Biden Gives Small Firms Exclusive Access to Paycheck Program

Feb. 22, 2021, 6:25 PM

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 ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.