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The importance of alternative debt for SMEs in Europe and it’s futures perspectives. To what extent can alternative debt instruments ease access to external finance for SMEs

d'Ursel de Bousies, Charles-Emmanuel
(2021)

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dUrseldeBousies_53281300_2021.pdf
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Details

Supervisors
Henrard, Luc
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion, à finalité spécialisée
Abstract
Following the 2008 financial crisis, major change happened on the corporate debt market. The crisis triggered a wave of regulation on the banking sector, while the ECB tried to counter the deteriorating credit market conditions. In this context, small and medium-sized enterprises face difficulties as their main source of external finance is under stress. At the same moment, the market see the rise of new instruments which … Alternative debt instruments are rising on the corporate lending landscape. However, those instruments still account for a small proportion of debt financing to SMEs. Having to compete in the same area as bank lending, it is interesting to see which place they could take in the future.