The Paycheck Protection Program unfairly left millions of small businesses in the cold. We need to rectify that. But PPP won’t be fixed just by adding money to it. The program has major flaws that need to be addressed right away.

By capping PPP and having banks decide which businesses get funds, Congress and the White House created a system in which businesses with strong banking connections are getting easier access to funds while other businesses are shut out.

But the businesses that aren’t favored by banks are less likely to have access to loans outside of PPP, which means those businesses—the ones that are having the most trouble getting PPP funds—may be the ones that most need access to it.

PPP needs more money, but more money won’t be enough without other substantial fixes to the program.

Those fixes should include giving businesses flexibility to use funds to change to new models that will help them adapt and survive, which means allowing them greater latitude to apply funds without penalty, not just on staffing but also on other essential items and functions.

This also would stop the program from continuing to penalize small businesses that find they’re unable to rehire employees because newly enhanced unemployment insurance benefits during the pandemic are bigger than workers’ paychecks would be.

Without fixes to the program, many small businesses will continue not to benefit from PPP, and we’ll be talking again about the ongoing failings of the program in the coming weeks.