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Congress Extends Small Business Loan Program for 5 Weeks

The House on Wednesday agreed to extend for five weeks a popular pandemic relief loan program for small businesses, sending President Trump legislation to give companies more time to apply for federal help under an initiative created by the stimulus law.

The move to extend the Paycheck Protection Program through Aug. 8, which allows small businesses to secure low-interest loans to help maintain their payrolls, came as Republicans and Democrats remained divided over how much additional federal assistance to provide to businesses and individuals affected by the coronavirus and the economic hardship it has caused.

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