To read the full version of this content please select one of the options below:

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

David Wille (The Mercatus Center at George Mason University, Arlington, Virginia, USA)
Adam Hoffer (University of Wisconsin- La Crosse, La Crosse, Wisconsin, USA)
Stephen Matteo Miller (The Mercatus Center at George Mason University, Arlington, Virginia, USA)

Journal of Entrepreneurship and Public Policy

ISSN: 2045-2101

Article publication date: 6 November 2017

Downloads
6685

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.

Keywords

Acknowledgements

The authors would like to acknowledge Hester Peirce and Ben Klutsey for the authors’ help with this project. The authors are also thankful for research assistance from Elizabeth Martin and feedback from audience members at the Public Choice Society Meetings and the anonymous reviewers of this manuscript.

Citation

Wille, D., Hoffer, A. and Miller, S.M. (2017), "Small-business financing after the financial crisis – lessons from the literature", Journal of Entrepreneurship and Public Policy, Vol. 6 No. 3, pp. 315-339. https://doi.org/10.1108/JEPP-D-17-00005

Publisher

:

Emerald Publishing Limited

Copyright © 2017, Emerald Publishing Limited