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Small-business financing after the financial crisis – lessons from the literature

Author

Listed:
  • David Wille
  • Adam Hoffer
  • Stephen Matteo Miller

Abstract

Purpose - The purpose of this paper is to examine the status of small-business lending following the recession. Design/methodology/approach - The authors survey the literature and analyze recent surveys of small-business lending. Findings - The results reinforce the importance of owner equity as a primary source of small-business financing. In addition, the authors find that small firms have been seeking and obtaining less capital since the 2008 financial crisis. Research limitations/implications - The findings about the main sources of small-business financing will be informative when formulating financial regulation. Social implications - The available evidence suggests that new regulation of the financial services industry may be restricting access to products that small-business owners rely on and may adversely affect small banks. Originality/value - The authors offer the most recent analysis of small-business financing, focusing on changes that may have been caused by the recession and major financial regulations.

Suggested Citation

  • David Wille & Adam Hoffer & Stephen Matteo Miller, 2017. "Small-business financing after the financial crisis – lessons from the literature," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 6(3), pages 315-339, November.
    • Handle: RePEc:eme:jepppp:jepp-d-17-00005
    DOI: 10.1108/JEPP-D-17-00005
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    Citations

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    Cited by:

    1. Sebastian Doerr, 2019. "Unintended side effects: stress tests, entrepreneurship, and innovation," BIS Working Papers 823, Bank for International Settlements.
    2. Giuseppe Arcuri & Nadine Levratto, 2020. "Early stage SME bankruptcy: does the local banking market matter?," Small Business Economics, Springer, vol. 54(2), pages 421-436, February.
    3. Giuseppe Arcuri & Nadine Levratto, 2017. "New firms’ bankruptcy: does local banking market matter?," EconomiX Working Papers 2017-31, University of Paris Nanterre, EconomiX.
    4. Madhav Regmi & Allen M. Featherstone & Cortney A. Cowley & Mykel R. Taylor, 2021. "Big Banks versus Agricultural Banks: Has Too‐Big‐To‐Fail Regulation Affected Efficiency and Scale Economies Measures?," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(3), pages 1164-1178, May.

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