The pandemic has had more impact on small business lending than probably any other vertical. While the PPP enabled many lenders to continue to lend and therefore stay in business that is now history. What the pandemic also did was that it demonstrated how robust lenders underwriting models were. This crisis has not effected all lenders equally with some lenders coming through this period in decent shape.
These are challenging times, particularly for lenders. There are no risk models that can predict what might happen not just over the next year but even over the next month. While every lending verticals is being impacted the effects are not being felt uniformly.