WASHINGTON (AP) — President Joe Biden is targeting more federal pandemic assistance to the nation’s smallest businesses and ventures owned by women and people of color. The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees can apply for forgivable loans under the Paycheck Protection Program. Such businesses make up the majority of small businesses in the U.S. Biden’s team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color.
