Survey on Lending Practices to SMEs in Austria

The importance of small and medium enterprises (SMEs) to economic development and job creation is increasingly recognized across the world. With an expected 58 percent of gross value added in 2012, SMEs are perceived to be the backbone of the economy especially within the European Union (EU). Although they faced particularly challenging economic conditions in 2011-12, SMEs within the EU still account for more than 98 percent of all enterprises and 67 percent of total employment. For such businesses, access to finance is a key factor for business start-up, development, survival, and growth. In September-October 2012, the World Bank Centre for financial reporting reform (CFRR) surveyed Austrian banks with a view to understanding the role played by financial information and audits in lending decisions. Respondents to the survey represent approximately one third of the sector based on total assets. The survey also assessed how banks measure the quality of the financial information they receive as part of a loan application. The purpose of this report is to inform the accounting and auditing profession, policy makers, and SMEs and their representative institutions about banks’ requirements and expectations regarding the scope of financial information provided by SMEs when applying for a credit.

Bibliographic Details

Main Author:	Lindner, Bernhard
Format:	Working Paper biblioteca
Language:	English en_US
Published:	World Bank, Vienna 2013-05
Subjects:	LOAN PROCESSING TIME, ACCOUNTING PRINCIPLES, PHYSICAL CAPITAL, EMPLOYMENT, DEPOSIT, CO-OPERATIVE BANK, CREDIT CARDS, ACCOUNTING, DEPOSITS, PEOPLE, POLICY ENVIRONMENT, FINANCIAL MANAGEMENT, FINANCING, MICRO-ENTERPRISES, BANK OFFICE, LENDING POLICIES, CREDIT SCORE, INDUSTRY, STRATEGIES, SERVICES, BANK ACCOUNT, CAPITAL STRUCTURES, HOUSING, CAPITAL STRUCTURE, MORTGAGE, CREDIT COOPERATIVES, LENDING PORTFOLIO, CAPACITY BUILDING, LOAN, FEE, PROJECTS, BORROWERS, CREDIT CARD, CREDIT INSTITUTION, CASH FLOWS, AUDITS, BANK LENDING, SMALL BUSINESS, MUNICIPAL BONDS, NET ASSETS, CREDITS, SAVINGS, TECHNICAL ASSISTANCE, START-UP, INDEBTEDNESS, LIMITED ACCESS TO BANK, MARKET DEVELOPMENT, COMMERCIAL BANK, TRANSPORT, UNION, ECONOMIC COOPERATION, FINANCES, LOAN DECISION, CREDIT APPLICATIONS, LENDING DECISIONS, PAYMENT, CRITERIA, FINANCIAL INSTITUTIONS, DEBT, FINANCIAL CRISES, LIMITED ACCESS, LOAN APPLICATION, MORTGAGE BANKS, LOANS, ENTERPRISES, CAPITAL INVESTMENTS, APPLICATION PROCESS, BANK CREDIT, FINANCIAL SYSTEM, BANK FINANCING, FINANCE, FUTURE CASH FLOWS, MICRO ENTERPRISES, BANKING SECTOR, SAVINGS ACCOUNT, BANKS, EQUITY, GRANT, CREDIT DECISIONS, CAPITAL, BUSINESS PLAN, BUSINESS EXPERIENCE, SMALL ENTERPRISES, JOINT STOCK BANKS, SUBSIDIARIES, ACCESS TO FINANCE, VALUE, BANK, CREDIT, WORKING CAPITAL, DOCUMENTATION REQUIREMENTS, REPAYMENT, ENTERPRISE, PROPERTY, UNIVERSAL BANKS, GUARANTOR, LOAN PORTFOLIO, JOB CREATION, BALANCE SHEET, EQUITY RATIO, CREDIT BUREAU, RISK FACTORS, PROFITABILITY, INSURANCE, ECONOMIC DEVELOPMENT, INTERESTS, SECURITY, ACCOUNTING STANDARDS, LOAN APPLICATIONS, NATIONAL BANK, INVESTMENT, RISK, LOAN PROCESS, COMMERCIAL BANKS, COLLATERAL, BALANCE SHEETS, AUSTRIAN NATIONAL BANK, LOAN SIZE, COOPERATION, BANKING, COOPERATIVES, INVESTMENTS, LENDING, SAVINGS BANKS, EXTERNAL FINANCING, LOAN PROCESSING, TAX RETURN, REMITTANCES, GOVERNMENTS, TAX RETURNS, CREDIT INSTITUTIONS, CREDIT DECISION, SAVINGS BANK, CASH FLOW, ECONOMIC CONDITIONS, CREDIT APPLICATION, AUDITING, BUSINESS RISK, SPECIALIZED BANKS, EMPLOYEES,
Online Access:	http://documents.worldbank.org/curated/en/2016/05/26396204/survey-lending-practices-smes-austria http://hdl.handle.net/10986/24493
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