WASHINGTON—The Senate worked to coalesce on a deal that would double the amount of time businesses have to spend loans obtained through the Paycheck Protection Program, which is designed to help keep workers on payroll during the coronavirus epidemic.

“We have an agreement in principle on the basis of the language. We’re awaiting technical feedback from our Democratic colleagues,” Sen. Marco Rubio (R., Fla.) told reporters, with senators aiming to pass it as early as Thursday through unanimous consent before leaving Washington until June.

The change to the program would extend the time period to 16 weeks, and must be approved by the House. Under the current rule, the earliest recipients of PPP funds must finish using them by May 29.

Separately, House Democrats are expected next week to bring to the floor a bill to change the $660 billion program’s time frame, and change accessibility requirements. To become law, either bill would have to pass both chambers and be signed by the president.