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To help the smallest businesses in the country facing financial hardships, President Joe Biden announced on Monday that he will implement changes to provide more equitable access to the Paycheck Protection Program (PPP).

The first round of PPP loans closed in August, and in December, Congress added funding that allowed the second round of PPP loans to open on January 13.

According to a White House fact sheet released on Monday, funding for businesses with fewer than 10 employees is up by 60% compared to last year, while funding to businesses in rural areas is details ⇒

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