Updated data from the Small Business Administration (SBA) shows that Washington businesses received $12.354 billion in loans through May 8 under the paycheck protection program. From May 1 to May 8, the number of loans to Washington businesses increased by 7,861 and their amounts increased by $352.7 million.

As of May 8, the program has about $121.1 million left. The Wall Street Journal writes about the “cooling demand” for the program. Some possible reasons for that: The exclusion of public companies, duplicate loan applications, and “many business owners have concluded that the SBA’s Paycheck Protection Program simply doesn’t meet their needs, lenders and others say, or they are waiting for the government to clarify the terms under which loans can be forgiven.” (See here for more on the terms of the program.)

Also, according to the Wall Street Journal, the next federal aid bill could make media organizations eligible for the paycheck protection program. Many newspapers and broadcasters hadn’t been eligible for the program due to its affiliation rules. In the Seattle Times, Dean Miller wrote last week about which newspapers in Washington are eligible under current rules.