Small and medium-sized business are the backbone of every economy. Here in the US, small businesses employ over 50% of our nation's workforce and have contributed more than 65% of new jobs over the past 15 years. Despite this, small businesses often lack access to traditional financial products and services, especially in the face of the COVID-19 pandemic. This gap has further widened due to large scale bank consolidation and the decline of community banks (a traditional source of small business lending). Without access to capital, small businesses struggle to grow and communities miss out on the economic benefits they provide.
Learn more about our Small Business Recovery work and check out our additional Small Business news, features, and resources below.
When the PPP loan was announced by Congress, many businesses found themselves shut out of the process due to a lack of information and access to the program through traditional financial institutions
07/06/21 | By Caitlin Rosser
The SOAR Fund will focus on the south. They want to make sure the Black, Hispanic and Native American communities in the south are getting the help they need for their businesses.
One in three small businesses is on the edge and may not survive the next three months without help. The California Rebuilding Fund will make low-interest loans to help small businesses survive.
Every two years, we conduct an investor survey to better understand the motivations of our investor base, the challenges they face in investing for impact, and how we can serve them better
09/15/20 | By Caitlin Rosser
The NY Forward Loan Fund (NYFLF) has lent more than $3.1 million to support 77 businesses and residential landlords across NY state with COVID-19 related costs and expenses as of today
08/05/20 | By Beth Bafford
As the economic impact from COVID-19 unfolds, small businesses —those that underpin the economic, social, and cultural fabric of the United States— are facing extreme challenges
03/27/20 | By Leigh Pomerantz
We recently closed a loan to Chicanos Por La Causa (CPLC), a community development corporation that serves individuals and families with low to moderate income in the southwestern U.S.
03/13/19 | By Nicholas Silbergeld