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Government loans start flowing to small businesses

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Associated Press -- The flow of money to small businesses under the government's coronavirus relief plan is picking up momentum although many company owners are still waiting and wondering.

Money that was held up by technological and legal issues and the sheer volume of applications began arriving in companies' bank accounts at the end of last week.

The Small Business Administration says more than 941,000 applications have been approved for over $226 billion from the Paycheck Protection loan program.

The loans of up to $10 million carry the promise of forgiveness if the money is used for retaining staffers or rehiring those who have been laid off.

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