Credit and new entrepreneurs:
Saved in:
| Other Authors: | |
|---|---|
| Format: | Book |
| Language: | German |
| Published: |
Baden-Baden
Nomos-Verl.-Ges.
1998
|
| Edition: | 1. Aufl. |
| Series: | Schriften des Institut für Finanzdienstleistungen e.V.
Bd. 3 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 204 - 209 |
| Physical Description: | 209 S. |
| ISBN: | 3789057665 |
Staff View
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| adam_text | Table of Contents
Introduction
Executive Summary 17
Udo Reifner, Jan Evers
1. Purpose *
2. Summary of findings ^
3. Conclusion ^
Part I.: Small business and the social economy 23
1. Introducing Small Enterprises z
Ja« Evers
1.1. Importance and weaknesses 23
1.2. Definitions: micro enterprises, small enterprises
and small and medium-sized enterprises 25
1.3. Small enterprises and the social economy ^
1.4. The social economy in numbers
2. New Businesses, Funding Requirements and the Cost of Assistance 30
Benolt Granger
2.1. The job-creating potential of new businesses over a period of five years 30
2.1.1. Geographical breakdown 30
2.1.2. Overall market 30
2.1.3. Funding requirements
2.2. The cost of assistance/aid to creation/post-creation follow-up
(Illustrated by the example of the Nord-Pas de Calais region) 31
2.2.1. Comprehensive assistance 31
2.2.2. Follow-up 32
2.2.3. The cost of each function ¦ yL
2.2 A. The cost of funding decisions 32
2.2.5. Conclusion: Public and private aid should be concentrated
and co-ordinated 33
Part II.: Financial problems of new and small businesses ^
1. Introduction 35
Jan Evers
6
2. Informal -Sector Financing of the creation and operation of Micro-Enterprises
in Brazzaville - Experiences from Kongo 39
Centre de Recherche et d Etudes en Monnaie BAnque et Finances (CREMBF)
2.1. Introduction 39
2.2. The survey and its methodology 39
2.3. Key features of micro-enterprises and the informal
financial sector 40
2.3.1.Micro-enterprises in Brazzaville 40
2.3.2. The informal financial system 41
2.3.3. The relationship between the informal financial sector
and micro-enterprises 41
2.4. Profiles of micro-entrepreneurs by sector 42
2.4.1. Breakdown of the population by background
and sector of activity 42
2.4.2. Why micro-enterprises are created 43
2.5. Current methods of micro-enterprise financing 44
2.5.1.Micro-enterprise financing: initial investment 45
2.5.2.Micro-enterprise financing: working capital 46
2.6. Conclusion 47
3. Experiences from Germany and the United Kingdom 49
Udo Reifner, Jan Evers
3.1. Equity versus Credit? 49
3.2. Lack of security 50
3.3. Cash-flow problems 51
3.4. Transaction costs versus loan size 52
4. Usury and the Failings of the Lending Market - Experiences from Italy 55
Pasquale Busa
4.1. Introduction 55
4.2. Who are the usurers? 56
4.3. Why resort to usury? 57
4.4. The anomalies of legitimate lending 58
4.4.1. The high degree of discretion over the rates
of interest charged 59
4.4.2. The lack of transparency in customer management 59
4.4.3.The services offered 59
4.5. System of controls 60
5. Households and small Enterprises - Experiences from Greece 62
Taxation and bank loaning dimensions influencing the development or limitation
of small and micro enterprises in Greece
Sotirios Chtouris
1
6. Learning with Dutch Bankers about Small-Scale Enterprises 65
Dorine Putman
6.1. Introduction 65
6.2. Definition of target group 65
6.3. Facilities and strategies for start-ups 66
6.4. State guaranteed schemes 67
6.5. Screening the client 67
6.6. Collaboration between banks and other institutions 68
6.7. Triodos Bank 69
6.8. SEON Foundation 69
7. The Problems of Credit Access for SME in France and in Europe 71
Madeleine Erbs
7.1. Introduction 71
7.2. Enterprises 72
7.2.1. Characteristics of the enterprise population 72
7.2.2. Disparate population 72
7.3. Dynamism of the enterprise population 73
7.3.1. Small and micro enterprises as a source of job creation 73
7.3.2. Constant renewal of the enterprise population
in order to combat its high death rate 73
7.3.3.Dynamic management to ensure survival lacks inputs 74
