Governments are rolling out new loan programs to help local small businesses struggling for survival during the COVID-19 crisis. What will make these loan programs effective?
Lessons learned from the State Small Business Credit Initiative (SSBCI)* tell us:
Program Design Program design should reflect current economic realities and local capital needs. This implies that replicating programs designed for the Great Recession may not be right for the “Great Cessation” because the underlying economic effects are different.
