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House passes bill to ease access to small-business loans in pandemic, but impasse with Senate remains

House passes bill to ease access to small-business loans in pandemic, but impasse with Senate remains
Thursday 28
20:11 2020

The House legislation, strongly supported by business groups that lobbied hard for changes to the existing program, would give businesses more time to have the loans forgiven and paid off by the U.S. government. The vote came as the Labor Department reported that an additional 2.1 million Americans filed jobless claims last week, bringing the 10-week total to more than 40 million applications. AD The Paycheck Protection Program (PPP) has emerged as one of the most visible elements of the $2 trillion Cares Act, which passed Congress in March and was meant to blunt the economic fallout from the pandemic. ...

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Washington Post : House passes bill to ease access to small-business loans in pandemic, but impasse with Senate remains

Summary: The legislation would give businesses more time to have the loans forgiven and paid off by the U.S. government.

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