7.4. Dependence of micro and small firms on the banking system 74
7.4.1. Financing of firms needs 74
7.4.2. Causes of business failure 74
7.5. The financial system 76
7.5.1. Inappropriate bank strategies 76
7.5.1.1. High bank transaction costs
for small-enterprise lending do not
permit investment in long-term development 76
7.5.1.2. Increasing emphasis on bank services 76
7.6. Unsuitability of financial products available 76
7.6.1. Credit to small business still with a short-term focus 76
7.6.2. Equity capital products are virtually non-existent 77
7.7. Narrowness of banks margins and loan risk 77
7.8. Inadequate guarantee systems 78
7.8.1. Excessive recourse to personal guarantees 78
7.8.2. Over-restricted guarantee funds 78
7.9. Unreliability of financial information 78
7.9.1.Ambiguouspositionofbanks 78
7.9.2. Insufficient training of entrepreneurs 79
7.10. Poor distribution of public and community aid 79
7.11. Inaccessible financial markets 79
8
Part III.: The methodology of financial institutions lending to small enterprices 81
1. Introduction 81
Jan Evers
1.1. Local banking 81
1.2. Alternative banking 82
1.3. Public banking 82
1.4. Traditional banking 83
2. Local Finance for Local Entrepreneurs: Systems of Interaction
and Mediation between Small and Micro Enterprises and the Banking Sector 85
Hans Dieter Seibel
2.1. Summary 85
2.2. The lack of viable and sustainable local financial services:
a core problem of small and micro-enterprises 86
2.2.1. The issue of start-up finance for new enterprises 87
2.3. The conventional policy framework: a systems perspective 88
2.4. Local finance for local entrepreneur through financial systems
development strategies 88
2.5. The institutional infrastructure of local finance 90
2.6. Local finance for local entrepreneurs through institutional
adjustment strategies 92
2.6.1. Formal finance and the institutional adaptation strategy 94
2.6.2.Non-formal finance and the institutional enhancements strategy 95
2.6.3. Formal and non-formal finance and the linkage strategy 98
2.6.4. The infrastructural innovation strategy 99
2.7. Local finance for local entrepreneurs through supportive
instrumental strategies 100
2.8. Recommendations 102
3. Alternative Banking - Financing Systems for Associations
and Co-Operatives in Belgium 103
Pascal H. Gregoire
3.1. The problems of financing the voluntary sector 103
3.2. Belgian local savings and solidarity-based initiatives - a typology 104
3.2.1.The organisation of voluntary or associative savings 104
3.2.2.Rotating savings and credit associations 105
3.2.3.Financing co-operatives 105
3.2.4. The ethical interface between associative savings groups,
rotating savings and credit associations, financing
co-operatives and traditional savings banks 106
3.3. Local, solidarity-based financial intermediaries (examples) 106
3.3.1. Savings and rotating credit associations - the example
of Netwerk Vlaanderen 106
9
3.3.1.1. Netwerk Vlaanderen: a brief description 106
3.3.1.2. Krekelsparen (the cicada system of savings) 106
3.3.1.3. Financial support 107
3.3.1.4. Netwerk s sources of income 107
3.3.1.5. Netwerk Vlaanderen s activities 108
3.3.1.6. Activities undertaken in collaboration with
the ASLK savings bank 108
3.3.2.Financing co-operatives: the example of Credal (alternative credit) 109
3.3.2.1. Objectives 1°9
3.3.2.2. Activities 109
3.3.2.3. Facts and figures (31.12.93) HO
3.3.2.4. Further information on the organisation of Credal 110
3.3.2.5. Relations with savers 11°
3.3.3. The Reseau Financement Alternatif (alternative financing network),
non-profit association 110
3.3.3.1. Background 11°
3.3.3.2. Objectives HI
3.3.3.3. The approach adopted - Cigale savings 111
3.3.3.4. Development of the network 112
3.3.3.5. Other Cigale accounts 112
3.3.4. Triodos: solidarity-based development bank 112
3.4. Lenders for social purposes and the public authorities:
the social economy partnership 113
3.4.1. Basic principle 113
3.4.2. Practicalities 113
3.5. Common characteristics of alternative financing organisations 114
3.5.1.Origins 114
3.5.2.General principles 114
3.5.3. Social justification 114
