Much-needed small business aid is beginning to trickle out and more is expected in the weeks to come as banks start to disburse the rescue funds to Main Street. But the first-come, first-serve Payroll Protection Program of $349 billion in aid may be nearing a ceiling for loan commitments, with more than 1.3 million loans given approval at a value of more than $296 billion through Wednesday afternoon, according to the Small Business Administration.
Read more here: https://www.cnbc.com/2020/04/15/small-business-rescue-loans-top-296-billion-rapidly-nearing-the-programs-funding-limit.html
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