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Daily CSR

Daily CSR
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KeyBank’s Top Rankings in SBA 7(a) Lending for FY 2023


KeyBank has made it to the list of top 15 lenders in the United States for the number of loans granted under the Small Business Administration (SBA) 7(a) and 504 lending programs for the fiscal year 2023. KeyBank issued 918 loans amounting to $229 million under the SBA’s primary 7(a) program and an additional 52 loans worth over $58 million under the SBA’s 504 program during this period. This performance placed KeyBank in the 14th and 12th positions nationally among more than 1,500 lenders for the 7(a) and 504 programs respectively.

The SBA’s 7(a) program is designed to assist small businesses with financial needs such as working capital, debt refinancing, and real estate acquisition or improvement. The 504 program, on the other hand, offers long-term, fixed-rate financing for significant fixed assets that stimulate business growth and job creation, including existing buildings, land, new facilities, and long-term machinery and equipment.

Jim Fliss, National Manager of KeyBank’s SBA Program, expressed pride in their team’s performance amidst challenging economic conditions. He emphasized their commitment to understanding their clients’ needs and proactively finding the best solutions for their businesses. KeyBank’s use of both programs demonstrates this commitment.

KeyBank has been a top-performing SBA Preferred Lender for over twenty years, facilitating access to capital for numerous small businesses 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 over $1.29 billion of this funding occurring in the last four years. Furthermore, KeyBank saw a growth of over 14% in the number of 7(a) units during the SBA’s FY 2023 compared to the previous year.
“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 the Small Business Administration (SBA) 7(a) program for the fiscal year 2023, KeyBank achieved impressive rankings at both the national and district levels. Specifically, KeyBank:
  • Secured the top position in the SBA district of Seattle, surpassing all other lenders;
  • Ranked among the top 3 in the SBA districts of Buffalo, Cleveland, Syracuse, and Portland; and
  • Made it to the top 5 in the SBA districts of Alaska, Colorado, Columbus, Connecticut, Indiana, Maine and Pittsburgh.
In terms of the amount loaned under the SBA 7(a) program for the fiscal year 2023, KeyBank was among the top 3 lenders in the SBA districts of Cleveland, Buffalo and Seattle.

All credit products offered by KeyBank are subject to collateral and/or credit approval, terms, conditions, availability and may be subject to change. Eligibility for SBA loans is determined by the SBA.

KeyCorp has a rich history dating back nearly two centuries to Albany, New York. Today, it is headquartered in Cleveland, Ohio and stands as one of the largest bank-based financial services companies in the nation. As of June 30, 2023, KeyCorp had assets totaling approximately $195 billion.