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Job Creation, Small vs. Large vs. Young, and the SBA

J. David Brown (), John Earle () and Yana Morgulis

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: Analyzing a list of all Small Business Administration (SBA) loans in 1991 to 2009 linked with annual information on all U.S. employers from 1976 to 2012, we apply detailed matching and regression methods to estimate the variation in SBA loan effects on job creation and firm survival across firm age and size groups. The estimated number of jobs created per million dollars of loans within the small business sector generally increases with size and decreases in age. The results suggest that the growth of small, mature firms is least financially constrained, and that faster growing firms experience the greatest financial constraints to growth. The estimated association between survival and loan amount is larger for younger and smaller firms facing the “valley of death.”

New Economics Papers: this item is included in nep-bec and nep-ent
Date: 2015-09
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https://www2.census.gov/ces/wp/2015/CES-WP-15-24.pdf First version, 2015 (application/pdf)

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Working Paper: Job Creation, Small vs. Large vs. Young, and the SBA (2015) Downloads
Working Paper: Job Creation, Small vs. Large vs. Young, and the SBA (2015) Downloads
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