Biden administration changes PPP rules to help reach the smallest businesses katie lobosco circle cut
By Katie Lobosco, CNN Updated 9:44 AM ET, Mon February 22, 2021
(CNN)The Biden administration announced several changes Monday to the Paycheck Protection Program in an effort to reach minority-owned and very small businesses that may have previously missed out on accessing loans to help weather the coronavirus pandemic. Starting Wednesday, small businesses with fewer than 20 employees will have a two-week exclusive window to apply for the funding. Bigger businesses will be blocked during that time period.