opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution … with bank credit and to a diversification of corporate funding sources. Studying their ex-post performance, we find that …

We show that FinTech lending affects credit markets and real economic activity using a unique data set of a Peer … businesses who already have access to bank credit. Firms use FinTech to obtain long-term unsecured loans and reduce their …