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Speaker Nancy Pelosi has committed to holding a vote this week on a bipartisan bill that would give small businesses receiving Paycheck Protection Program loans more flexibility. Senate Republicans have also proposed fixes. So let’s hope they can put aside political differences and take care of small business.

The Cares Act lets businesses with up to 500 workers borrow up to 2.5 times their average monthly payroll at a 1% interest rate to cover employee compensation, rent, utilities and mortgage interest. But the law gave businesses eight weeks to spend the loans to qualify for forgiveness, and this deadline is approaching. Those forced by government to shut down want to spend the loans over a longer period so they can serve customers when demand returns.

Many also say that Treasury Secretary Steven Mnuchin’s loan-forgiveness stipulation that businesses spend 75% of the loan on payroll punishes businesses with high rents and overhead. Although Republicans and Democrats have urged Mr. Mnuchin to relax the requirement, he has refused. “It’s called the Paycheck Protection Program. It’s not called the Overhead Protection Program,” Mr. Mnuchin said last week. “We believe that the 75% was exactly consistent with the way the program was designed.”

Mr. Mnuchin has also limited the repayment period for businesses that don’t get their loans forgiven to two years, from the 10 years in the law. This change initially seemed reasonable, though it now appears that it will take some businesses, especially those in hospitality, longer than expected to return to normal operations. Some may have to wait until a vaccine is widely available.

Senate Republicans are backing legislation to give businesses 16 weeks to spend loans to qualify for forgiveness. This is fewer than the 24 weeks that Minnesota Democrat Dean Phillips and Texas Republican Chip Roy propose in their House bill that will be voted on this week. But the parties should be able to work out the difference.

Members of both parties also want to eliminate Mr. Mnuchin’s 75% rule and two-year repayment period. “Retaining employees is not possible if a business cannot retain their physical location,” Mr. Phillips notes. That’s right, and some landlords are now warning they won’t be able to make mortgage and tax payments since tenants aren’t paying rent.

OpenTable earlier this month projected that 25% of restaurants are likely to close permanently because of the pandemic. Government forced millions of businesses to close to protect public health, and Congress ought to fix Secretary Mnuchin’s obstacles to keeping them alive.