This study analyzes the resilience and recovery dynamics of Colombian micro, small and medium enterprises (MSMEs) after the COVID-19 pandemic. Using firm-level survey data, we explore differences by sector, size, and ownership and assess the role of credit access in supporting the recovery. 

We find that credit access significantly improved firm outcomes, increasing the likelihood of workforce maintenance and growth and economic resilience and growth. Positive effects were driven by women-owned/led firms and SMEs, while microenterprises showed limited gains. The results underscore the importance of financial access and targeted policies to support vulnerable firms during systemic shocks.