This EIF Working Paper investigates financing patterns of European SMEs by looking at a large number of different … of SMEs. Our results confirm the results of Moritz et al. (2016) and show that European SME financing is not homogenous … the financing instruments used: mixed-financed SMEs with focus on other loans, mixed-financed SMEs with focus on retained …

cluster analysis including 12,726 SMEs in 28 European countries. The results reveal that SME financing in Europe is not …-financed SMEs, state-subsidised SMEs, debt-financed SMEs, flexible-debt-financed SMEs, trade-financed SMEs and internally …-financed SMEs. These SME financing types differ according to the number of financing instruments used and the combinations thereof …

including 12,726 SMEs in 28 European countries. The results reveal that SME financing in Europe is not homogenous but that … different financing patterns exist. The cluster analysis identifies six distinct SME financing types: mixed-financed SMEs, state …-subsidized SMEs, debt-financed SMEs, flexible-debt-financed SMEs, trade-financed SMEs and internally-financed SMEs. These SME …

Against the background of the need for alternative and additional financing channels for SMEs in Europe, this paper …