MSME constraints and policy instruments
- Collateral constraints on small-enterprise credit
- Credit guarantees support lenders rather than directly lending to firms
- Discounting an accepted invoice to obtain working capital
- Buyer-initiated versus seller-initiated factoring
- Buyer-default recourse in the TReDS model
- Equity support as a distinct small-enterprise financing instrument
- Capability support alongside financial assistance for MSMEs
- Delayed buyer payments constrain supplier liquidity