May 28, 2020 / 5:02 PM / a month ago

Bill lengthening coronavirus small business loan terms nears U.S. House passage

FILE PHOTO: The U.S. Capitol Rotunda on Capitol Hill in Washington, U.S., as the death toll from the coronavirus disease (COVID-19) pandemic exceeds 100,000 victims, May 27, 2020. REUTERS/Tom Brenner/File Photo

WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday neared passage of legislation increasing the amount of time, to 24 weeks from the current eight-week deadline, for small businesses to use Paycheck Protection Program loans.

As voting continued, the bill was headed to overwhelming passage in the House.

Reporting by Richard Cowan; Editing by Chizu Nomiyama

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