The third federal aid bill included $349 billion for paycheck protection loans for small businesses. The Wall Street Journal reports,

Heavy requests for the previously approved $350 billion in loans are pushing Republican and Democratic lawmakers to consider augmenting the Paycheck Protection Program less than a week after it started accepting loan applications. President Trump said he supported providing an additional $250 billion in funding for loans, and Treasury Secretary Steven Mnuchin said he had spoken with congressional leaders about the package. . . .

The Small Business Administration has recorded 220,000 loans totaling roughly $66 billion as of Tuesday, according to a letter sent by the administration to congressional leaders to formally request the additional funding.

“Given the level of demand for the program, the administration believes the funds appropriated for this program will soon be exhausted,” acting Office of Management and Budget Director Russ Vought wrote.

Still, very few small businesses are reporting that they have received any money from the program. After the SBA approves a loan, it is up to the banks to actually provide the funds.

Meanwhile, yesterday Gov. Inslee announced a “Working Washington Small Business Grant.” Businesses with up to 10 employees that have been in business for at least a year are eligible for grants of up to $10,000. Grants may be used for operational expenses like rent and utilities, but they may not be used for payroll.

A total of $5 million will be spent, and the funding will come from the governor’s strategic reserve fund. The Department of Commerce notes, “Due to anticipated volumes, please allow 4 to 6 weeks for processing and disbursement of grants.”