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M&T Bank commits $1M for small business loans in PG County

M&T Bank is the 11th bank to join FSC First’s Bankers Task Force, comprised of financial institutions participating in the loan pool. (File photo)

M&T Bank has committed $1 million to provide loans to small businesses in Prince George’s County that would not typically qualify for loans, with a focus on women-, minority- and veteran-owned businesses, through FSC First’s loan pool.

Based in Prince George’s, FSC First provides funding for small businesses through a variety of loan products. M&T Bank’s contribution is the second largest provided by a bank to the loan pool; Truist Bank made the largest contribution.  

Other banks that have contributed to the pool are Eagle Bank, Fulton Bank, Industrial Bank, PNC Bank, Primis Bank, Sandy Spring Bank, TD Bank, Wells Fargo Bank and WesBanco.

M&T is the 11th bank to join FSC First’s Bankers Task Force, composed of banks participating in the loan pool. Members of the task force “advise FSC First in matters of loan policy, loan procedures, and establishes FSC First’s annual borrowing rate and responds to other matters deemed appropriate regarding the FSC First and banking relationship,” according to the organization’s website.