The SBA gave 1.66 million loans through the Paycheck Protection Program (PPP). There are 30.7 million small businesses in America according to the SBA. So 5.4% received funds before the program ran out of money last week. 94.6% received nothing.

The SBA has not released how many businesses have applied but a site that has conducted a survey of over 10,000 businesses found that only 5.8% of businesses that applied received funds for PPP (as of last week).

https://www.covidloantracker.com/ 

While the vast majority of actual small businesses received nothing, some of the large public companies that received funds...
Potbelly: $10 million
Ruth's Chris Steak House: $20 million
Fiesta Restaurant Group: $10 million
Shake Shack: $10 million
Quantum: $10 million

Overall, 44% of the loans granted were greater than $1 million. Of these, 4,412 (9% of total) were greater than $5 million. How many of these were actual small businesses?

https://www.sba.gov/sites/default/files/2020-04/PPP%20Deck%20copy.pdf

Many questions...

1) How could they pass a bill that underestimated the true demand by such a large extent, and allow for loopholes that give large public companies the ability to access to loans ahead of actual small businesses that will not survive another week without help?

2) If they expand PPP by another $250 billion (seems likely) but keep the rules the same, that may only cover another few % of actual small businesses. The true need if the first round is an indication would be well into the trillions of dollars. Has anyone run the numbers?

3) How is it in any way fair to have a program where large loans to public companies are processed first (companies who need it least to survive) and the funds "run out" if you are not first in line? The government is essentially picking and choosing who will remain afloat.

4) Why wasn't there any consideration for giving priority to "non-essential" industries most affected by the shutdown, where revenue literally went to $0 in some cases? Construction received the largest funds while considered "essential" in most states w/ continued operations.