Special ask: please help us filling out the survey about your application by sharing COVID Loan Tracker with your business network.

As many of you know, we started a site called COVID Loan Tracker yesterday to help small business owners track applications and loan issuance so they can know when money starts to flow.

FINSUM readers gave an enormous response with over 200 small business owners in our space filling out the survey. Overall , as of 7:30 am we have had 440 small businesses report on CTL in the first 18 hours, representing up to $650,000,000 in loan applications across 47 states. Below are the findings:

0% have received PPP loans (i.e. money actually deposited)

0% have received EDL grants (i.e. money actually deposited)

39% are LLCs

28% are S-corporations

Average PPP loan request: $427,000

Average employees per application: 14

96% of applications are for less than $50,000

18% applied for more than $250,000

2% applied for $1m or more

49% applied through small and/or regional banks

16% applied through JP Morgan Chase

The conclusion is that money is clearly not flowing yet (at least at any meaningful level). Please share CTL with your networks so we can aggregate more data to keep small business owners informed and empower the media with data to keep the government accountable.