- Volume 13 (2014), Issue 4
- Vol. 13 (2014), No. 4
- >
- Pages 689 - 697
- pp. 689 - 697
Access to finance is one of themost pressing problems of SMEs in Europe. In particular when young and small, SMEs lack collateral and a track record, the absence of which means that private finance providers rarely consider investing in them. With the objective of better responding to the prevailing market failures in access to finance and encouraging Member States and private investors to provide on a risk-sharing basis repayable financing at preferential conditions