Pres. Biden Extends Paycheck Protection Program

The video discusses a relief program aimed at helping small businesses survive the pandemic. The president is encouraging lenders to enhance their support, especially for minority-owned businesses that were previously overlooked. The deadline for the Paycheck Protection Program has been extended to May 31st, allowing the Small Business Administration more time to review applications.

What is the primary goal of the relief program mentioned in the video?

• To provide loans to large corporations

• To reduce government spending

• To help small businesses survive during the pandemic

• To increase taxes on small businesses

Which groups are specifically mentioned as being affected by the initial round of the relief program?

• All small businesses equally

• European and Middle Eastern businesses

• Hispanic and Black American businesses

• Asian and Native American businesses

What action is the president taking to support small businesses?

• Offering tax breaks

• Pushing lenders to provide more help

• Increasing import tariffs

• Reducing interest rates

Until when has the deadline to apply for a loan under the Paycheck Protection Program been extended?

• June 30th

• July 15th

• April 15th

• May 31st

What additional time has been granted to the Small Business Administration?

• To hire more staff

• To reduce application fees

• To look over applications

• To increase loan amounts