3.5.4. Social profitability 115
3.5.5. Partnership 115
3.5.6.Proximity 115
3.5.7.Financial resources 115
3.5.8. The information and credibility gaps 116
3.5.9. Supplementary activities 116
3.5.10. Managing growth and financial assets 116
3.5.11. Another approach 117
3.6. General characteristics of solidarity-based projects seeking finance 117
3.6.1. Similarities 118
3.6.2. The ethical use of deposits by banks US
3.6.3. Acquiring know-how 118
3.6.4. What motivates ethical savers? 119
3.7. Alternative financing equals ethical financing? U9
3.8. Future issues 119
4. Traditional Banking and Evaluating Risk for Lending
to Small Businesses and Start-Ups 121
Udo Reifner, Jan Evers
10
4.1. The traditional approach: lending on a credit history 121
4.1.1. Index of recent payment experiences 121
4.1.2. Years in business 122
4.1.3.Net worth 122
4.1.4. Credit rating 122
4.1.5. Legal structure 122
4.1.6. Suits, liens, judgments 123
4.1.7. Industry risk 123
4.1.8. Regional economy 123
4.2. Recent developments in mainstream banking:
small business lending as a form of consumer lending 124
Part IV.: Overcoming obstacles to small-firm financing:
instruments and practical examples for solution 127
1. Introduction 127
Udo Reifner, Jan Evers
1.1. Different support systems: an overview 127
1.1.1. Is there a basis for comparison? 127
1.1.2. Level of support related to the main problems 131
1.1.3. Public versus private support ? 131
1.2. Support aiming to improve the situation via the banking system 132
1.2.1. Refinancing bank s small-business-loans 133
1.2.1.1. Refinancing and loan subsidies 133
1.2.1.2. Direct securitisation of small business loans 134
1.2.2. State guarantees 135
1.2.2.1. Reduced transaction costs through intermediaries 136
1.3. Direct support for SMEs 137
1.3.1. Subsidised interest rates 137
1.3.2.Redemption period 137
1.3.3. Cash flow support 138
1.3.4. Consultancy 138
1.3.5. Labour costs 139
1.3.6. Low-cost work space 140
1.3.7.Training 140
1.3.8.Tax relief 141
1.4. Summary of SME support 141
2. The Ethical Bank: a Non-Profit Bank Serving the Non-Profit Economy 143
3. Systems of Intermediation and Interaction between the Small
and Micro Enterprise Sector and the Banking Sector -
the Example of the Hatton National Bank Limited (HNB) 146
Dharma Wijesundera
11
3.1. Hatton National Bank Limited 146
3.2. HNB s involvement with small and micro enterprises 146
3.3. The inherent obstacles of rural financing addressed by barefoot banking 146
3.4. Barefoot banking and its novel methods of overcoming these constraints 147
3.4.1. Assistance of non-governmental organisations (NGOs) 149
3.5. The salient features of the scheme which bestow upon it success
in rural financing 150
4. The Bank for Socio-Economic Initiatives (BISE) 151
Nathalie Bolgert
4.1. Idea and creation of BISE 151
4.2. First steps and innovations 151
4.3. Development towards global banking for SMEs 152
4.4. The big dilemma: mission or commercialisation 153
5. Financing Women s Micro Enterprises in Europe:
A Recommended Funding Scheme 155
Patricia Mahot
5.1. Introduction 15 5
5.2. Recommendations for a financial scheme aimed
at women entrepreneurs in Europe 155
5.2.1.The woman entrepreneur savings account 156
5.2.1.1. Description 156
5.2.2. The woman entrepreneur savings loan 157
5.2.2.1. Endorsement 157
5.2.3. European Loan Guarantee Fund for women entrepreneurs 158
5.3. Conclusion 160
6. Instruments of Social and Economic Intervention for Jobs of Quality
in Quantity - Examples by the Confederation of National
Trade Unions, Quebec 161
Leopold Beaulieu
6.1. Developing a capacity for initiative 161
6.2. Instruments of social and economic intervention for jobs
of quality in quantity 161
6.2.1. A co-operative that became a mutual insurance group 161
6.2.2. Savings and credit co-operatives based on the work place 162
6.2.3. Supporting co-operative initiatives 162
6.2.4. The Consultation Group for the Protection and Creation of Jobs 162
6.2.5. The Batirente Fund, the Registered Retirement Savings Plan
(RRSP) of the CSN 163
6.3. Instruments controlled by the workers 163
