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M&T Bank has received more than 900 applications for Paycheck Protection Program (PPP) loans from businesses in Delaware and the Eastern Shore of Maryland one week after the latest round of federal relief opened to businesses still in need of help during the pandemic. Those loans total nearly $102 million and will support over 36,000 jobs throughout Delaware and the Eastern Shore. The average size of loans the bank has approved so far in the region is $113,437. Throughout its entire eight-state footprint, M&T has received and submitted to the U.S. Small Business Administration more than 13,000 PPP loan applications requesting over $1.9 billion for businesses employing a total of more than 309,000 workers. About half of the applications have been approved by the SBA, and the bank already has begun to disperse funds to businesses. The SBA fully opened the PPP portal Jan. 19, 2021, at which point M&T reopened its high-touch, high-tech PPP loan portal. Unlike the last round of PPP funding, M&T opened its portal to prospects in addition to existing business banking customers. All business owners need to apply is an M&T commercial checking account. “We’re grateful to play such a valuable role in these challenging times for many businesses,” said Nick Lambrow, M&T’s Regional President for Delaware. “M&T recognizes the vital role small businesses play in our local economies. As such, we are committed to mobilizing any necessary resources to keep businesses open and provide the support they need.” As in prior rounds of PPP funding, M&T saw a large volume of applications in the first week, with loan requests beginning to slow. About three-fourths of the loans requested through M&T Bank were for less than $150,000, with the average loan size at $141,457. Per SBA guidelines, applicants can have no more than 300 employees. More than three-fifths of applicants through M&T have 10 or fewer employees. As the largest SBA lender in Delaware in terms of number of loans, M&T Bank is committed to supporting the small businesses that make up the fabric of its communities. The bank continues to process loan forgiveness applications related to previous rounds of PPP funding to ensure businesses receive the support they need to keep their doors open. For more information about PPP lending through M&T Bank, please visit: https://www3.mtb.com/homepage/explore-the-m-and-t-bank-help-center/covid-19-response/covid-19-business About M&T Bank M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.