In addition to the health impact, as well as the impact on the economic aspects and everything related to sales and jobs, the Covid-19 pandemic has had a major influence on the operational aspects of businesses, largely due to issues related to access to financing, which resulted in variations in overall business performance. The objective of this research was to analyze how the pandemic impacted the operations and access to finance of MSMEs and its influence on their performance. For this study, the case of Paraguayan MSMEs was taken, and a total of 360 managers and/or owners of this type of companies, belonging to the industrial, commercial and service sectors, participated in the study. The quantitative method was used through the application of a digital survey sent via email and messaging networks, during the first half of 2021. Quantitative data analysis was performed by applying tests such as Pearson's Chi-square and analysis of variance. The most relevant results (on a rating scale from 1 to 5) related to operations, indicate that companies were forced to modify their product and service offerings (3.47), in addition to lowering sales prices (3.31) and implementing other adaptation activities (3.21). Regarding access to financing, it was observed that 40.3% of the MSMEs participating in the study that have requested financing obtained it under the same conditions as the previous year, while 19.9% indicated that they obtained financing, but under worse conditions, and 36.4% have not been able to access credit. With regard to performance, significant differences were found among the MSMEs, taking into account the sector to which they belong. Differences in performance were observed among those offering higher quality products (industrial sector with 3.81), those with more efficient internal processes (services sector with 3.55), and those with more satisfied clients (industrial sector with 3.96). The results indicate that Paraguayan MSMEs were able to adapt and keep their businesses operating with a certain level of success during the crisis, despite the fact that many of them were unable to access sources of financing or did so under unfavorable conditions.