Millersburg-based Mid Penn Bancorp 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 Jan. 19.
Mid Penn Bank secured and disbursed loans for 2,047 businesses.
“In the first round of PPP, when we originated over 4,100 PPP loans for small businesses throughout our footprint that desperately needed the funds to protect the paychecks of over 55,000 community members, we established a process and reputation for providing a world-class PPP customer experience,” Mid Penn Bank President and CEO Rory Ritrievi said. “Now, four weeks into the second round of PPP, with refinements to the process that make applying even easier, we again are experiencing tremendous success. The majority of our PPP borrowers in 2021 had received a 2020 PPP loan from us, but we are also adding new-to-us borrowers as a result of the reputation we built in that first round. We are excited with these results as we have already originated over 2,000 round 2 loans while protecting another 25,000 plus 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.