For those of you applying for PPP 2nd tranche. .Money is likely already gone to those on waitlist…

CNBC: New $310 billion in aid for small businesses is likely already used up, banks say.

  • The more than $300 billion set aside to replenish the emergency loan program for small businesses impacted by the coronavirus pandemic is likely already all spoken for, banking industry groups said.
  • Banks say the volume of applications already sent to the Small Business Administration makes it likely that much, if not all, the new money will go to those already in the queue.
  • Any new applicants would likely miss out on this funding round, industry groups said.

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