The vice president and Treasury secretary both lamented how little Paycheck Protection Program funding went to Black entrepreneurs in 2020 under President Trump. By contrast, Biden's recovery plan would allocate $15 billion in "equitably distributed grants" to more than 1 million of the most-impacted small businesses, Yellen said. Those grants will be used to finance up to $175 billion in low-interest loans to those businesses, according to the White House's website.
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