UMB Busy Processing Loans After PPP Stoppage

The Small Business Administration yesterday announced that its $349-billion Paycheck Protection Program has been wiped out.

But at least one area lender is seeing an increase in loan allocation.

UMB Bank has recently processed 3,000 applications totaling $1.4 billion. “It’s taken UMB 107 years to achieve $14 billion in loans, so it’s an incredible accomplishment for us to be processing this amount in a little more than one week’s time,” said Mariner Kemper, UMB’s chairman and chief executive officer. “We will continue to proactively work with our customers during this time to support them as we always have.”