Recently, the Small Business Administration (SBA) and the Treasury Department reported the Paycheck Protection Program exhausted its funding. As a result, it must stop accepting applications for loans that could save American jobs. The SBA’s website says that the agency is "currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding.”


Congressman Michael Cloud issued the following statement on the immediate need to replenish emergency funding:


“The Paycheck Protection Program is serving as a lifeline to our nation’s small businesses and workers during this pandemic. Republicans tried passing additional funding for the program last week, but Speaker Pelosi and Minority Leader Schumer blocked it. Now the program has run completely dry. Congress should prioritize American small businesses and families instead of political agendas.”