M&T Bank Corp. increased its lending to small businesses by $196 million in fiscal 2012, nearly quadrupling last year’s pledge to boost loans by $50 million, representatives announced Tuesday.
The bank made 9,665 small-business loans totaling some $1.2 billion, up 19 percent from a year earlier.
“Small businesses are vitally important to the creation of new jobs and economic recovery,” Chairman and CEO Robert Wilmers said in a statement. “By partnering with small business today, we move more confidently toward economic success tomorrow.”
Wilmers told Vice President Joseph Biden at a small-business lender forum last September that M&T would increase lending totals by $50 million in each of the next three years.
“While we’ve exceeded our goal to lend to small businesses this year,” Wilmers said, “our commitment is unwavering, and we will continue to seek out partnerships with businesses that will help drive the economy forward.”
M&T is the sixth-largest Small Business Administration lender in the country and the annual leader in the Rochester market.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.
eMail
View All Comments
Print
Reprints
