This book explores current financing options for small and medium size enterprises (SMEs), with particular insight into the European market. The authors position SME funding within a risk-averse lending environment with high regulatory costs on business loans, which has arisen from the recent financial crisis and new European bank capital regulations. Chapters in the book demonstrate how and why SMEs may be forced to leave the market and posit that shadow banking and other alternative funding options are viable channels for raising funds. A new and innovative SME credit risk model is also presented. This book will appeal to all who share an interest in sustainable solutions to issues in SME financing.



Gianluca Oricchio has held senior capital and risk management positions at several global financial institutions for over 20 years. He has previously served as Head of Credit Treasury at Unicredit Group, Italy, and as Head of ACPM at Capitalia Banking Group, Italy. He has written several books on financial markets, corporate finance and risk management.

Andrea Crovetto is co-founder and CEO of EPIC, a web-based securities trading platform focused on European SMEs. Over the past 20 years Andrea has held senior management positions at several major banks and has launched many innovative initiatives such as TLX, MAC/AIM and Kilovar.

Sergio Lugaresi is currently Project Manager at the Italian Banking Association and interim Head of the Office of the World Bank in Rome, Italy. He is a member of the Panel of Experts at the International Monetary Fund (IMF). He has published several articles on banking, economics, monetary and fiscal policy. <

Stefano Fontana is Assistant Professor in accounting and corporate management at La Sapienza State University in Rome, Italy. He is the author of many publications on corporate finance, business valuation, accounting.

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SME Funding Oricchio, Gianluca, Fontana, Stefano, Lugaresi, Sergio, Crovetto, Andrea

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