Revenue and employment improved for small businesses since 2020, but performance largely lags prepandemic levels. Financing approval rates continued to trend lower than in years prior to the pandemic.

This series of regional profiles examines how measures of financial inclusion, credit use, and distress have changed since the onset of the pandemic, both overall and by neighborhood characteristics.

America’s smallest small businesses are nonemployer firms, and they make up 81 percent of small businesses in the U.S. This report provides data from the latest Small Business Credit Survey, highlighting this group's experiences before and during the COVID-19 pandemic.