6.3.1. Contributing more to this effort - a capital risks fund 163
6.4. For a progressive strategy centred on employment 164
12
6.5. Fundamental objectives remain the same 165
7. The Experience of the RAF AD Foundation in Geneva 166
RAF AD / Fernand Vincent
7.1. The RAF AD Guarantee Fund 166
7.2. RAFAD s relations with Southern banks 166
7.3. Defaults in repayment 166
7.4. Main lessons to be drawn from RAF AD s experience 168
7.5. Main difficulties encountered by the Foundation 168
7.6. Experiences of other organisations working with bank guarantees 168
8. From CRA to Community Investment Enterpreneurship: National Policy-
Making and the Decentralisation of Financial Negotiation and Investment 170
Neal Richman
8.1. Introduction 170
8.2. The history of the Community Reinvestment Act 171
8.3. Institutional implementation of the CRA 172
8.4. Community reinvestment: the case of the Vernon-Central area
of South Los Angeles 173
8.4.1. Development deal-maker: Concerned Citizens
of South Central Los Angeles 175
8.4.2. Advocacy/watchdog organisations: communities for
accountable reinvestment 177
8.4.3. Alternative lending institution: the South Central Federal
People s Credit Union 178
8.5. Conclusion 179
9. The Cigale Project 181
Johann Hosselar
9.1. The Cigale project: generating social returns 181
9.1.1.CGER 181
9.1.1.1. The Cigale project 181
9.1.2. The originality of the Cigale project 181
9.1.3. Operation 182
9.1.3.1. Products 182
9.1.3.2. Financial support and solidarity 182
9.1.3.3. Transparency 182
9.1.3.4. Performance 182
9.2. The Cigale project: distributing financial support and maximising
the social returns 183
9.2.l.Credal s aims 183
9.2.2. Types of loan 183
9.2.3. Loan applications are processed in three stages 184
9.2.4. What is alternative lending? 185
13
10. The German System of Credit Guarantee Companies 187
Jutta Meinberg
10.1. Legal background 187
10.2. Technical terms 187
10.3. Need for co-operation and typical clients 188
10.4. Size of guarantees 188
10.5. Subsidy through counter-guarantees 188
10.6. Guarantee losses 189
10.7. Latest performance 189
10.8. Future prospects 189
1 l.Shorebank Corporation: A Private Sector Banking Initiative
to Renew Distressed Communities 190
Joan Shapiro
11.1. Executive summary 190
11.2. The Shorebank Corporation: An Introduction 191
11.3. Summary History of Shorebank Corporation 191
11.4. The South Shore Neighbourhood: From Affluence to Disinvestment 192
11.5. Neighbourhood Reinvestment: From Theory to Practice 194
11.5.1. Developing the Theory 195
11.5.2. Bank holding company: Engine to drive renewal 195
11.6. The Results: Twenty-Three Years of Targeted
Neighbourhood Development 197
11.6.1. Development Loans and Development Deposits8 1 198
11.6.2.Non-bank subsidiaries 199
11.7. The Lessons: Banks and Community Renewal 200
11.8. Chicago Expansion: Adapting the Model beyond South Shore 201
11.9. The Future: Examining Replicability or, Can there be more South
Shore Banks? 202
References 204
14
|
| adam_txt |
Table of Contents
Introduction
Executive Summary 17
Udo Reifner, Jan Evers
1. Purpose *
2. Summary of findings ^
3. Conclusion ^
Part I.: Small business and the social economy 23
1. Introducing Small Enterprises z
Ja« Evers
1.1. Importance and weaknesses 23
1.2. Definitions: micro enterprises, small enterprises
and small and medium-sized enterprises 25
1.3. Small enterprises and the social economy ^
1.4. The social economy in numbers
2. New Businesses, Funding Requirements and the Cost of Assistance 30
Benolt Granger
2.1. The job-creating potential of new businesses over a period of five years 30
2.1.1. Geographical breakdown 30
2.1.2. Overall market 30
2.1.3. Funding requirements
2.2. The cost of assistance/aid to creation/post-creation follow-up
(Illustrated by the example of the Nord-Pas de Calais region) 31
2.2.1. Comprehensive assistance 31
2.2.2. Follow-up 32
2.2.3. The cost of each function ¦ yL
2.2 A. The cost of funding decisions 32
2.2.5. Conclusion: Public and private aid should be concentrated
and co-ordinated 33
Part II.: Financial problems of new and small businesses ^
1. Introduction 35
Jan Evers
6
2. Informal -Sector Financing of the creation and operation of Micro-Enterprises
in Brazzaville - Experiences from Kongo 39
Centre de Recherche et d'Etudes en Monnaie BAnque et Finances (CREMBF)
2.1. Introduction 39
2.2. The survey and its methodology 39
2.3. Key features of micro-enterprises and the informal
financial sector 40
2.3.1.Micro-enterprises in Brazzaville 40
2.3.2. The informal financial system 41
2.3.3. The relationship between the informal financial sector
and micro-enterprises 41
2.4. Profiles of micro-entrepreneurs by sector 42
2.4.1. Breakdown of the population by background
and sector of activity 42
2.4.2. Why micro-enterprises are created 43
2.5. Current methods of micro-enterprise financing 44
2.5.1.Micro-enterprise financing: initial investment 45
2.5.2.Micro-enterprise financing: working capital 46
2.6. Conclusion 47
3. Experiences from Germany and the United Kingdom 49
Udo Reifner, Jan Evers
3.1. Equity versus Credit? 49
3.2. Lack of security 50
3.3. Cash-flow problems 51
3.4. Transaction costs versus loan size 52
4. Usury and the Failings of the Lending Market - Experiences from Italy 55
Pasquale Busa
4.1. Introduction 55
4.2. Who are the usurers? 56
4.3. Why resort to usury? 57
4.4. The anomalies of legitimate lending 58
4.4.1. The high degree of discretion over the rates
of interest charged 59
4.4.2. The lack of transparency in customer management 59
4.4.3.The services offered 59
4.5. System of controls 60
5. Households and small Enterprises - Experiences from Greece 62
Taxation and bank loaning dimensions influencing the development or limitation
of small and micro enterprises in Greece
Sotirios Chtouris
1
6. Learning with Dutch Bankers about Small-Scale Enterprises 65
Dorine Putman
6.1. Introduction 65
6.2. Definition of target group 65
6.3. Facilities and strategies for start-ups 66
6.4. State guaranteed schemes 67
6.5. Screening the client 67
6.6. Collaboration between banks and other institutions 68
6.7. Triodos Bank 69
6.8. SEON Foundation 69
7. The Problems of Credit Access for SME in France and in Europe 71
Madeleine Erbs
7.1. Introduction 71
7.2. Enterprises 72
7.2.1. Characteristics of the enterprise population 72
7.2.2. Disparate population 72
7.3. Dynamism of the enterprise population 73
7.3.1. Small and micro enterprises as a source of job creation 73
7.3.2. Constant renewal of the enterprise population
in order to combat its high death rate 73
7.3.3.Dynamic management to ensure survival lacks inputs 74
7.4. Dependence of micro and small firms on the banking system 74
7.4.1. Financing of firms' needs 74
7.4.2. Causes of business failure 74
7.5. The financial system 76
7.5.1. Inappropriate bank strategies 76
7.5.1.1. High bank transaction costs
for small-enterprise lending do not
permit investment in long-term development 76
7.5.1.2. Increasing emphasis on bank services 76
7.6. Unsuitability of financial products available 76
7.6.1. Credit to small business still with a short-term focus 76
7.6.2. Equity capital products are virtually non-existent 77
7.7. Narrowness of banks' margins and loan risk 77
7.8. Inadequate guarantee systems 78
7.8.1. Excessive recourse to personal guarantees 78
7.8.2. Over-restricted guarantee funds 78
7.9. Unreliability of financial information 78
7.9.1.Ambiguouspositionofbanks 78
7.9.2. Insufficient training of entrepreneurs 79
7.10. Poor distribution of public and community aid 79
7.11. Inaccessible financial markets 79
8
Part III.: The methodology of financial institutions lending to small enterprices 81
1. Introduction 81
Jan Evers
1.1. Local banking 81
1.2. Alternative banking 82
1.3. Public banking 82
1.4. Traditional banking 83
2. Local Finance for Local Entrepreneurs: Systems of Interaction
and Mediation between Small and Micro Enterprises and the Banking Sector 85
Hans Dieter Seibel
2.1. Summary 85
2.2. The lack of viable and sustainable local financial services:
a core problem of small and micro-enterprises 86
2.2.1. The issue of start-up finance for new enterprises 87
2.3. The conventional policy framework: a systems perspective 88
2.4. Local finance for local entrepreneur through financial systems
development strategies 88
2.5. The institutional infrastructure of local finance 90
2.6. Local finance for local entrepreneurs through institutional
adjustment strategies 92
2.6.1. Formal finance and the institutional adaptation strategy 94
2.6.2.Non-formal finance and the institutional enhancements strategy 95
2.6.3. Formal and non-formal finance and the linkage strategy 98
2.6.4. The infrastructural innovation strategy 99
2.7. Local finance for local entrepreneurs through supportive
instrumental strategies 100
2.8. Recommendations 102
3. Alternative Banking - Financing Systems for Associations
and Co-Operatives in Belgium 103
Pascal H. Gregoire
3.1. The problems of financing the voluntary sector 103
3.2. Belgian local savings and solidarity-based initiatives - a typology 104
3.2.1.The organisation of voluntary or "associative" savings 104
3.2.2.Rotating savings and credit associations 105
3.2.3.Financing co-operatives 105
3.2.4. The ethical interface between associative savings groups,
rotating savings and credit associations, financing
co-operatives and traditional savings banks 106
3.3. Local, solidarity-based financial intermediaries (examples) 106
3.3.1. Savings and rotating credit associations - the example
of Netwerk Vlaanderen 106
9
3.3.1.1. Netwerk Vlaanderen: a brief description 106
3.3.1.2. Krekelsparen (the "cicada" system of savings) 106
3.3.1.3. Financial support 107
3.3.1.4. Netwerk's sources of income 107
3.3.1.5. Netwerk Vlaanderen's activities 108
3.3.1.6. Activities undertaken in collaboration with
the ASLK savings bank 108
3.3.2.Financing co-operatives: the example of Credal (alternative credit) 109
3.3.2.1. Objectives 1°9
3.3.2.2. Activities 109
3.3.2.3. Facts and figures (31.12.93) HO
3.3.2.4. Further information on the organisation of Credal 110
3.3.2.5. Relations with savers 11°
3.3.3. The Reseau Financement Alternatif (alternative financing network),
non-profit association 110
3.3.3.1. Background 11°
3.3.3.2. Objectives HI
3.3.3.3. The approach adopted - Cigale savings 111
3.3.3.4. Development of the network 112
3.3.3.5. Other Cigale accounts 112
3.3.4. Triodos: solidarity-based development bank 112
3.4. Lenders for social purposes and the public authorities:
the social economy partnership 113
3.4.1. Basic principle 113
3.4.2. Practicalities 113
3.5. Common characteristics of alternative financing organisations 114
3.5.1.Origins 114
3.5.2.General principles 114
3.5.3. Social justification 114
3.5.4. Social profitability 115
3.5.5. Partnership 115
3.5.6.Proximity 115
3.5.7.Financial resources 115
3.5.8. The information and credibility gaps 116
3.5.9. Supplementary activities 116
3.5.10. Managing growth and financial assets 116
3.5.11. Another approach 117
3.6. General characteristics of solidarity-based projects seeking finance 117
3.6.1. Similarities 118
3.6.2. The ethical use of deposits by banks US
3.6.3. Acquiring know-how 118
3.6.4. What motivates ethical savers? 119
3.7. Alternative financing equals ethical financing? U9
3.8. Future issues 119
4. Traditional Banking and Evaluating Risk for Lending
to Small Businesses and Start-Ups 121
Udo Reifner, Jan Evers
10
4.1. The traditional approach: lending on a credit history 121
4.1.1. Index of recent payment experiences 121
4.1.2. Years in business 122
4.1.3.Net worth 122
4.1.4. Credit rating 122
4.1.5. Legal structure 122
4.1.6. Suits, liens, judgments 123
4.1.7. Industry risk 123
4.1.8. Regional economy 123
4.2. Recent developments in mainstream banking:
small business lending as a form of consumer lending 124
Part IV.: Overcoming obstacles to small-firm financing:
instruments and practical examples for solution 127
1. Introduction 127
Udo Reifner, Jan Evers
1.1. Different support systems: an overview 127
1.1.1. Is there a basis for comparison? 127
1.1.2. Level of support related to the main problems 131
1.1.3. Public versus private support ? 131
1.2. Support aiming to improve the situation via the banking system 132
1.2.1. Refinancing bank's small-business-loans 133
