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 yet