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House Clears Extension of Small Business Loan Program to August

July 2, 2020, 2:01 AM

The House gave final last-minute congressional approval Wednesday to extending the popular Paycheck Protection Program for small businesses until Aug. 8, hours after the deadline for applications lapsed with more than $130 billion still available.

The Senate had passed the extension Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications at 11:59 p.m. Both chambers used expedited procedures to send the bill to President Donald Trump, who was expected to sign it, according to a person familiar with the matter.

The PPP program was enacted in March as part of the $2.2 trillion coronavirus ...