Library/Peer-reviewed journals
Section F
Credit guarantees, bank lending to small firms, and the capital that finances an acquisition.
7 records · summaries written from the abstract
Brown, J. D., & Earle, J. S. (2017)
Journal of Finance, 72(3), 1039-1080
Links all SBA loans and lenders to all US employers; identification from local availability of SBA-intensive lenders. Each million dollars of loans yields 3 to 3.5 jobs; taxpayer cost per job is $21,000 to $25,000. The abstract does not separate change-of-ownership loans from other uses of proceeds.
Sourcedoi:10.1111/jofi.12492217 citations (OpenAlex)
Bachas, N., Kim, O. S., & Yannelis, C. (2021)
Journal of Financial Economics, 139(3), 872-894
Uses notches in the SBA guarantee rate schedule and bunching. A one percentage point increase in guarantee generosity raises per-loan lending volume by $19,000. (Abstract source: EconPapers/RePEc.)
Sourcedoi:10.1016/j.jfineco.2020.08.008144 citations (OpenAlex)
Krishnan, K., Nandy, D. K., & Puri, M. (2015)
Evidence from a natural experiment. Review of Financial Studies, 28(6), 1768-1809
Interstate banking deregulation plus a regression discontinuity on SBA eligibility criteria. TFP rises after deregulation, more for financially constrained firms.
Sourcedoi:10.1093/rfs/hhu087255 citations (OpenAlex)
Craig, B. R., Jackson, W. E., & Thomson, J. B. (2007)
Journal of Small Business Management, 45(1), 116-132
Panel of SBA-guaranteed loans: positive, significant but economically small relationship between SBA lending in a local market and future per capita income growth.
Sourcedoi:10.1111/j.1540-627x.2007.00202.x146 citations (OpenAlex)
Higgins, M. J., Lacombe, D. J., Stenard, B. S., & Young, A. T. (2021)
Small Business Economics, 57(1), 23-45
Spatial econometrics on US counties: SBA lending per capita is associated with negative direct and spillover effects on income growth. Conflicts with F4. (Abstract source: Springer page.)
Sourcedoi:10.1007/s11187-019-00291-112 citations (OpenAlex)
Hackney, J. (2023)
Review of Finance, 27(1), 247-287
Areas with more SBA 7(a) lenders saw 2.2% more small business loan volume, 3.7% more small firm employment and lower default rates in the 2007 to 2009 crisis.
Sourcedoi:10.1093/rof/rfac00222 citations (OpenAlex)
Barrot, J.-N., Martin, T., Sauvagnat, J., & Vallée, B. (2024)
Review of Financial Studies, 37(8), 2315-2354
French SME loan guarantees in the financial crisis, border discontinuity design. Positive employment and earnings effects, but dampened reallocation of workers to more productive firms, reducing aggregate productivity.
Sourcedoi:10.1093/rfs/hhae01445 citations (OpenAlex)