Harris Announces $1.7 Billion for Businesses in ‘Underserved’ Communities

U.S. Vice President Kamala Harris speaks to reporters after participating in a swearing in ceremony for Eric Garcetti as ambassador to India at the Eisenhower Executive Office Building in Washington, on March 24, 2023. Anna Moneymaker/Getty Images

The Biden administration on April 10 announced a $1.7 billion grant program aimed at helping small businesses in underserved communities access the capital and financing services they need to recover from COVID-19 pandemic lockdowns.

Vice President Kamala Harris unveiled the program during a news conference alongside Deputy Treasury Secretary Wally Adeyemo where she called small businesses “the backbone” of the U.S. economy.