A breakdown of who actually got SBA PPP loans

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CNBC’s Kayla Tausche reports that the SBA approved 1.66 million PPP loans worth about $ 342 billion. With Paul Krugman of The New York Times. Chris Myers applied for a forgivable loan from the federal government. You run your business as if the added lifeline is not on the way. “I’m working together long enough to try to cover my studio rent and some incidental expenses,” said the Baltimore-based photographer. Hospitals and universities are his regular customers, and he has expanded to do more freelance photojournalism work with local magazines. “Hopefully, I won’t hit my bank account too much – 90% to 95% of business is gone right now, so I’m just keeping the lights on,” Myers said. Myers is among the millions of entrepreneurs who applied for a portion of the Paycheck Protection Program or PPP of $ 349 billion. It has been five days since you submitted your application and you are still not sure if you will receive funds. The first-come, first-served forgivable loan program sold out on Thursday, April 16, and many small business owners were still unsure of their standing. As of Thursday, about 1.6 million loans were granted, according to the Treasury. Three out of every 4 loans were for $ 150,000 or less. “People are waiting for money,” said Michael Maksymiw, a Marcum partner in West Hartford, Connecticut. “They are trying to get this money and pay the employees so they can buy food and function.” To access exclusive live videos from CNBC, subscribe to CNBC PRO:
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Viralrook: A breakdown of who actually got SBA PPP loans
A breakdown of who actually got SBA PPP loans
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