This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

M&T Bank Pledges To Increase Lending To Small Businesses By $50 Million For Next Three Years

BUFFALO, N.Y., Sept. 20, 2011 /PRNewswire/ -- At a meeting today in Cleveland, Ohio with Vice President Joe Biden, Small Business Administration (SBA) Administrator Karen Mills and officials from 12 other banks, M&T Bank (NYSE: MTB) reaffirmed its commitment to small business owners, pledging to increase lending by $50 million above 2010 levels for each of the next three years. 

M&T is currently the sixth largest Small Business Administration lender in the nation, the third largest east of the Mississippi, and the number one SBA lender in many of its markets, including Buffalo, Rochester, Syracuse, Philadelphia, Wilmington, Baltimore and Washington, D.C.

M&T's commitment will support the growth of small businesses, including those in the following underserved markets: low-to-moderate income (LMI) communities, empowerment zones and enterprise communities, new business start-ups, minority owned businesses, and micro businesses (annual revenues less than $1 million) in addition to expanding lending to other members of the small business community.

"During times when there have been concerns about the challenges of obtaining credit, our record of prudence and performance has made it possible for M&T to continue to lend to its customers," said Robert G. Wilmers, Chairman and CEO of M&T Bank.  

In 2010, M&T made some 139,000 new loans, totaling $17 billion in value, and representing a five percent increase over the $16 billion in 2009 loan originations.  Some 8,250 of these new loans went to small businesses.

M&T's Banking Built for Business product is a customizable bundle of services that delivers value, convenience and the attention small business owners need, while saving them time and money.

"One of our most important roles is to work with small business owners and entrepreneurs to consistently provide them with both capital and sound advice needed to operate their businesses and create jobs," said Janet Coletti, M&T's senior vice president of business banking. "We view the Small Business Administration (SBA) as a key partner in our effort to provide more capital to business owners."

M&T Bank, founded in 1856, is one of the top 20 independent commercial bank holding companies in the nation, with $77.7 billion in assets and more than 770 branches and 2,000 ATMs in New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia, the District of Columbia and Ontario, Canada. Read more about M&T Bank at www.mtb.com/newsroom.

www.mtb.com

CONTACT: Philip Hosmer 410-916-0790

SOURCE M&T Bank

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs