Plus: How experts reckon with COVID-19’s impact on GDP and a conversation with a banker who’s giving small business loans.
With millions of sudden job losses and an unprecedented economic shutdown, forecasting GDP is different than usual this quarter.
The long lines and empty shelves at grocery stores across the country have tested America’s food supply chain. Smaller, independent store supply chains are proving more resilient.
“For every loan we made, I had another one in the pipeline,” said Laurie Stewart, CEO of Sound Community Bank in Seattle.
Most of its business is with department stores, many of which are closed. “It’s been pretty much a disaster,” President Ken Natori says.
Lenders are tightening credit standards as funding dries up.
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