ECONOMIC LETTER


Small Business Lending and the Paycheck Protection Program

The Paycheck Protection Program (PPP) and the PPP Liquidity Facility were launched early in the pandemic to help many small businesses survive. These programs encouraged banks to lend more extensively to small businesses over the first half of 2020. Since then, however, banks have reduced their exposure to these loans, leaving no significant changes in small business lending.


Interested?

If you are interested in this item and have some questions, feel free send an inquiry.

QR Code
On the Go?
Scan our QR code and use your phone to access our catalog.

Text FEDERALSF to 866-866-5545
Federal Reserve Bank of San Francisco is a proud member of

Henderson Chamber of Commerce

Click Here to Learn More