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The PPP is still needed by a lot of businesses but the loans are smaller now. My business has been trying since the beginning to get a PPP loan but after a few attempts finally was told we will be approved yesterday but the final approval did not come before midnight last night and thus no PPP loan for us.
One note: the PPP loan banks have not been accepting all the acceptable payroll expenses for S-Corporations, which has led to the many applications to pare down to direct payroll only. This is an issue that needs to be investigated because I suspect a lot of small businesses like mine are not being approved for the fully allowable amount.