M&T Bank Funds Over $1.5 Billion in Maryland PPP Loans

8,366 M&T Bank customers in Maryland have been approved for the Payment Protection Program (PPP) as of Wednesday, according to Scott Graham, a spokesperson for M&T Bank’s Maryland, Washington, D.C., Virginia, Delaware and Pennsylvania locations.

The loans total more than $1.5 billion, and will help over 163,500 Maryland jobs, Graham said. 

32,273 customers across all locations have been approved for PPP loans, according to a statement from the bank. The almost $7 billion in funding is going to companies that employ over 718,000 people total. The PPP is under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and is meant to help small businesses keep up with payroll during the COVID-19 crisis.

About Maryam Shahzad

Maryam is a reporter with Montgomery Community Media. She graduated from the University of Maryland in 2019 with a bachelor's degree in broadcast journalism. Previously, she was an intern with MCM. She can be reached at mshahzad@mymcmedia.org or on Twitter @maryam_mcm.

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