Submitted by KeyBank
KeyBank (NYSE: KEY) announced it extended 803 loans for a total of $314 million during the SBA's FY 2022. The volume secured KeyBank a top 10 position out of over 1,600 participating lenders. KeyBank has been a top performing SBA Preferred Lender for over two decades, helping countless small businesses obtain access to capital through the SBA lending programs.
"I am very proud of our consistency in supporting thousands of individual businesses through the uncertainty and challenges of the past few years. During turbulent economic times, we take great pride in being there for our clients - listening to their evolving needs and developing comprehensive financial solutions that help both businesses and communities to thrive," said Jim Fliss, National Manager of KeyBank's SBA Program.
Since 2015, KeyBank has provided more than $2 billion in SBA-guaranteed financing to thousands of small business owners with more than $1 billion of that funding in the last three years. Last year, KeyBank doubled in SBA 7(a) loan units and followed up that volume with another top performance this year despite an overall slowdown in the industry.
The KeyBank SBA lending team has seen changes in 2022 with resources shifted towards helping clients in new ways. "We've strategically created new positions to support our teams that help streamline the process towards quicker results. We are laser focused on the client experience. We believe that if we can get small business owners faster access to capital it is going to improve that experience," said Fliss. The KeyBank SBA lending team has made new hires to handle increasing volumes and added additional SBA Relationship Managers to provide specialized expertise for growing companies with more complex transactions.
For dollars, KeyBank earned a top 5 ranking in SBA districts of Cleveland, Buffalo, Seattle, Portland, Syracuse, Columbus and Pittsburgh. For units, KeyBank earned a top 5 ranking in the districts of Cleveland, Buffalo, Seattle, Portland, Syracuse, Columbus, Pittsburgh, Colorado, Philadelphia, Maine, Connecticut, and Alaska.
All credit products are subject to collateral and/or credit approval, terms, conditions, availability and are subject to change. SBA loans subject to SBA eligibility.
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
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