Biden sets aside two weeks to help small businesses with PPP loans

25 minutes

•  But watchdog says it may be too little and too late

•  “I wonder how much money is going to be in this pool”

The Biden administration says the smallest employers will get two weeks of exclusive access to emergency payroll protection loans starting Wednesday,

President Joseph Biden says it’s an effort to target minority-owned businesses and other companies that have struggled the most to get government-backed loans during the COVID pandemic.

But Lloyd Chapman, president of the Petaluma-based American Small Business League, says he would be surprised if the effort have any widespread impact.

“I wonder how much money is going to be in this poo,” Mr. Chapman says.

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