House Votes to Extend Popular Small Business Loan Program

The House voted Thursday to give small businesses financially strapped by the Covid-19 crisis more flexibility to spend forgivable loans for payrolls and expenses from the government’s popular Paycheck Protection Program.

The 417-1 vote sends the measure to the Senate, which may seek changes. The bill’s sponsors say urgent action is needed because the eight-week period when proceeds must be spent for loans to be forgiven will begin expiring Friday for the first loan recipients after the Small Business Administration program opened April 3.

The House measure would give companies much more time to spend the money -- within 24 ...