COVID-19
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![Perspectives from Main Street: COVID-19’s continued impact on low- to moderate-income communities [2020]](https://fedcommunities.org/wp-content/uploads/2021/03/mainstreetpersepctives.png?w=1024)
Perspectives from Main Street: COVID-19’s continued impact on low- to moderate-income communities [2020]
Throughout 2020, the Federal Reserve surveyed nonprofits, financial institutions, government agencies, and other community organizations to understand the effects of COVID-19 on low- to moderate-income communities and the entities serving them. Here’s what they found.
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Survey findings highlight CDFI adaptability despite COVID-19 uncertainty
From Jul 20–Aug 14, 2020, the Fed surveyed 229 community development financial institutions during COVID-19. Here’s how they responded.
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‘A Real Trying Time’: Community Lender Gets Much-Needed Dough to Cheesesteak Restaurant
Kansas City’s Steak’M Take’M needed help when the pandemic paralyzed the economy. A lender supporting minority-owned businesses provided PPP relief, made to order.
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‘A Fish with Very Little Water’: Businesses Deep in the Desert Qualify for PPP Loans with Help from Rural Lender
Germaine Simonson owns essential businesses in Arizona’s Navajo Nation. Parched for support, she turned to a rural lender to get through the pandemic dry spell.
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‘I Can’t Believe I Got a Real Person’: Small Bank Answers Businesses’ Cries for Help
PPP money has reached a range of businesses, but it didn’t come easily for many. An accounting firm in Los Angeles experienced the struggle on behalf of its clients—and firsthand.
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‘I Never Lost Hope’: Minority-Owned Eatery Gets Lifeline from Community Lender
Thanks to a PPP loan, San Francisco-based Tommy’s Mexican Restaurant has kept people working and margaritas pouring during the COVID-19 pandemic.
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Struggle for Access: Small lenders, small businesses, and the Paycheck Protection Program
What happens when a small business falls under the radar of the nation’s largest lenders during a pandemic?