Boston, October 7, 2020 – The COVID-19 pandemic has been hyped, somewhat reasonably, as a force of nature invoking the die-back of millions of small businesses—and thereby inflicting untold harm on business lending financial institutions. But what is the reality of the damage inflicted by the pandemic on the economy in general and on its credit-providing lenders in particular? 

This report analyzes the lenders extending credit in the small-and-midsize-business market as well as the commercial and industrial market in North America. It assesses their loan portfolios, identifies the activities to which they are dedicating their human capital, and determines the impacts of the pandemic on their technology roadmaps. It is based on a survey of 20 FIs lending to these businesses, which Aite Group conducted in August and September 2020.

This 25-page Impact Report contains nine figures and one table. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.