A new report by Biz2Credit reveals that among small businesses who took Paycheck Protection Program (PPP) loans those in finance and retail had done well in recovering from the effects of the pandemic.
According to Biz2Credit Recovery Ranking for 2021 report businesses engaged in finance, retail, and real estate lead businesses in recovery showing a recovery rate above the 50-percentile mark. These businesses experienced the greatest strength of recovery from COVID-19 lockdowns. Because businesses in financial services and insurance had a high demand for expansion capital, but a low level of distress. Even though these businesses are rebounding financially, challenges, however, remain related to the supply chain, rather than consumer demand.