KeyBank ranked second in small-business lending in Seattle and 11th nationally based on fiscal year 2019 loans issued through the U.S. Small Business Administration’s 7(a) loan-guarantee program, the bank announced.
The Cleveland-based lender has issued more than $1.3 billion in SBA-guaranteed financing to thousands of small businesses since 2015 ― including $311 million in 7(a) loans in fiscal 2019. It is the fifth largest bank in Washington based on market share, with some $12 billion in deposits and 154 locations. The standard 7(a) loan has a maximum loan amount of $5 million and a SBA loan-guarantee of 75% for loans greater than $150,000, according to SBA guidelines.
“While our recent results and longstanding commitment to small businesses is clearly validated through our national rankings, this only tells part of the story,” says Jim Fliss, Keybank’s national SBA manager. “Our mission is to develop strong relationships with business owners in our communities and help them achieve their dreams.”
This past summer, KeyBank named a new Seattle-Cascades market president, Matt Hill, the former Union Bank Pacific Northwest market president of commercial banking. He replaced Carol Nelson, who is credited with raising KeyBank’s profile and reinvigorating its brand in the community. She was accountable for the bank’s for sales teams managing $3 billion in loans across Washington, Oregon and Alaska.
KeyBank ranked first in SBA loan volume in Portland, Oregon, and also earned a second-place showings in Buffalo and Cleveland. It was second statewide in Indiana and Maine, and third in Connecticut and Vermont, the bank announced.