Second Round Of PPP Loaned $175 Billion To Businesses In A Week

The video discusses the distribution of $175 billion in loans to small businesses since April 27th, with a potential third round of funding. The Treasury Department and SBA have issued 2.2 million loans in the second round, averaging $79,000 each. A total of 3.8 million loans have been processed with $310 billion in funding. The Treasury reserved $60 billion for small lenders, capping borrowing at $60 billion per lender. Loans are forgiven if used to maintain payroll for eight weeks. The administration may extend the program to a third round due to its popularity and effectiveness.

What is the total amount allocated to small businesses since the program started?

How many loans were issued in the second round of funding?

What is the average size of the loans issued since the launch of the program?

What conditions must be met for loans to be forgiven?

What did Larry Kudlow suggest regarding the future of the loan program?