The COVID-19 Pandemic’s Effect on Small Business Credit Standing

The economic health of small businesses is crucial to catalyzing inclusive economic recovery in cities. Evidence on the pandemic’s negative impact on small business revenues have received attention, but the effect on credit standing has yet to be analyzed. An analysis of monthly small business delinquency and default data for eight cities provides a clearer picture of the pandemic’s impact on small business activity and the effectiveness of relief policies.

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ABOUT THE URBAN INSTITUTE’S COLLABORATION WITH JPMORGAN CHASE
The Urban Institute is collaborating with JPMorgan Chase to inform and catalyze a data-driven and inclusive economic recovery. The goals of the collaboration include generating cross-sector, place-based insights to guide local decision-makers, using data and evidence to help advise JPMorgan Chase on the firm’s philanthropic strategy, and conducting new research to advance the broader fields of policy, philanthropy, and practice. As one of several resources Urban is developing to catalyze an inclusive economic recovery, this work is designed to help local leaders assess key dimensions of credit for small businesses to inform appropriate and timely interventions.