Summary: Companies with 10 to 99 employees were significantly more likely to get their PPP loans accepted than their smaller 1-9 employee counterparts. Based on the US distribution of companies, it looks like $7 billion or more in small business loans ended up going to large 500+ employee enterprises. And the PPP program will likely be underfunded even in a second round, as it will take over $1 trillion to fully meet demand and banks are overwhelmed with the number of loans they need to process.

Throughout the last month, practically every company has been going through an uncomfortable transformation where telecom, network, mobility, cloud, software, and other IT assets and services were purchased, changed, redistributed, disconnected, upgraded, downgraded, and altered. It was a time of awkward challenge as the only goal was to be able to work from home.