U.S. Chamber Welcomes Biden Administration’s Change to Payroll Protection Program Lending

Tuesday, February 23, 2021 - 11:45am

WASHINGTON, D.C. — Today, the U.S. Chamber of Commerce welcomed the Biden Administration’s changes to PPP Lending. The changes are aimed at extending aid to minority-owned businesses and to the nation’s smallest firms. Only businesses with fewer than 20 employees will be able to apply for PPP funds through March 9.

Tom Sullivan, the U.S. Chamber's vice president of small business policy, released the following statement: 

“The U.S. Chamber of Commerce applauds the Biden Administration’s focus on ensuring that Paycheck Protection Program (PPP) funding reaches small businesses who desperately need assistance. The Chamber will be working to ensure that small businesses with under 20 employees have the information they need to benefit from the PPP program. We also urge Congress and the Administration to broaden the effort by extending the March 31st PPP application deadline through the end of the year.” 

The Chamber will be hosting a live Small Business Update on the PPP program on our digital platform GrowWithCo.com Thursday, February 25 at 12:00pm ET. You can register for the event, here.

In response to the toll of COVID-19 on small businesses, the Chamber launched the Save Small Business Initiative, and has been advocating for policies and aid to help companies stay afloat and keep paychecks flowing to American workers and families during this time.