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Discussion Paper
Credit Checkup: A Look at the Financing Experiences of Small Businesses in Virginia, Washington, D.C., and North Carolina
There are about 6.3 million businesses with employees (or "employer firms") across the United States, and just over half a million of those firms are located in the Richmond Fed's Fifth District, which includes Maryland, the District of Columbia, Virginia, North Carolina, South Carolina, and most of West Virginia. Financing can play a critical role in the health of these businesses, and small business credit access is among the community development finance research topics that the Richmond Fed prioritizes to help support economic vitality in communities.
Discussion Paper
How Different Are Rural and Urban Small Businesses?
Small businesses play a big part in rural communities. In addition to serving local demand, businesses with fewer than 500 employees account for over half of rural employment. As part of the Richmond Fed's mission to strengthen the economy and our communities, we work to understand economic and business conditions in small towns and rural communities. This includes understanding how rural businesses in the Fifth District are faring and keeping a pulse on the financial health of rural small businesses. Using newly released data from the Small Business Credit Survey (SBCS), a national data ...
Discussion Paper
Hurricane Helene's Impact on Housing in Western North Carolina
Approximately six months ago, Hurricane Helene brought devastation to parts of the Fifth District, with communities in Western North Carolina1 (WNC) sustaining particularly severe damage. Today, communities are still recovering from Helene's impact — from profound loss of life to loss of property and critical infrastructure.Hurricanes can create unfavorable housing market conditions in affected areas, including damage to existing housing stock, reduction in housing supply, and deterioration of asset values. Prior to the storm, many WNC communities already exhibited signs of substantial ...