Small-business layoffs increased tenfold in March as economic activity shut down to prevent the spread of Covid-19. As Congress continues to address this crisis, we must replenish funds for the Paycheck Protection Program, the largest small-business relief package in American history. According to the Small Business Administration, more than one million loans have been approved, with more than $247 billion processed. The $350 billion Congress allocated is expected to run out by Friday.

Everyone agrees the program needs more...