Connecticut on Monday launched a new loan program that aims to assist small businesses and nonprofits throughout the state.
The agreement is a new “public-private partnership that provides low-interest loans” to various organizations, with the goal of growing the two sectors in “low-income and historically underserved communities.”
The expansion of several government programs last year likely prevented hunger from rising despite the sudden economic downturn caused by the pandemic, a study showed.
The percentage of U.S. households that reported food insecurity was virtually unchanged in 2020 compared to the year prior despite the recession, according to a report from the Department of Agriculture’s Economic Research Service released Wednesday. More than 20.5 million Americans lost their jobs in April 2020 as state and local officials implemented strict restrictions on business activity to curb the spread of coronavirus, Labor Department data showed.
“This is huge news — it shows you how much of a buffer we had from an expanded safety net,” Urban Institute researcher Elaine Waxman told The New York Times. “There was no scenario in March of 2020 where I thought food insecurity would stay flat for the year. The fact that it did is extraordinary.”