MANUFACTURERS AND TRADERS TRUST
PPP Lender · 90,029 loans · $13.31B total · 48 states served
MANUFACTURERS AND TRADERS TRUST was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 90,029 PPP loans totaling $13.31B, representing approximately 0.79% of all loans nationwide.
MANUFACTURERS AND TRADERS TRUST served borrowers across 48 states. The largest concentration of activity was in New York, where the lender originated 31,756 loans totaling $5.00B. Other states with significant activity included Maryland, Connecticut, Pennsylvania.
The average loan size for this lender was $147,845. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through MANUFACTURERS AND TRADERS TRUST were: SERVICE MANAGEMENT GROUP (CT) — $10,000,000; NORTHEAST SECURITY, INC (MA) — $10,000,000; MISSION BBQ MANAGEMENT, LLC (MD) — $10,000,000; and INTERMED, P.A. (ME) — $10,000,000.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| New York | 31,756 | $5.00B | 97.8% |
| Maryland | 15,769 | $2.11B | 97.1% |
| Connecticut | 15,513 | $1.53B | 98.9% |
| Pennsylvania | 8,263 | $1.43B | 97.7% |
| Massachusetts | 3,780 | $749.7M | 98.9% |
| Delaware | 3,021 | $394.9M | 97.6% |
| New Jersey | 2,765 | $639.3M | 97.3% |
| Vermont | 2,752 | $342.9M | 99.6% |
| Virginia | 2,199 | $351.8M | 96.5% |
| New Hampshire | 1,940 | $251.4M | 99.5% |
| Maine | 793 | $134.7M | 99.1% |
| District of Columbia | 669 | $125.4M | 96.6% |
| Florida | 234 | $84.9M | 97.0% |
| West Virginia | 115 | $7.5M | 95.7% |
| Ohio | 57 | $25.6M | 98.2% |
| Rhode Island | 56 | $13.4M | 100.0% |
| North Carolina | 54 | $16.9M | 98.1% |
| Texas | 35 | $14.5M | 94.3% |
| South Carolina | 35 | $5.7M | 97.1% |
| Colorado | 31 | $12.2M | 96.8% |
| Georgia | 29 | $14.4M | 96.6% |
| California | 29 | $10.9M | 96.6% |
| Illinois | 22 | $9.0M | 100.0% |
| Arizona | 16 | $5.2M | 100.0% |
| Michigan | 12 | $1.2M | 91.7% |
| Nevada | 9 | $624,280 | 100.0% |
| Kansas | 9 | $4.5M | 100.0% |
| Washington | 8 | $2.6M | 75.0% |
| New Mexico | 7 | $390,447 | 100.0% |
| Minnesota | 7 | $1.7M | 100.0% |
| Kentucky | 7 | $2.2M | 85.7% |
| Indiana | 7 | $2.3M | 100.0% |
| Tennessee | 4 | $2.9M | 100.0% |
| Wisconsin | 3 | $843,762 | 100.0% |
| Missouri | 3 | $87,292 | 100.0% |
| South Dakota | 2 | $1.3M | 100.0% |
| Oregon | 2 | $41,664 | 100.0% |
| Mississippi | 2 | $509,604 | 100.0% |
| Louisiana | 2 | $443,348 | 100.0% |
| Idaho | 2 | $32,029 | 100.0% |
| Iowa | 2 | $125,345 | 50.0% |
| Hawaii | 2 | $21,684 | 100.0% |
| Wyoming | 1 | $20,833 | 100.0% |
| Utah | 1 | $100,792 | 100.0% |
| Oklahoma | 1 | $3,300 | 0.0% |
| Nebraska | 1 | $81,125 | 100.0% |
| Arkansas | 1 | $177,501 | 100.0% |
| Alabama | 1 | $370,000 | 100.0% |