On July 10, 2012, the SLD issued the first funding wave for Funding Year 2012, committing $646 million for 16,935 applicants. The total dollars committed in FY 2012 wave 001 is higher than any wave in program history.
The wave also included denials for 850 applicants, totaling $27 million. Wave 001 was comprised of priority one applications at all discount bands. There are still 10,324 applicants who have pending FY 2012 priority one funding requests, totaling $1.7 billion.