US Treasury Secretary Steven Mnuchin said he's hopeful that an agreement with Democratic congressional leaders could be reached Sunday to provide billions of dollars more to small businesses in a package stalled in Congress, CNN reported.

"I think we're very close to a deal today. I'm hopeful that we can get that done," Mnuchin told CNN.

Mnuchin added that he is hopeful that if a deal is reached, the Senate could pass the bill on Monday and the House could pass one Tuesday.

The funding is needed to continue the Payroll Protection Program, a program for small businesses affected by the coronavirus crisis that ran out of funding last week. Congressional Democrats also said Sunday the parties were nearing an agreement.

Steven Mnuchin said that the deal would allocate $300 billion for the Paycheck Protection Program, $50 billion appropriated for the Economic Injury Disaster Loan program, $75 billion for hospitals, and $25 billion to invest in testing.