1.2.1.1. Refinancing and loan subsidies 133
1.2.1.2. Direct securitisation of small business loans 134
1.2.2. State guarantees 135
1.2.2.1. Reduced transaction costs through intermediaries 136
1.3. Direct support for SMEs 137
1.3.1. Subsidised interest rates 137
1.3.2.Redemption period 137
1.3.3. Cash flow support 138
1.3.4. Consultancy 138
1.3.5. Labour costs 139
1.3.6. Low-cost work space 140
1.3.7.Training 140
1.3.8.Tax relief 141
1.4. Summary of SME support 141
2. The Ethical Bank: a Non-Profit Bank Serving the Non-Profit Economy 143
3. Systems of Intermediation and Interaction between the Small
and Micro Enterprise Sector and the Banking Sector -
the Example of the Hatton National Bank Limited (HNB) 146
Dharma Wijesundera
11
3.1. Hatton National Bank Limited 146
3.2. HNB's involvement with small and micro enterprises 146
3.3. The inherent obstacles of rural financing addressed by barefoot banking 146
3.4. Barefoot banking and its novel methods of overcoming these constraints 147
3.4.1. Assistance of non-governmental organisations (NGOs) 149
3.5. The salient features of the scheme which bestow upon it success
in rural financing 150
4. The Bank for Socio-Economic Initiatives (BISE) 151
Nathalie Bolgert
4.1. Idea and creation of BISE 151
4.2. First steps and innovations 151
4.3. Development towards global banking for SMEs 152
4.4. The big dilemma: "mission" or "commercialisation" 153
5. Financing Women's Micro Enterprises in Europe:
A Recommended Funding Scheme 155
Patricia Mahot
5.1. Introduction 15 5
5.2. Recommendations for a financial scheme aimed
at women entrepreneurs in Europe 155
5.2.1.The woman entrepreneur savings account 156
5.2.1.1. Description 156
5.2.2. The woman entrepreneur savings loan 157
5.2.2.1. Endorsement 157
5.2.3. European Loan Guarantee Fund for women entrepreneurs 158
5.3. Conclusion 160
6. Instruments of Social and Economic Intervention for Jobs of Quality
in Quantity - Examples by the Confederation of National
Trade Unions, Quebec 161
Leopold Beaulieu
6.1. Developing a capacity for initiative 161
6.2. Instruments of social and economic intervention for jobs
of quality in quantity 161
6.2.1. A co-operative that became a mutual insurance group 161
6.2.2. Savings and credit co-operatives based on the work place 162
6.2.3. Supporting co-operative initiatives 162
6.2.4. The Consultation Group for the Protection and Creation of Jobs 162
6.2.5. The Batirente Fund, the Registered Retirement Savings Plan
(RRSP) of the CSN 163
6.3. Instruments controlled by the workers 163
6.3.1. Contributing more to this effort - a capital risks fund 163
6.4. For a progressive strategy centred on employment 164
12
6.5. Fundamental objectives remain the same 165
7. The Experience of the RAF AD Foundation in Geneva 166
RAF AD / Fernand Vincent
7.1. The RAF AD Guarantee Fund 166
7.2. RAFAD's relations with Southern banks 166
7.3. Defaults in repayment 166
7.4. Main lessons to be drawn from RAF AD's experience 168
7.5. Main difficulties encountered by the Foundation 168
7.6. Experiences of other organisations working with bank guarantees 168
8. From CRA to Community Investment Enterpreneurship: National Policy-
Making and the Decentralisation of Financial Negotiation and Investment 170
Neal Richman
8.1. Introduction 170
8.2. The history of the Community Reinvestment Act 171
8.3. Institutional implementation of the CRA 172
8.4. Community reinvestment: the case of the Vernon-Central area
of South Los Angeles 173
8.4.1. Development deal-maker: Concerned Citizens
of South Central Los Angeles 175
8.4.2. Advocacy/watchdog organisations: communities for
accountable reinvestment 177
8.4.3. Alternative lending institution: the South Central Federal
People's Credit Union 178
8.5. Conclusion 179
9. The Cigale Project 181
Johann Hosselar
9.1. The Cigale project: generating social returns 181
9.1.1.CGER 181
9.1.1.1. The Cigale project 181
9.1.2. The originality of the "Cigale" project 181
9.1.3. Operation 182
9.1.3.1. Products 182
9.1.3.2. Financial support and solidarity 182
9.1.3.3. Transparency 182
9.1.3.4. Performance 182
