Small Business Administration Says It's Out Of Money For PPP Loans

The Paycheck Protection Program (PPP) has run out of its initial $349 billion funding, leaving many small businesses without support. The Senate is at a standstill over additional funding, with Republicans seeking $250 billion more and Democrats wanting allocations for minority-owned businesses and additional emergency funding for hospitals and local governments. Criticism arises over the program's rollout and the potential economic impact of inaction.

What was the main reason the Small Business Administration stopped processing new PPP loans?

• Lack of interest from businesses

• Exhaustion of allocated funds

• Change in government policy

• Technical issues with the application system

What amount of additional funding did Republicans request for the PPP?

• $200 billion

• $100 billion

• $300 billion

• $250 billion

What do Democrats want to include in the new PPP funding legislation?

• More funding for large corporations

• Additional support for minority-owned businesses

• Tax cuts for small businesses

• Increased interest rates on loans

Who criticized lawmakers for potentially picking winners and losers in the PPP funding process?

• National Small Business Association CEO Todd McCracken

• Senate Minority Leader Chuck Schumer

• House Minority Leader Kevin McCarthy

• Senate Majority Leader Mitch McConnell

What is the potential consequence of not taking prompt action on PPP funding, according to the National Small Business Association?

• Stabilization of the stock market

• Increased employment rates

• A very painful long economic downturn

• A short-term economic boost