Fintech lending and firm bankruptcies

Lam Nguyen and Bin Qiu

Journal of Credit Risk

Abstract: This study examines the impact of fintech lending on small business bankruptcies at the county level in California from 2008 to 2023. Using Uniform Commercial Code (UCC) filings and California and Federal Judicial Center (FJC) bankruptcy records, we find that increased fintech lending is associated with decreased bankruptcy rates across counties. This suggests that fintech lenders play a crucial role in supporting small businesses by maintaining credit access, even during economic downturns, thereby helping to mitigate the impact of reduced bank lending.

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