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This study examines the economic impact of Small Business Administration (SBA) guaranteed lending activity on the 12 states comprising the Southeast region (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West...
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Does emergency credit prevent long-term financial distress? We study the causal effects of government-provided recovery … bankruptcy, increase employment and revenue, unlock private credit, and reduce delinquency. These effects, especially the … crowding-in of private credit, appear to reflect resolving uncertainty about repair. We do not find capital reallocation away …
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