List of strategies adopted for rapid recovery from COVID-19 ??
Answers
As the situation surrounding COVID-19 evolves, small businesses and communities across the country will very quickly face liquidity challenges, job losses, and project stagnation. Credit will be tightening and small businesses will struggle to make payroll while communities will be forced to scale back or halt infrastructure development. Moreover, communities are already facing difficulties financing critical infrastructure such as health facilities, broadband networks, and testing centers to address local COVID-19 demands.
Banks will certainly play a major role in addressing this; however, banks will not be able to quickly loosen their credit standards. The bond market, much like during the great recession, is poised to assist but will need a catalyst effort to build investor interest.
Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic challenges facing small businesses and communities to put America securely on the path to recovery.