Biden Announces New Changes to the PPP Program for Small Businesses
Published Date: 2/22/2021
Source: Bloomberg Quicktake: Now
President 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.” Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake