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NOTE: Since 2009 the title of the International Journal of Entrepreneurship Education (IJEE) has been changed to the title above.  ISSN numbers: IJEE 1649-2269 and IRE 2009-2822

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ISSN Number: 2009-2822. Frequency: 4 Issues per year (online only)  

#1548 - The Role of Loan Commitment Terms in Credit Allocation on the UK Small Firms Loan Guarantee Scheme

IRE Vol 15: Issue 1, 2017 , Pages 15-28

Author(s): Marc Cowling, Cathy Matthews (Brighton Business School, University of Brighton, UK) and Weixi Liu (Management School, University of Bath, UK)

Abstract:
In this paper we provide empirical evidence concerning the nature of loan commitment contracts as reflected by individual loan contract parameters in influencing the size of bank commitments. Specifically, we consider how the quantitative allocation of credit, the loan amount, is affected or altered by changes to other components of the total loan package. By doing so we shed some more light on the types of real world trade-offs that credit constrained firms might face when approaching banks for funds, using the UK governments loan guarantee programme. Our results point at the importance of relationship lending in the UK.

Keywords: loan commitment contracts, credit allocation, loan amount, relationship lending

JEL Classifications: G21, L14, D45

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