Released: October 9, 2020
The Delaware County Commerce Center is partnering with the Federal Reserve on their 2020 Small Business Credit Survey, through the Philadelphia Branch.
The Small Business Credit Survey (SBCS), a national collaboration of the 12 Federal Reserve Banks, provides timely information on small business financing needs, decisions, and outcomes to policymakers, researchers, lenders, and service providers. The annual product garners significant attention, including media coverage by the Wall Street Journal, Washington Post, and Forbes. It has also been cited in reports by the Consumer Financial Protection Bureau, the U.S. Department of the Treasury, and the Federal Reserve Board of Governors.
Delaware County’s small business community is encouraged to participate. Small businesses are critically important to the economy and the survey will elevate their voices.
This year, the SBCS has a shorter window for data gathering and includes timely questions on CV-19 response programs, both grant and loan. The deadline to respond is October 31, 2020.
Federal Reserve does not release individual business response data, they only present data on an aggregate level.
If the survey gathers a certain number of responses, the Federal Reserve will provide the County with a dashboard that will be a useful tool in discussions with lenders and in partner programming for small businesses.
The survey can be found here: http://frb.co1.qualtrics.com/jfe/form/SV_aXW9acz1pbB4x7L?orgid=Del_CoPA&parentid=&reserve_bank=PHI