Examinando por Autor "CRUZ RAMBAUD, SALVADOR"

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A socioeconomic approach to the profile of microcredit holders from the Hispanic minority in the USA
(Springer Open, 2023-01-10) CRUZ RAMBAUD, SALVADOR; López Pascual, Joaquín; SANTANDREU, EMILIO M.
The subject of this study is the microcredit market in the USA, more specifically in Florida. The justification for choosing this specific state is the massive presence of the Hispanic population. This will facilitate a generalization of the obtained results to the microcredit market in Latin American countries. Thus, the objective of this study is to analyze the profile of microcredit holders and their companies from socioeconomic and financial points of view. As our data also consider the degree of repayment of the microloans included in the sample, the clients’ profile is related to the punctuality or default of their corresponding loan repayments using the methodology of multinomial logit regression. The variables used in this study refer to personal information concerning borrowers (gender, age, education level, and marital status), the economic situation of their respective companies (closeness to the lender, number of workers, and revenues), and the characteristics of granted loans (principal, term, and purpose). However, the results of the regression show that only two variables are significant at the 5% significance level: the borrower’s age, which has a positive effect on repayment punctuality, and the loan term, which exhibits a negative effect. The findings of this study have clear implications, as they can help lenders design suitable microloans adjusted to customer profiles. Finally, future research should include other demographics and characteristics of affected companies.
Staggered loans: A flexible modality of long-term financing for SMEs in global health emergencies
(AIMS Press, 2022-11-28) CRUZ RAMBAUD, SALVADOR; LOPEZ PASCUAL, JOAQUIN; SANTANDREU, EMILIO M.
The context of this paper is the unprecedented global situation which has been and is still experiencing all countries all over the world, due to the pandemic caused by Covid-19 and its variants. Apart from the important problem of health population, all countries are facing a sharp reduction in their main economic indicators: stock indices, GDP (Gross Domestic Product), rates of employment, closing down of businesses, etc. Results: In this paper, we have presented and mathematically analyzed the so-called staggered loans as a useful tool for SMEs to be applied after times of crisis. Moreover, their pros and cons, and the advantages for lenders and borrowers have been highlighted. Specifically, this kind of loan can help solve the problem of the scarce offer of credit due to monetary politics currently addressed to reduce inflation. Policy implications: Taking into account that this economic situation cannot continue for longtime, many countries are thinking about the next stages of the way-out from the crisis in all sectors of affected economies. Purpose: In this research, we seek to provide some information on the characteristics of the so-called staggered loans and the repayment system applied by some microfinance institutions in Latin America. This can help SMEs to obtain the liquidity necessary to reopen and develop their activity. Methods: Methodologically, we have presented risk-based measures able to guarantee the profitability of lenders and control the solvency of lenders and borrowers.