New Delhi: The Biden Administration has announced a record-breaking 20 million new small business applications filed since President Biden assumed office, according to a press release late Thursday. The Vice President, Kamala Harris, while making the announcement, emphasized the Administration’s commitment to supporting small businesses as the backbone of the American economy. Small businesses strengthening the middle class involves job creation and expanded opportunities, Harris said.
The milestone comes amidst ongoing efforts by the Administration to invest billions in community lenders, providing crucial financial support to business owners in overlooked and underserved communities. This initiative has been instrumental in fostering record levels of small business creation from traditionally underrepresented communities in entrepreneurship.
The Vice President reiterated the Administration’s dedication to investing in small business owners and entrepreneurs nationwide, ensuring they have the resources not just to survive, but to thrive.