If getting a Paycheck Protection Program (PPP) loan approved meant you had to move at warp speed, getting one forgiven may well feel like you're stuck in slow motion.

That's the case for Andrew Cao, a managing partner at Motoza, the Austin-based digital marketing agency he founded in 2011. Cao tapped into the PPP -- the $521 billion forgivable loan program designed to bridge small businesses through the pandemic--in May, after some of his clients started pulling their business. He applied through a local lender, Horizon Bank, after failing to get in on the first tranche of PPP funding with his company's own bank, Bank of America.

"It was just a really bad experience, and unfortunately it had to happen this way," said Cao, who has not taken that experience lightly. "We have been transferring money from BofA to Horizon for the past couple of months."

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