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Biden Announces New Changes to the PPP Program for Small Businesses
Posted
February 22, 2021
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58,522
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February 22, 2021
58,522
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1:58Now PlayingPresident Joe Biden said his administration is seeking to help small businesses by giving them exclusive access to the Paycheck Protection Program for two weeks, and he called on lawmakers to pass his $1.9 trillion stimulus plan to provide additional assistance.
From Feb. 24 through March 9, only businesses with fewer than 20 employees will be able to apply for relief through the program, which provides loans to pay workers.
“Small businesses are the engines of our economic progress,” Biden said Monday at the White House. “They’re getting crushed.” He said 400,000 small businesses have closed during the pandemic and “millions more are hanging by a thread.”
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