Mid Penn Bancorp, based in Millersburg, has approved and disbursed more than $ 290 million in loans for small businesses since the 2021 Paycheck Protection Program (PPP) portal opened for community banks on January 19.
Mid Penn Bank has obtained and disbursed loans for 2,047 businesses.
âDuring the first P3 cycle, when we made over 4,100 P3 loans to small businesses across our footprint that were in desperate need of funds to protect the paychecks of over 55,000 community members , we have established a process and reputation for providing a world-class PPP customer. experience, âsaid Rory Ritrievi, President and CEO of Mid Penn Bank. âNow, four weeks after the start of the second cycle of PPP, with process improvements that make it even easier to apply, we are once again having tremendous success. The majority of our PPP borrowers in 2021 received a 2020 PPP loan from us, but we are also adding new borrowers due to the reputation we have built in this first round. We are excited about these results, as we have already taken out over 2,000 second-round loans while protecting over 25,000 other paychecks. “
Mid Penn Bancorp is the parent company of Mid Penn Bank and MPB Financial Services. It has locations in Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill and Westmoreland counties.