9.2. The Cigale project: distributing financial support and maximising
the social returns 183
9.2.l.Credal's aims 183
9.2.2. Types of loan 183
9.2.3. Loan applications are processed in three stages 184
9.2.4. What is alternative lending? 185
13
10. The German System of Credit Guarantee Companies 187
Jutta Meinberg
10.1. Legal background 187
10.2. Technical terms 187
10.3. Need for co-operation and typical clients 188
10.4. Size of guarantees 188
10.5. Subsidy through counter-guarantees 188
10.6. Guarantee losses 189
10.7. Latest performance 189
10.8. Future prospects 189
1 l.Shorebank Corporation: A Private Sector Banking Initiative
to Renew Distressed Communities 190
Joan Shapiro
11.1. Executive summary 190
11.2. The Shorebank Corporation: An Introduction 191
11.3. Summary History of Shorebank Corporation 191
11.4. The South Shore Neighbourhood: From Affluence to Disinvestment 192
11.5. Neighbourhood Reinvestment: From Theory to Practice 194
11.5.1. Developing the Theory 195
11.5.2. Bank holding company: Engine to drive renewal 195
11.6. The Results: Twenty-Three Years of Targeted
Neighbourhood Development 197
11.6.1. Development Loans and Development Deposits8"1 198
11.6.2.Non-bank subsidiaries 199
11.7. The Lessons: Banks and Community Renewal 200
11.8. Chicago Expansion: Adapting the Model beyond South Shore 201
11.9. The Future: Examining Replicability or, "Can there be more South
Shore Banks?" 202
References 204
14 |
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| genre_facet | Fallstudiensammlung Konferenzschrift 1995 Rom |
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| illustrated | Not Illustrated |
| index_date | 2024-07-02T22:39:16Z |
| indexdate | 2024-07-09T21:24:41Z |
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| isbn | 3789057665 |
| language | German |
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| spelling | Credit and new entrepreneurs Udo Reifner/Jan Evers (Hrsg.) Instituts 1. Aufl. Baden-Baden Nomos-Verl.-Ges. 1998 209 S. txt rdacontent n rdamedia nc rdacarrier Schriften des Institut für Finanzdienstleistungen e.V. Bd. 3 Literaturverz. S. 204 - 209 Bankkredit (DE-588)4318121-1 gnd rswk-swf Förderung (DE-588)4154943-0 gnd rswk-swf Kreditfinanzierung (DE-588)4032930-6 gnd rswk-swf Klein- und Mittelbetrieb (DE-588)4031031-0 gnd rswk-swf (DE-588)4522595-3 Fallstudiensammlung gnd-content (DE-588)1071861417 Konferenzschrift 1995 Rom gnd-content Klein- und Mittelbetrieb (DE-588)4031031-0 s Kreditfinanzierung (DE-588)4032930-6 s Bankkredit (DE-588)4318121-1 s DE-604 Förderung (DE-588)4154943-0 s Reifner, Udo 1948- (DE-588)120976501 edt Schriften des Institut für Finanzdienstleistungen e.V. Bd. 3 (DE-604)BV012213902 3 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016884623&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Credit and new entrepreneurs Schriften des Institut für Finanzdienstleistungen e.V. Bankkredit (DE-588)4318121-1 gnd Förderung (DE-588)4154943-0 gnd Kreditfinanzierung (DE-588)4032930-6 gnd Klein- und Mittelbetrieb (DE-588)4031031-0 gnd |
| subject_GND | (DE-588)4318121-1 (DE-588)4154943-0 (DE-588)4032930-6 (DE-588)4031031-0 (DE-588)4522595-3 (DE-588)1071861417 |
| title | Credit and new entrepreneurs |
| title_alt | Instituts |
| title_auth | Credit and new entrepreneurs |
| title_exact_search | Credit and new entrepreneurs |
| title_exact_search_txtP | Credit and new entrepreneurs |
| title_full | Credit and new entrepreneurs Udo Reifner/Jan Evers (Hrsg.) |
| title_fullStr | Credit and new entrepreneurs Udo Reifner/Jan Evers (Hrsg.) |
| title_full_unstemmed | Credit and new entrepreneurs Udo Reifner/Jan Evers (Hrsg.) |
| title_short | Credit and new entrepreneurs |
| title_sort | credit and new entrepreneurs |
| topic | Bankkredit (DE-588)4318121-1 gnd Förderung (DE-588)4154943-0 gnd Kreditfinanzierung (DE-588)4032930-6 gnd Klein- und Mittelbetrieb (DE-588)4031031-0 gnd |
| topic_facet | Bankkredit Förderung Kreditfinanzierung Klein- und Mittelbetrieb Fallstudiensammlung Konferenzschrift 1995 Rom |
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