CLEVELAND, October 7, 2021
CLEVELAND, October 7, 2021 / PRNewswire / – KeyBank today announced that it has granted 947 loans for a total of $ 434 million in the SBA’s 2021 fiscal year, more than doubling its number of individual small business unit loan approvals from 2020. The volume secured KeyBank a top 10 position out of more than 1,700 lenders participants and represented a record loan volume for Key in terms of both units and dollars.
This funding is outside of KeyBank’s efforts through the Paycheck Protection Program (PPP), which organized its third round of funding in 2021. Through the PPP, KeyBank processed approximately 70,000 SBA-approved loans, totaling $ 11 billion in essential business financing. Since 2015, KeyBank has provided more than $ 2 billion in SBA-guaranteed financing to thousands of small business owners and has consistently been ranked among the nation’s top SBA lenders.
âThis year marks a monumental achievement for our team. Our strategic direction and partnership with clients as well as the SBA play an important role in the economic rebound of many small businesses and communities, âsaid Jim fliss, National SBA Director of KeyBank. For our team, the mission is to help the communities we serve thrive by providing capital to more individual businesses that operate there. Our growth and rankings this year are proof that we are delivering on that commitment, signaling small business owners that they can count on us. ”
âComplementing our cutting-edge SBA offerings, we pride ourselves on being a true relationship bank that provides holistic financial solutions including treasury, commerce and wealth management services for the business, entrepreneur and their families. employees. ” noted Kip Clarke, Head of KeyBank Business Banking.
The SBA measures the performance of lenders based on the number of units and absolute dollars loaned under Flagship 7 (a). KeyBank ranked number one in SBA dollar volume, ahead of all other lenders, in SBA districts of Syracuse and Seattle; ranked in the top 3 in Portland, Columbus, Cleveland and Buffalo. For units, KeyBank achieved a top 3 ranking in the districts of Cleveland, Buffalo, Seattle, Syracuse, Portland, and Maine. The bank increased lending to individual small businesses by more than 100% in 2021 compared to 2020 in Syracuse, Buffalo, Columbus, Connecticut, Pittsburgh, new York, Philadelphia cream, Utah, Wooded, and Massachusetts.
âKeyBank continues to invest heavily in all areas of our national SBA lending platform, from loan creation to closing, to ensure that business owners can effectively access the capital they need while receiving the highest level of service from our staff specializing in SBA loans, âsaid Fliss. âThis includes a significant investment in digital technology used by our stakeholders to ensure that we deliver ease, value and expertise to small business clients across the country. We remain optimistic about the future and will continue to support the small businesses that are the backbone of our economy, a major engine of GDP and job creation.
KeyCorp’s (NYSE: KEY) roots go back almost 200 years to Albany, New York. Based at Cleveland, Ohio, Key is one of the largest banking financial services companies in the country, with assets of approximately $ 181.1 billion To June 30th, 2021.
Key provides deposit, loan, cash management and investing services to individuals and businesses in 15 states under the KeyBank National Association name through a network of more than 1,000 branches and approximately 1,300 ATMs. Key also offers a wide range of sophisticated investment and corporate banking products, such as M&A advisory, public and private debt and equity, syndications and derivatives to mid-market firms. in selected sectors across United States under the trade name KeyBanc Capital Markets. For more information visit https://www.key.com/. KeyBank is a member of the FDIC. Â© 2021. KeyCorp. CFMA # 211001-1277778
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