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Did high leverage render small businesses vulnerable to the COVID-19 shock?

Bräuning, Falk; Fillat Comenge, José Luis; Wang, J. … - 2022 - This version: July 2022

leverage faced tighter constraints in accessing bank credit after the COVID-19 outbreak in spring 2020. Specifically, SMEs with … higher pre-COVID leverage obtained a smaller volume of new loans and had to pay a higher spread on them during the pandemic … were not able to substitute to other sources of debt financing and thus experienced more of a reduction in total debt as …

Persistent link: https://www.econbiz.de/10013414903

The great recession and bank lending to small businesses

Montoriol-Garriga, Judit; Wang, J. Christina - 2011

This paper investigates whether small firms have experienced worse tightening of credit conditions during the Great Recession than large firms. To structure the empirical analysis, the paper first develops a simple model of bank loan pricing that derives both the interest rates on loans actually...

Persistent link: https://www.econbiz.de/10009500930

The value to banks of small business lending

Holod, Dmytro; Peek, Joe - 2013 - This version: August 15, 2013

By estimating the market premium placed on the small business loan portfolios of banking organizations, this study provides direct evidence on the value to banks arising from relationship lending. Using data from the small business loan survey contained in the June bank call reports, we find...

Persistent link: https://www.econbiz.de/10009792162

Bank incentives and the effect of the paycheck protection program

Joaquim, Gustavo; Netto, Felipe - 2021 - This version: October 2021

We assess the role of banks in the Paycheck Protection Program (PPP), a large and unprecedented smallbusiness support program instituted as a response to the COVID-19 crisis in the United States. In 2020, the PPP administered more than $525 billion in loans and grants to small businesses through...

Persistent link: https://www.econbiz.de/10012705071

The Main Street Lending Program : who borrowed and how have they benefited?

Wang, J. Christina - 2022 - This version: September 2022

The Main Street Lending Program (MSLP) was established by the Federal Reserve to supply credit to small and, especially, midsize businesses so they could weather COVID-19-induced disruptions. This study uses Dun & Bradstreet (D&B) data on the financial condition and overall viability of firms to...

Persistent link: https://www.econbiz.de/10013474029

Relationship lending : that ship has not sailed for community banks

Holod, Dmytro; Peek, Joe; Torna, Gökhan - 2024 - This version: April 2024

This study provides direct evidence of the value to banks arising from relationship lending by estimating the market premium placed on banking organizations' small business loan portfolios. Using data from the small business loan survey contained in the June bank Call Reports, we find that small...

Persistent link: https://www.econbiz.de/10014529121