The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy. Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step […]
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The last economic recession before the pandemic the Great Recession of 2007-09 sent unemployment rates up to 10% as of October 2009, and a full recovery took years.
While today's unemployment rates are significantly lower than the COVID-19 pandemic peak of 14.7% experienced in April 2020, the fear of job losses remains as workers stare down an uncertain economic future.