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After a Rush for More Small Business Funding, PPP Loan Money Remains Untapped

June 3, 2020

In 14 days, the Small Business Administration processed 14 years’ worth of loans, in the first round of funding for the Paycheck Protection Program. The second round has been an entirely different story.
After a rush to replenish the program with $310 billion in additional funding, the second funding round began April 27. More than a month into round two, there’s more than $120 billion still left unallocated for small businesses.

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