Small business financing : survey evidence in West Texas
Wei He and H. Kent Baker
We investigate the financial sources of small firms through a survey of sample firms from West Texas. Evidence shows that the two most common start-up financing alternatives are personal savings and commercial bank loans. Commercial banks remain the most popular source of financing for present and future needs, followed by leasing companies and credit unions. Informal types of financing such as business credit cards, and trade credit are used in addition to lines of credit for transaction and working capital purposes. Firms typically review their financial performance monthly and use common cash balances as the primary financial tool.
Year of publication: |
2007
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Authors: | He, Wei ; Baker, H. Kent |
Published in: |
Journal of entrepreneurial finance : JEF ; official publication of The Academy of Entrepreneurial Finance. - Montrose, Calif, ISSN 1551-9570, ZDB-ID 26141723. - Vol. 12.2007, 1, p. 27-54
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