M&T Bank SBA loans in New York City: sizes, rates and boroughs

By Solomon Wiesen, editor. Updated October 2026. Editorial standards | How this site is funded

Half of M&T Bank’s New York City SBA loans went to Brooklyn. In our analysis of SBA loan data, M&T approved 565 SBA 7(a) loans in the five boroughs from October 2019 through June 2026, third among NYC SBA lenders with 7.4% of city loans, and 283 of them were in Brooklyn. Its median loan was $100,000, and loans approved since October 2023 started at a median rate of 11.24%. For a borrower, M&T’s NYC record is mostly SBA Express loans and lines between $50,000 and $150,000, made at a pace that has swung sharply from year to year.

Brooklyn first

The industry mix is spread out: retail (96 loans), professional services (92), construction (89), wholesale (57) and restaurants, bars and hotels (52). Most borrowers (80.0%) had been in business more than two years, 11.2% were two years old or younger, and 8.0% were startups using the loan to open.

The fiscal 2024 drop

M&T’s five-borough count fell from 134 loans in fiscal 2023 to 31 in fiscal 2024, then recovered to 85. M&T’s own announcements show the same direction with larger numbers; the releases do not define the area they call New York City, while our count includes only five-borough addresses. In its fiscal 2023 release, M&T reported being the No. 2 SBA lender in New York City with 447 loans totaling $41.8 million. Its fiscal 2024 release listed it as No. 6 in New York City with 199 loans and $18.3 million. Neither release explains the change. Bank-wide, M&T made 1,832 7(a) loans in fiscal 2024 and 2,701 in fiscal 2025, a 47.4% rise in units, according to its fiscal 2025 release.

Because of that dip, only 174 of M&T’s 565 NYC loans fall in the recent window (October 2023 onward), so its recent rate figures rest on fewer loans than its totals.

Sizes, products and starting rates

M&T approved 95.0% of its NYC SBA loans through SBA Express, and 94.7% carry variable rates. Lines of credit account for 54.5%, so close to half are Express term loans. The size mix:

The two largest groups are too small to say much. Across all sizes, the middle half of recent loans started between 10.0% and 12.875%. During that window the prime rate moved between 8.50% and 6.75%, per the Federal Reserve’s prime rate series; it was 7.00% in early October 2026.

M&T’s published SBA products

M&T’s small business loans page lists four SBA products:

• SBA 7(a), up to $5 million, for working capital, equipment, renovations, acquisitions or owner-occupied real estate.
• SBA 504, long-term fixed-rate financing for owner-occupied real estate and heavy equipment.
• SBA Express, up to $500,000, described as being for smaller needs with faster decisions.
• SBA MARC, up to $5 million in working capital for manufacturers (NAICS 31 to 33), as a term loan or revolving line with maturities up to 20 years.

The page publishes no rates, collateral rules or document list. It says loans may carry commitment and prepayment fees and that the borrower pays any appraisal, environmental, title insurance and bank attorney fees. It does not say if you need an M&T account; its contact form only asks if you are a current customer. To start, you book an appointment or call 1-800-724-6070, and a banker contacts you within two business days.

One gap is worth knowing about. More than half of M&T’s NYC SBA loans are lines, but its lines of credit page describes only conventional lines, and its Business Access Line ($5,000 to $950,000) excludes credit that requires an SBA guaranty. If you want an SBA Express line from M&T, ask the banker for it by name.

For the SBA side, the SBA’s 7(a) loan types page sets SBA Express at up to $500,000 with a 50% guarantee and revolving maturities up to 10 years, with no collateral required at $50,000 or less. Other 7(a) loans go to $5 million, with 7(a) small loans capped at $350,000 and guaranteed at 85% up to $150,000 and 75% above, per the SBA’s terms and conditions.

Applying

Expect the lender to collect SBA Form 1919, the borrower information form, now in its March 19, 2025 version, and a personal financial statement such as SBA Form 413. Because M&T does not post a document list, ask the banker on the first call which tax returns and financial statements it needs for your loan size.

Who it fits

The data fits a Brooklyn business, established or new, looking for $50,000 to $150,000 through SBA Express, as a line or a term loan. M&T’s 8.0% startup share means a business that has not opened yet is not automatically outside its NYC lending. Manufacturers have the MARC product on top.

The fit is thinner above $350,000, where M&T made 20 NYC loans in the whole period. Owners needing more can compare lenders in the SBA lender finder, and businesses a bank declines can check the 19 lenders in our NYC small business loans table.

Next to a merchant cash advance

M&T’s recent median of 11.24% compares with about 71% APR for a $50,000 merchant cash advance at a 1.40 factor rate repaid by business-day debits over twelve months; 95% over nine months; 142% over six. If you’re weighing an advance against an SBA application, the SBA loan versus MCA comparison shows the gap in dollars.

M&T Bank does not endorse this page; the loan counts and rates come from our count of the SBA’s public 7(a) loan file, with cancelled loans excluded.