While Congress and the White House are promising to add billions to the Paycheck Protection Program, some small businesses say they are just trying to hang on long enough to get the money there now.
Advocates say overwhelming demand and confusion have delayed disbursement of the $349 billion in loans made available last Friday under the program aimed to help businesses suffering as a result of coronavirus lockdowns.
Small Business Administration officials have acknowledged that complicated policies, a surge of applications and the “newness” of the program made for a bumpy roll out. One SBA official In Arizona said while she doesn’t “have a crystal ball,” she expects the system to stabilize in the coming days.
But business owners say they are running out of time.
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