During the COVID-19 pandemic, small businesses in San Francisco experienced closures and drops in sales, but despite these challenges, data from September 2019 to March 2021 reveal they were mostly able to pay their bills. Even in vulnerable sectors, delinquencies, defaults, and bankruptcies only marginally increased. Largely, these businesses remained afloat through federal stimulus payments, lay-offs or other cost-cutting measures, forbearance from creditors, and local relief programs. But preexisting inequities in business health for owners of color have continued through and will outlast the pandemic.
This fact sheet was corrected on June 18, 2021, to fix an error in the About the Credit Data box.