PPP is definitely slowing things down but hopefully is about over. Unless covid continues, it should be finished and run out. Lots of larger companies transitioned to supplying/ originating SBA loans, lots of companies stopped funding for a month or more last year. The ones that are still around either barely made it or are thriving. At least that's what I have heard.
https://debanked.com/2021/05/how-fun...year-of-covid/
https://debanked.com/2021/04/ppp-app...-act-proposed/