Mid Penn Bank Closes $470 Million in Loans for Small Businesses from Paycheck Protection Program
Mid Penn Bancorp (MPB)
Last mid penn bancorp earnings: 4/27 04:01 pm
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Source: GlobeNewswire
MILLERSBURG, Pa., April 20, 2020 (GLOBE NEWSWIRE) -- Mid Penn Bank announced its team has helped close $470 million in loans for small businesses through the federal Paycheck Protection Program (PPP) and had already disbursed over $400 million of those funds to over 1,600 businesses. The bank disclosed this as part of its 8-K filing with the U.S. Securities and Exchange Commission (SEC). In all, Mid Penn Bank worked with 2,184 businesses to secure PPP loans. In just under three weeks since the CARES Act was signed into law, which created the PPP, Mid Penn Bank secured loans for 2,184 businesses that employ over 50,000 workers. To do this, Mid Penn leveraged its team of experienced commercial lenders and business development professionals to assist small businesses secure low interest loans (two-year term at 1% interest and no payments due for six months). All loans are 100% guaranteed by the Small Business Administration (SBA) if businesses use at least 75% of proceeds for payroll
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MPB
Earnings
- 10/23/24 - Beat
MPB
Sec Filings
- 12/11/24 - Form 425
- 12/11/24 - Form 8-K
- 12/4/24 - Form 4
- MPB's page on the SEC website