Promotes PPP loans to smaller businesses.
On Tuesday, in an effort to promote the value of the Paycheck Protection Program, President Biden visited a hardware store in Washington, D.C. that received payments from the program. The president’s administration recently offered an exclusive two-week window for the loans to applicants whose companies fewer than 20 employees. According to the president, 400,000 such companies have closed down since the start of the pandemic.
After the photo-op, Bharat Ramamurti, deputy director of the White House National Economic Council noted that the program had seen a “significant increase” in the total number of loans given to the smallest category of businesses including those that are minority- and woman-owned. The government has approved more than 300,000 loans to businesses with fewer than five employees.
As the Lord Leads, Pray with Us…
- That God would guide government officials as they provide aid to Americans.
- For the president’s administration as they work with local companies facing financial difficulties.
- For safety for President Biden as he travels.
Sources: The Hill, AP, NY Times
