over $10 billion in the 34-county Syracuse District. This year M&T assisted small businesses with 123 SBA guaranteed loans valued at $12,567,800. In addition, M&T repeated as the top SBA lender in Central New York providing local small businesses with over $5.5 million dollars in business loans.
    In the category of banks with an asset size from $1 billion to $10 billion, Alliance Bank repeated as the top lender in Central New York, with 19 SBA guaranteed loans at a value of $1,034,300
    With a strong commitment to lending in the North Country, Watertown Savings Bank made 11 loans valued at $1,243,418 making them the leader for banks with an asset size of less than $1 Billion. Watertown Savings Bank has achieved top lender status in this category for five of the past six years.
    SBA awarded the inaugural Patriot Lender of the Year award to M&T Bank for their steadfast support of the military business community in upstate New York. M&T made 10 loans to Veteran small business owners, totaling $1,730,800.
    “SBA and our lending partners help small businesses throughout upstate New York get the capital to start and grow their businesses, enhance their communities and create jobs,” said SBA Syracuse district director, Bernard J. Paprocki.  “Strong relationships with our lending partners are essential in providing small business owners with the increased access to capital that they need.”
    Although SBA does not make direct loans to small businesses, the agency’s use of its guaranty authority enables commercial lenders and Certified Development Companies to make loans to small businesses they otherwise would not have made.
    In fiscal year 2007, which ended September 30, 2007, SBA’s Syracuse District experienced the third largest lending year on record. Small businesses in the 34-county district of upstate New York received a total of 956 SBA loans for $157,048,187. Lenders in the 13 counties that make up the Central/Northern New York area (Cayuga, Franklin, Fulton, Hamilton, Herkimer, Jefferson, Lewis, Madison, Montgomery, Oneida, Onondaga, Oswego and St. Lawrence) combined for 384 SBA loans valued at $56,113,718 or just over 40 percent of the district’s lending activity.

Oswego County Business Magazine
Issue 164

Issue 164
October/November 2019

Cover Story

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