KeyBank expects to make $2.5B in 'new PPP' loans during first quarter

KeyCorp CEO Chris Gorman is a big believer in the U.S. Small Business Administration's Paycheck Protection Program. The program has been the federal government's main vehicle for providing financial relief to small businesses so they can survive the Covid-19 pandemic. During the first round of PPP last spring and summer, KeyBank (NYSE: KEY) — which has the fifth-highest market share in Colorado — processed 43,000 PPP loans amounting to more than $8 billion, Gorman said. Since the beginning…