CLEVELAND, Nov. 15, 2016 /PRNewswire/ -- KeyBank today
announced it increased its 2016 7(a) Small Business Administration
(SBA) lending to $222 million during
the SBA's FY 2016, representing a 44 percent jump in loan volume
from 2015 levels. The increase is the largest among the nation's
top 20 SBA lenders with $15 billion
or more in assets and a record-breaking loan volume for Key,
according to recently released rankings information from the
SBA.
Key earned a top three ranking in loan volume in four SBA
districts and increased loan volume by 40 percent or more in 11
districts, including: Buffalo,
Colorado, Columbus, Maine, Massachusetts, Michigan, New
Jersey, Portland (OR),
Seattle, Utah and Vermont.
"This growth reflects a robust environment for small businesses
across the U.S.," said Jim Fliss,
National SBA Manager. "It also is a testament to KeyBank's
long-term commitment to the SBA's programs and underscores the
flexible financing solutions these programs provide to benefit
businesses. We've invested heavily in all areas of our national SBA
lending platform, from loan origination through closing, to ensure
that business owners can efficiently access the capital they need
while receiving the highest level of service and attention from our
specialized SBA lending staff."
In 2017, KeyBank forecasts strong demand for SBA programs coming
off another record lending performance set by the SBA this year.
Key has plans in place to expand its reach into new and
existing markets. "We are excited about our recent acquisition of
First Niagara. This will allow us to better service the
entrepreneurs in Pittsburgh,
Philadelphia and New Haven. In addition, we have seen sustained
SBA expansion across the country, especially in the Cleveland, Columbus, Colorado, Portland (OR) and Seattle SBA districts. We
look forward to continuing to serve our communities in 2017 by
supporting the growth of the local businesses that help them
thrive," said Fliss.
About KeyCorp
KeyCorp's (NYSE: KEY) 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 $136 billion
at September 30, 2016. Key provides
deposit, lending, cash management, insurance, and investment
services to individuals and businesses in 15 states under the name
KeyBank National Association through a network of more than 1,200
branches and more than 1,500 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. © 2016. KeyCorp CFMA # 161114-162734
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SOURCE KeyCorp