U.S. likely to revise Paycheck Protection Program to cope with COVID-19 impact- WSJ

(Reuters) – The United States is expected to revise its aid program for small businesses to cope with the economic fallout of the coronavirus outbreak, the Wall Street Journal reported on Sunday.

The changes are expected to include granting businesses more flexibility to spend funds as well as extend the time to spend the loan money beyond the two months originally set by the government under the Paycheck Protection Program, the newspaper reported, citing lawmakers following the deliberations.

Reporting by Kanishka Singh in Bengaluru; Editing by Catherine Evans