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Masked visitors see art at the El Museo del Barrio's Estamos Bien exhibition. The Museo has reopened, but with limited capacity.

That loan was rejected twice, the museum said, likely due to a glitch because it was applying as a nonprofit, even though it applied at Cross River, the same bank it had used for its first-round loan last year. In April, museum officials reapplied at other financial institutions, thinking they had more than enough time to be approved and funded before May 31. Even though the museum is now open again at limited capacity, the funding would have been a big help. Last year, the institution received a PPP loan for about $460,000 — 2.5 times monthly payroll for the 50-some employees — which hel...

Small business owners missed out on thousands of dollars in loans when PPP funding ran out early CNBC 2 hrs ago Carmen Reinicke © Provided by CNBC Masked visitors view art at El Museo del Barrio's Estamos Bien exhibit. The museo has reopened but at limited capacity. When the Paycheck Protection Program ran out of funding the first week of May – weeks ahead of its May 31 deadline – it was a huge surprise to the staff of El Museo del Barrio in New York. The Latino cultural institution in upper Manhattan was counting on a second-draw loan from the program to recover from...

The Paycheck Protection Program was supposed to run through May 31. But by the first week of May, it ran out of money.

The Paycheck Protection Program was supposed to run through May 31. But by the first week of May, it ran out of money.