KeyBank ranks in top 15 nationally for both SBA 7(a) and SBA 504 lending programs for SBA 2023 fiscal year for unit
volumes
(CLEVELAND) October 16, 2023 – Today, KeyBank (NYSE: KEY) announced it ranked
among the top 15 lenders in the country for unit volumes for the Small Business
Administration (SBA) 2023 Fiscal Year for both the SBA 7(a) and SBA 504 lending
programs. During SBA’s FY 2023, KeyBank extended 918 loans for a total of $229
million under the flagship 7(a) program and an additional 52 small business loans worth
more than $58 million utilizing the SBA’s 504 program. The unit volume secured
KeyBank the 14th position out of over 1,500 participating lenders for 7(a) lending and the
12th spot for 504 lending nationally
- The SBA 7(a) program is the SBA’s primary business loan program providing
financial assistance to small businesses and can be used by eligible businesses
for, among other items: short- and long-term working capital, refinancing current
business debt and acquiring, refinancing or improving real estate and buildings.1 - The 504 Loan Program provides long-term, fixed rate financing for major fixed
assets that promote business growth and job creation and can be used by
eligible businesses for, among other items: existing buildings (or their
improvement), land, new facilities, and long-term machinery and equipment.2
“I am very proud of our team’s performance this year. While the economic environment
has brought headwinds to our clients, we take great pride in being a consistent
presence in the small business community and standing by our clients’ sides to help
them move forward financially,” said Jim Fliss, National Manager of KeyBank’s SBA
Program. “Our utilization of both programs is a testament to how we understand our
clients’ needs and work proactively to find the best solutions for their business.”
KeyBank has been a top-performing SBA Preferred Lender for over two decades,
helping numerous small businesses obtain access to capital through the SBA lending
programs. Since 2015, KeyBank has provided more than $2.6 billion in SBA-guaranteed
financing to thousands of small business owners with more than $1.29 billion of that
funding occurring in the last four years. In addition, during SBA’s FY 2023, Key
recognized over 14% growth in the number of 7(a) units year over year.
You can read some client stories about how KeyBank helped small businesses with
SBA loans and other steps on their road to thrive here.
“Getting capital into the hands of more small businesses remains a top priority for Key.
These small businesses are the backbone of our economy and the communities we so
proudly serve here at KeyBank, and they have shown such resiliency in recent years.
We are committed to helping more small businesses take advantage of the benefits the
SBA lending programs we have to offer,” said Fliss.
In addition to the national result for the SBA’s FY 2023, with respect to SBA 7(a) unit
volume, KeyBank:
- Earned a number one ranking, ahead of all other lenders, in the SBA district of
Seattle; - Ranked in the top 3 in the SBA districts of Buffalo, Cleveland, Syracuse, and
Portland; and - Ranked in the top 5 in the SBA districts of Alaska, Colorado, Columbus,
Connecticut, Indiana, Maine and Pittsburgh.
For SBA 7(a) dollars loaned for the SBA FY 2023, KeyBank earned a top 3 ranking in
the SBA districts of Cleveland, Buffalo and Seattle.
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.
ABOUT KEYBANK
KeyBank’s roots trace back nearly 200 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 $195 billion at June 30, 2023. 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 1,000 branches and approximately 1,300 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.
