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来源类型Working Paper
规范类型报告
DOI10.3386/w29205
来源IDWorking Paper 29205
Why Did Small Business Fintech Lending Dry Up During March 2020?
Itzhak Ben-David; Mark J. Johnson; René M. Stulz
发表日期2021-09-06
出版年2021
语种英语
摘要With the onset of the COVID-19 crisis in March 2020, small business lending through fintech lenders collapsed. We explore the reasons for the market shutdown using detailed data about loan applications, offers, and take-up from a major small business fintech credit platform. We document that while the number of loan applications increased sharply early in March 2020, the supply of credit collapsed as online lenders dropped from the platform and the likelihood of applicants receiving loan offers fell precipitously. Our analysis shows that the drying up of the loan supply is most consistent with fintech lenders becoming financially constrained and losing their ability to fund new loans.
主题Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Corporate Finance ; COVID-19
URLhttps://www.nber.org/papers/w29205
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586878
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Itzhak Ben-David,Mark J. Johnson,René M. Stulz. Why Did Small Business Fintech Lending Dry Up During March 2020?. 2021.
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