lenders who could make small loans at interest rates exceeding those allowed for banks under the normal usury laws. About two … ; small loans ; consumer credit ; usury laws …

-based funding opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on … bank credit conditions for issuer firms, both at the firm-bank and firm level. We compare new loans granted to issuer firms … bank loans of the same maturity than non-issuer firms, suggesting an improvement in their bargaining power with banks. In …

power with banks. Issuer firms also reduce the amount of used bank credit, expand their total and fixed assets, and raise … regulatory reform which allowed unlisted firms to issue minibonds. Using the Italian Credit Register, we compare new loans …

opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … maturity than non-issuer firms do, suggesting an improvement in their bargaining power with banks. In addition, issuer firms … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution …

Has information technology improved small businesses' credit access by hardening the information used in loan … increased substantially, distances at individual banks remain unchanged. Instead, average distance has increased because a small … lending by 10 percentage points. Our findings imply that small businesses continue to depend on local banks …

In this paper we analyze the access to credit of innovative firms on the price and non-price dimensions of bank lending … overdrawing. Our analysis reveals that banks trade off higher interest rates and lower collateral requirements for firms involved … in innovative processes. Further, innovative firms have a lower probability of being credit rationed than their non …

relationship lending play a larger role in loan pricing than the entrepreneur's age. Banks do not seem to discriminate older …

in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which … differences in the availability of credit to male- and female-owned firms. More specifically, female-owned firms are significantly … more likely to be credit constrained because they are more likely to be discouraged from applying for credit and more …

percent less cyclical than other local banks. The result is credit supply-side driven and especially strong for savings banks … on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs … credit demand-side factors. The public mandate is set by local governments and stipulates a deviation from strict profit …

We present a new approach for estimating small business equity returns. This approach applies the Merton (1974) credit … model to the returns on entrepreneurial business credit card debt securitizations and solves for the implied equity returns …