stable finance. One efficient way to promote SME financing is through credit guarantee schemes, where the government … guarantees a portion (ratio) of a loan provided by a bank to an SME. This research provides a theoretical model and an empirical … analysis of factors that determine optimal credit guarantee ratio. The ratio should be able to fulfill the government's goal of …

of these enterprises is their difficulty in accessing finance from banks and other financial institutions. The Credit … is a credit guarantee program initiated by the Bangko Sentral ng Pilipinas that enables enterprises and cooperatives to …

This study examines the role of loan guarantees in lines of credit granted to small businesses. Since there is evidence … credit and that loan guarantees and collateral are to some extent substitutes in that loans guarantees are a close substitute …

opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution … with bank credit and to a diversification of corporate funding sources. Studying their ex-post performance, we find that …