Small businesses with fewer than 500 employees closing twice as fast as larger companies

A new study by Kronos shows small businesses with fewer than 500 employees are closing at twice the rate of bigger companies due to the pandemic. Jake Walthour, CEO of Blueprint Capital Advisors, also predicts 30 to 50 percent of small businesses will be closed permanently as PPP loans run out. CNBC's Steve Liesman joins 'Squawk on Street' to discuss.