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Racial Disparities in Access to Small Business Credit : Evidence from the Paycheck Protection Program

Howell, Sabrina T.; Kuchler, Theresa; Snitkof, David; … - National Bureau of Economic Research - 2021

We explore the sources of racial disparities in small business lending by studying the $806 billion Paycheck Protection Program (PPP), which was designed to support small business jobs during the COVID-19 pandemic. PPP loans were administered by private lenders but federally guaranteed, largely...

Persistent link: https://www.econbiz.de/10012660042

Large Banks and Small Firm Lending

Bord, Vitaly M. - 2018

We show that since 2007, there was a large and persistent shift in the composition of lenders to small firms. Large banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U.S.. However, healthy banks expanded their operations...

Persistent link: https://www.econbiz.de/10012480836

Bank Size and Lending Relationships in Japan

Uchida, Hirofumi - 2007

Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using U.S. data that smaller SMEs borrow from smaller banks and smaller banks...

Persistent link: https://www.econbiz.de/10012465650

Historical Financing of Small- and Medium-Sized Enterprises

Cull, Robert - 2005

We focus on the economies of the North Atlantic Core during the nineteenth and early twentieth centuries and find that an impressive variety of local financial institutions emerged to supply the needs of SMEs wherever there was sufficient demand for their services. Although these intermediaries...

Persistent link: https://www.econbiz.de/10012466977

Bankruptcy and Small Firms' Access to Credit

Berkowitz, Jeremy - 2002

In this paper, we investigate how personal bankruptcy law affects small firms' access to credit. When a firm is unincorporated, its debts are personal liabilities of the firm's owner, so that lending to the firm is legally equivalent to lending to its owner. If the firm fails, the owner has an...

Persistent link: https://www.econbiz.de/10012469703

Discrimination in the Small Business Credit Market

Blanchflower, David G. - 1998

This paper uses data from the 1993 National Survey of Small Business Finances to determine the extent to which minority-owned small businesses face constraints in the credit market beyond those faced by white-owned small businesses. First, we present qualitative evidence indicating that black-...

Persistent link: https://www.econbiz.de/10012471972

Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?

Bai, Yan - 2018

' saving and capital misallocation. We first document the features of the data in terms of firm dynamics and debt financing … loan. Using evidence on the firm size distribution and financing patterns, we estimate the model and find it can explain …

Persistent link: https://www.econbiz.de/10012453278

Stress Tests and Small Business Lending

Cortés, Kristle - 2018

Post-crisis stress tests have altered banks' credit supply to small business. Banks affected by stress tests reduce credit supply and raise interest rates on small business loans. Banks price the implied increase in capital requirements from stress tests where they have local knowledge, and exit...

Persistent link: https://www.econbiz.de/10012453349

Does Financing Spur Small Business Productivity? Evidence from a Natural Experiment

Krishnan, Karthik - 2014

We analyze how increased access to financing affects firm total factor productivity (TFP) by exploiting a natural … experiment following interstate banking deregulations which increased access to bank financing. We find that firms' TFP increases … financially constrained firms. Our results suggest that greater access to financing allows financially constrained firms to invest …

Persistent link: https://www.econbiz.de/10012458515

Financial Risk Capacity

Bigio, Saki - 2019

Financial crises are particularly severe and lengthy when banks fail to recapitalize after bearing large losses. We present a model that explains the slow recovery of bank capital and economic activity. Banks provide intermediation in markets with information asymmetries. Large equity losses...

Persistent link: https://www.econbiz.de/10012480505

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