WBEN Buffalo Business Report - Friday, May 15th 2020

M&T & SBA Provide PPP Numbers

M&T Bank has done a tally of its Paycheck Protection Program loans.  As of May 11th, 4,765 loans totaling $945 million were approved in the Buffalo/Niagara region, impacting 118,838 employees.  Last year, M&T approved 1,449 SBA loans across its footprint, and notes it approved more than 32,000 loans in just the past few weeks.

Crunching those numbers even further, the Small Business Administration reports more than 2-1/2 million loans guaranteeing more than $188 billion have been approved in Round Two of PPP.  Over 4.2 million small businesses have received loans for over $531 billion since the start of the PPP Program.

Through a deal with the New York State Thruway Authority, Empire State Thruway Partners LLC will rebuild or renovate all 27 service plazas along the highway.  The deal as reported by the Albany Business Review is for $450 million.  As part of the 33-year contract, Empire State Thruway Partners will spend $300 million in rebuilding or renovating the plazas.  It also receives the right to operate and collect rent from tenants at the rest stops for the life of the contract.

Old Man River on Niagara Street in Tonawanda has opened for take out.  The restaurant also offering drive-thru Smokehouse Chicken and Rib Dinners.  A portion of the proceeds from all drive-thru diners will go to the COVID-19 frontline workers of Western New York.

Taffy's in Orchard Park is opening today for take out only.