Davis Applauds Paycheck Protection Program Success, Calls for Immediate Funding
U.S. Rep. Rodney Davis (R-Ill.) today applauded the success of the Paycheck Protection Program (PPP) through the CARES Act and called for additional funding for the program to be passed immediately. According to the Small Business Administration (SBA),Illinois is the fourth highest in the nation for approved loans. Nearly 45,000 loans totaling $12.5 billion have been approved within Illinois.
"This bipartisan program is helping small businesses pay their bills, keep employees on the payroll and we need to keep it going," said Davis. "Illinois is a leader right now among states for approved loans, but the program is running out of money. It's becoming pretty clear that a fourth package will be needed, but as we figure out exactly what is needed in the next major bill, we should make sure this successful program is adequately funded. Let's not make our small businesses and their employees wait because of politics."