President Biden announced changes to the federal government’s Paycheck Protection Program. For two weeks starting Wednesday, it will accept applications exclusively from companies with fewer than 20 employees.
The federal government’s signature coronavirus-relief program for small businesses will accept applications exclusively from firms with fewer than 20 employees for 14 days starting Wednesday, according to Biden administration officials.
WASHINGTON—President Biden on Monday announced changes to the federal government’s signaturecoronavirus-relief program for small businesses, in a bid to improve access for very small companies and those owned by minorities or located in underserved communities.
As part of the changes, the Small Business Administration will accept applications for the Paycheck Protection Program exclusively from companies with fewer than 20 employees for 14 days starting Wednesday, Mr. Biden said.The changes “will make sure we look out for the mom-and-pop businesses even more than we already have,” Mr. Biden said.Read more: The Wall Street Journal »
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