The second round will also include potentially hundreds of millions of dollars returned by big companies after the furor, on top of the $310 billion. That includes $30 billion for institutions with under $10 billion in assets and $30 billion for those with $10 billion to $50 billion in assets. On Sunday, the SBA said in a memo it was setting a maximum dollar amount for individual lenders at 10% of Paycheck Protection Program funding, or $60 billion per lender, in this round to prevent any single bank with back-logged applications dominating this round of funding. Paperwork, tech problemsIn the first round, the SBA and the Treasury had to write the program rules on the fly, leading to confusion over its terms. This should help financial institutions with a significant application backlog pending before money ran out in the first round.

Source: Dhaka Tribune April 28, 2020 03:11 UTC