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SME Financing and the Financial Crisis: A Framework and Some Issues
Journal Title: ARGOMENTI 
Author/s: Gregory F. Udell 
Year:  2010 Issue: 28 Language: Italian 
Pages:  15 Pg. 5-19 FullText PDF:  518 KB
DOI:  10.3280/ARG2010-028001
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Studies of net job creation generally confirm the importance of the SME sector as an engine that can drive the economy out of a recession. The SME sector cannot perform this role without access to external finance. This article examines new paradigms that have expanded our understanding of how SME loans are underwritten and how underwriting changes during a macro financial shock. We also use these paradigms to examine two interesting issues related to SME financing during the current financial crisis: the behavior of foreign-owned banks particularly in developing economies and the efficacy of government guarantee programs.
Keywords: SME Financing, Lending Technologies, Guarantee programs.

Gregory F. Udell, SME Financing and the Financial Crisis: A Framework and Some Issues in "ARGOMENTI" 28/2010, pp. 5-19, DOI:10.3280/ARG2010-028001

   

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