More small-business aid?

Treasury Department is asking Congress for $250 billion more for a virus loan program employers rush to tap.

The Treasury Department is asking Congress for $250 billion more to aid small businesses, and Secretary Steven T. Mnuchin said he expects the House and Senate to act as soon as this week.

Mnuchin said Tuesday that he’s spoken with Senate Majority Leader Mitch McConnell (R-Ky.), Senate Minority Leader Charles E. Schumer (D-N.Y.), House Speaker Nancy Pelosi (DSan Francisco) and House Minority Leader Kevin McCarthy (R-Bakersfield) about quickly securing the money.

“We look forward to the Senate passing that on Thursday and the House passing that on Friday,” Mnuchin said as he and President Trump met with bank executives at the White House. McConnell said earlier that the Senate could approve more funding for the program during Thursday’s pro forma session by voice vote or unanimous consent, which wouldn’t require all members of the chamber to return to Washington.

Pelosi said she supported providing additional funding but didn’t commit to seeking quick approval without additional conditions.

That program “needs money right away, we know that,” she said on CNN. But she said the government doesn’t have data so far on who is receiving the money. Democrats want to make sure the program is benefiting everyone who qualifies for it, she said.

“So we have certain considerations if we need to go forward with that,” Pelosi said without elaborating.

Schumer has not said whether he would support the plan for a quick vote just on a funding boost for the small-business program.

Businesses have rushed to tap the $350-billion Paycheck Protection Program that was part of the $2.2-trillion stimulus passed by Congress in response to the economic crisis spawned by the coronavirus pandemic.

Stay-at-home orders have particularly squeezed small businesses, which account for almost half of U.S. private employment.

Trump said the Small Business Administration has processed $70 billion in guaranteed loans, “which is far greater than we would have ever thought.”