M&T Bank business financing review

What is M&T Bank?

Founded in 1856, M&T Bank has its headquarters in Buffalo, New York. It’s a financial institution with more than 775 bank branches spread across nine states.

This provider offers a range of financial products to its customers, including checking accounts, savings accounts, credit cards, personal loans, auto loans, business loans, mortgages and education financing.

What makes M&T business loans unique?

M&T offers secured and unsecured installment business loans of up to $100,000, with term lengths of up to 10 years.

M&T’s business loans are designed to accommodate for a number of business financing solutions, including the purchase of real estate, renovations, equipment financing and long-term working capital.

Throughout the process of your loan application, M&T Bank’s Relationship Managers can help guide you thought the task of selecting the best business financing product to fit the needs of your growing enterprise.

What other business financing options does M&T Bank offer?

• Commercial or investment real estate loans. Intended for the purchasing or refinancing of both owner-occupied business locations and investment properties, M&T’s business real estate loans start at $50,000 with fixed or variable interest rate financing and terms of up to 10 years.
• Equipment financing loans. Designed to help businesses lease commercial equipment, M&T’s tax-oriented and non-tax-oriented equipment leases start at $250,000 and offer both fixed and variable rate terms.
• SBA loans. These loans are guaranteed by the US Small Business Administration and offer funding of up to $5 million with variable interest rates for both experienced entrepreneurs and startup businesses alike.
• Business line of credit. With the Business Access Line of Credit starting at $5,000 and the FlexLine of Credit starting at $950,001, M&T Bank offers accessibility of loan checks, ATM transfers and withdrawals.

What are the benefits of an M&T Bank business loan?

• No restriction on loan usage. M&T doesn’t impose many restrictions on the use of its business loans, so you can use your funds to purchase real estate, fund an equipment purchase or expand your inventory.
• Start your application online. Enjoy the convenience of an online application process by starting your loan application process on M&T’s website.
• Easy repayment. Unsecured business loans with M&T Bank feature an automatic payment deduction feature, which means your monthly loans payments are withdrawn from your M&T business checking account so you’ll never miss a payment.

What to watch out for

M&T Bank offers both secured and unsecured term loans starting at $10,000 to eligible business owners, but be wary of potential drawbacks:

• Not available in all 50 states. M&T Bank business loans are only available in the following states: New York, New Jersey, Maryland, Connecticut, Delaware, District of Columbia, Pennsylvania, Virginia and West Virginia.
• You’ll have to apply first to see loan terms. M&T doesn’t offer any information about its loan fees on its website, which means potential borrowers could be in for a nasty surprise in the form of hidden fees and penalties.
• $100,000 cap on unsecured loans. If you aren’t prepared to offer up collateral to secure your business loan, the maximum amount you’ll be eligible for is $100,000, which may not be enough working capital for some borrowers.

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First Down Funding business loans			$5,000 – $300,000	Fee Based	At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400	Alternative financing up to $300K with highly competitive rates.	Check eligibility More Info		loading Fetching your data...
Lendio business loans			$500 – $5,000,000	Starting at 6%	Operate business in US or Canada, have a business bank account, 560+ personal credit score	Submit one simple application to potentially get offers from a network of over 300 legit business lenders.	Check eligibility More Info		loading Fetching your data...
ROK Financial business loans			$10,000 – $5,000,000	Varies	Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales	A connection service for all types of businesses — even startups.	Check eligibility More Info		loading Fetching your data...
OnDeck small business loans			$5,000 – $250,000	As low as 9.99%	600+ personal credit score, 1 year in business, $100,000+ annual revenue	A leading online business lender offering flexible financing at competitive fixed rates.	Check eligibility More Info		loading Fetching your data...
Rapid Finance small business loans			$5,000 – $1,000,000	Fee based	Steady flow of credit card sales, bad credit OK	Check eligibility More Info		loading Fetching your data...
Fundbox business loans			$1,000 – $100,000	4.99	You must have an established business.	Get flat rate, short-term financing based on the financial health of your business, not your credit score.	Check eligibility More Info		loading Fetching your data...
Kickpay e-commerce business loans			$20,000 – $1,000,000	Not applicable	At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.	Get a loan for your e-commerce business based on your sales history.	Check eligibility More Info		loading Fetching your data...
Fundera business loans			$2,500 – $5,000,000	7% to 30%	$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years	Get connected with short-term funding, SBA loans, lines of credit and more.	Check eligibility More Info		loading Fetching your data...
LendingClub business loans			$5,000 – $500,000	12.15% to 29.97%	12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better	With loan terms that vary from 12 to 60 months, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.	Check eligibility More Info		loading Fetching your data...
Monevo business loans			$500 – $100,000	3.99% to 35.99%	Credit score of 500+, legal US resident and ages 18+.	Use this connection service to get paired with a loan you can use for business.	Check eligibility More Info		loading Fetching your data...

