May 18, 2020 / 7:33 PM / 7 days ago

Trump says should be possible to allow PPP borrowers more time to use loans

WASHINGTON, May 18 (Reuters) - U.S. President Donald Trump said on Monday extending the amount of time borrowers in the Paycheck Protection Program have to spend their funds to 24 weeks from the current eight weeks “should be easy.”

Trump made the comment at a White House roundtable event with restaurant executives, who urged the extension.

U.S. Treasury Secretary Steven Mnuchin said he was working on a technical fix to the PPP program that could extend the time frame but it may not be for 24 weeks. (Reporting by Jeff Mason; Writing by Eric Beech; Editing by Sandra Maler)

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