The SBA burned through $342 billion in Paycheck Protection Program’s (“PPP”) loan funds in just over a week. And of course it ran out of funds long before all applications were processed, leaving many businesspersons waiting to see if the program will be properly and fully funded (we think it will).
Where did the money go?
Well, the SBA has issued a good and short PowerPoint presentation on the destination of the loaned funds to date. That is here.
If you need help accessing PPP funds or the companion Emergency Income Disaster Loan funds, please contact Rebecca Simpson Heimlich (513-797-2856).