Small businesses are the backbone of our communities. They strengthen the middle class by creating jobs and advancing opportunity. That is why President Biden and I have spent every day of our Administration fighting to invest in America's small businesses, their owners and entrepreneurs, and the workers who power them.
Today, I am proud to celebrate that a record 20 million new small business applications have been filed since we took office. This milestone comes as our Administration is investing billions of dollars in community lenders that provide capital and financial support to small business owners and entrepreneurs in overlooked and underserved communities. Our efforts are working with record small business creation from communities that are traditionally underrepresented in entrepreneurship.
President Biden and I will continue to invest in small business owners and entrepreneurs in communities across our nation, ensuring they have the resources to not only survive but thrive.