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What does the Internet say about M&T Bank?

M&T Bank has been accredited with the Better Business Bureau (BBB) since 1985, and receives an A rating. Borrowers with M&T say they enjoy the bank’s online Bill Pay feature and convenient loan application process, but warn of manipulative lending practices and hidden fees. Negative reviews suggest the bank is guilty of “nickel and diming” its customers with multiple fees.

Reviews of M&T Bank’s customer service for business loans tend to be negative, with reviewers complaining of long wait times to speak with representatives and a lack of empathy or understanding on behalf of M&T staff.

Am I eligible?

M&T Bank doesn’t list eligibility criteria for its business loans online. You’ll have to submit your information before finding out if you qualify. If this process isn’t convenient for you, consider other business loan options.

How do I apply?

1. Go to M&T Bank’s website and click Business Loans.
2. Click Get Started Today.
3. Provide M&T with your full name, business industry, email address, phone number and business name. Click Get Started Today.
4. An M&T loan specialist will reach out to you through your preferred method of contact to gather more information from you. Or, you can follow up on the status of your application by calling or visiting your local branch.

Step-by-step application with screenshots

• 1. Go to M&T Bank's website and click Business Loans.

  

• 2. Click Get Started Today.

  

• 3. Fill in personal details and click Get Started Today.

  

What documents do I need to apply?

M&T Bank doesn’t provide information on its site about what documents are required to submit your application. But typically, lenders request that you provide the following:

• Government-issued photo ID.
• Your Social Security number and tax identification number.
• Business bank statements from the previous three months.
• Your business’s tax return.
• A void check from your business checking account.

I got the M&T Bank business loan. Now what?

• Review your loan documents. Your loan documents contain all the most important information about your loan, including any late fees or prepayment penalties M&T Bank may charge should you submit a late loan payment or pay off your loan early.
• Use your funds. Now that you’ve got the working capital you need, use your funds to expand inventory, purchase real estate or hire new talent.
• Set up payments. You can set up automatic monthly payments of your loan with M&T’s automatic payment deduction feature, in which your monthly loan payments are taken directly from your business checking account.

Bottom line

M&T Bank has several loan options for business owners looking to finance their business ventures. If you’re interested in pursuing a loan with this lender and live in one of the nine states it services, reach out to your local M&T Bank branch to learn more about the application process. But be wary of potential fees and penalties associated with an M&T business loan.

Compare your loan options with other lenders near you to ensure you receive the best rate and loan term for your business’s needs.

Frequently asked questions about M&T Bank

• Can I apply for an M&T Bank business loan online?

  You can start the application process online but to submit your application, you’ll need to schedule an appointment with your local M&T Bank loan specialist and submit the required documentation.

• What other business financing products does M&T Bank offer?

  In addition to its business term loans, M&T Bank also offers commercial and real estate loans, equipment financing loans, business lines of credit and SBA loans.

• Are business loans with M&T Bank secured?

  Business loans with M&T Bank can be both secured and unsecured. A secured loan with M&T requires collateral in the form of non-real estate assets.