Those bank deposits can be used for lending. That doesn't mean they are. And banks can currently borrow from The Fed at practically no interest, so the effect you're describing currently doesn't exist.
It's also entirely independent of the original money. The money would also be deposited in a bank and used for lending if it was paid to employees as wages.
Fed discount window loans are rarely used in practice, generally have a term of 12 hours except in rare circumstances and are fully collateralized. The idea that banks use the discount window routinely to get free government money is malarkey.
Those bank deposits can be used for lending. That doesn't mean they are. And banks can currently borrow from The Fed at practically no interest, so the effect you're describing currently doesn't exist.
It's also entirely independent of the original money. The money would also be deposited in a bank and used for lending if it was paid to employees as wages.