Sr. White House reporter for Bloomberg News / @business. Reporting what I know, not what I think. jjacobs68@bloomberg.net 
Iowa
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NEW: SBA expects to run out of money for emergency coronavirus loans for small businesses imminently—*this afternoon,* sources tell me. The $349 billion in the PPP program is meant to help cover payroll.
It took 13 days for small businesses to tap pot of money Congress designated for PPP loans, meant to help keep workers on payroll, cover rent for 2 months. Many biz owners have messaged me that they’re still waiting for lifeline. Loan apps not approved yethttps://www.bloomberg.com/news/articles/2020-04-15/virus-rescue-fund-depleted-leaving-small-u-s-firms-shut-out?sref=yYYRek8e …
Of course.
This whole thing is a mess.
actually the program is great, my wife a sole proprietor hair stylist just received her funding yesterday. They just need more funding added to PPP, which Pelosi is blocking for more items that can/should be done in separate bill
Good try! It's Pelosi and Schumer who are holding up the additional funds to be allocated!
Out of 30 million small businesses, the entire amount of PPP will go to just over 1 million of them. I predict 15-20% of small businesses will permanently close by May.
They should’ve ignored #of employees and went with gross receipts or something like that.
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