How does giving businesses loans help exactly? You've just added debt to their financials without any corresponding increase in revenue to offset it, either now or in the future, and decreased their ability to take out more effective loans later. A small business simply cannot guarantee revenue streams to pay back giant loans after the current crisis is over, nor do they have the financial strength to weather an entire quarter or more of virtually no revenue.

If you want to save small businesses, you need to hit pause on all their bottom line costs until demand picks back up. That means freezing mortgage/rent payments, property taxes, and other debt obligations they have today. Anything short of that is mostly wishful thinking or throwing tax dollars at a non-viable solution. Also note that this doesn't help small business employees - I don't care how kind-hearted a business owner is, you can't pay employees when you're not making any money. Taking on giant loans to pay them is ridiculous - you're better off having the government pay them instead.