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Small business loans are not going proportionately to the hardest-hit areas, Fed study shows

May 6, 2020


States enduring the brunt of the coronavirus crisis are receiving a smaller proportion of emergency small business loans than some Mountain and Midwest states, according to analysis conducted by the Federal Reserve.

“In New York, the epicenter of the coronavirus in the United States, less than 20 percent of small businesses have been approved to receive PPP loans. In contrast, more than 55 percent of small businesses in Nebraska are expecting PPP funding,” wrote Haoyang Liu and Desi Volker, two economists at the Federal Reserve Bank of New York.

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