Biden Changes PPP Loan Rules to Benefit the Smallest Small Businesses | Small Business Trends


President Joe Biden announced Monday that he’s putting in place new rules for the PPP loan program that gives exclusive access to it to Main Street mom-and-pop businesses.

These smallest of small businesses, he said, haven’t gotten a fair shake at aid programs designed to help keep companies from going out of business during the pandemic.

“Small businesses are getting crushed,” Biden said. “Since the beginning of this pandemic, 400,000 small businesses have closed. Millions more are hanging by a thread.”

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