"Loan and Guarantee Funds"

Spis treści

Introduction 7

1. Regional and local development 13

Chapter I. Capital gap – a barrier for development 13

2. Capital gap in small and medium enterprises 15

2.1. Capital gap – phenomenon explained 15

2.2. Theoretical approaches to capital gap 19

2.3. Measurement of the capital gap 20

3. Guarantee and loan schemes as policy instruments for support of small and medium enterprises 21

1. Economic transformation in Poland 23

Chapter II. Loan and guarantee funds in Poland – attempt at closing the capital gap 23

2. Loan funds in Poland 26

3. Guarantee funds in Poland 29

4. Role of loan and guarantee funds in closing the capital gap in Poland 37

Chapter III. Development and business models of loan and guarantee funds in Poland 45

1. Phase I: 1992–2003 49

2. Phase II: 2004–2013 56

3. Phase III: 2014–2020 62

Chapter IV. Loan and guarantee schemes and funds in chosen European countries 71

1. France 73

2. United Kingdom 74

3. Turkey 75

4. Austria 77

5. Czech Republic 78

6. Germany 79

7. Hungary 80

8. Slovakia 81

9. Italy 82

10. Comparative analysis of guarantee and loan schemes in Europe 83

1. Dimensions of performance and research questions 87

Chapter V. Performance of loan and guarantee funds in Poland – an approach to assessment and evaluation 87

2. Guarantee funds’ and loan funds’ performance in the context of regional development level 89

3. Stability of loan and guarantee funds 92

Conclusions, study limitations and further research 105

References 109

List of tables 121

List of figures 123

Appendix 1. Key information on guarantee funds in Poland (active on the day 1.01.2018) 125

Appendix 2. Key information on loan funds in Poland (active as of 31.01.2020) 133