Top House Republican McCarthy confirms deal reached on small business loan bill

FILE PHOTO: McCarthy speaks to the media after a meeting to wrap up work on coronavirus economic aid legislation

WASHINGTON (Reuters) – The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.

“There is a deal that is done,” House Republican leader Kevin McCarthy told Fox News Channel.

(Reporting by Tim Ahmann; Editing by Chizu Nomiyama)