The National Federation of Independent Businesses (NFIB) released survey results April 21 finding 79 percent of small business owners are waiting for a Paycheck Protection Program (PPP) loan deposit to their bank account.

“These survey results are not surprising,” said Matt Everson, NFIB state director in Iowa in a prepared statement. “I’ve been talking with small business owners every day, and many of the small business owners who are the most desperate for funding are the business owners who are not getting the help they need to survive this crisis. Congress needs to act now and get Iowa small business owners financial assistance before many of them go under.”

PPP loans have garnered attention in recent days because the program has run out of funds amid the COVID-19 pandemic. The NFIB’s survey found 74 percent of small business owners have applied for a loan, which allows them to continue paying workers and keep their firms solvent during downturns. The terms of the loan incentivize employers to keep employees on their payroll in exchange for forgiving the amount borrowed.

“[The Small Business Administration] (SBA) will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities,” according to the administration’s website.

The lapse in congressional appropriation of funds for PPP loans comes as the national unemployment rate soars, as millions of Americans have lost their jobs each of the past several weeks as businesses shut down due to public health restrictions implemented during the public health crisis.

Iowa’s members of Congress from both parties have praised the loan program and called for additional funding. Rep. Cindy Axne, D-West Des Moines, released a statement calling on congressional leaders from both parties to come together to pass a bill appropriating more funds for the program “as soon as possible.”

Sen. Joni Ernst, R-Red Oak, said in a tweet the program is “working in Iowa!”

Iowa’s junior senator touted a church in Glenwood that was able to access funds from the program, adding in her tweet “we need to get more funds into this program ASAP.”

Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza released a joint statement lauding the success of the program and joining the calls for Congress to allocate additional funds for it.

“The Paycheck Protection program is saving millions of American jobs and helping small businesses get through this challenging time,” Mnuchin and Carranza said in the statement. “We urge Congress to protect millions more American workers and their families by appropriating additional funding to support PPP.”