WASHINGTON, Sept 18 Reuters The Biden administration is preparing to unveil new regulatory measures to allow more U.S. financial support for small private businesses in Cuba, a person familiar with the matter said on Monday.

The move, expected as soon as this week, is seen as a longpromised but limited step to ease restrictions to help Cuba39;s budding entrepreneurs cope with fallout from the Communistruled island39;s crippled economy.

The announcement is aimed at making it easier for Americans to directly assist Cuban small business owners by providing guidelines for loans to them through the U.S. financial system, the source said.

The new measures could be rolled out while Cuban President Miguel DiazCanel is visiting New York for the United Nations General Assembly beginning on Tuesday.

There is no sign, however, that this move could be part of a more dramatic easing of U.S. sanctions and other restrictions on Cuba, beyond the modest steps that Biden has already taken since coming to office January 2021.

We believe the private sector is Cuba39;s best hope for generating economic development and employment to improve the standards of living for the Cuban people and reduce the current highlevels of migration, a State Department official said.

The official insisted that any U.S. steps to aid the Cuban people would be carried out restricting to the furthest extent possible any benefit to the Cuban military.

The Cuban embassy in Washington did not immediately…