Determinants of Funding Decisions in Micro, Small, and Medium Enterprises (MSMEs): A Systematic Literature Review
DOI:
https://doi.org/10.55927/ijems.v3i2.50Keywords:
Funding Decisions, MSMEs, Financial Institutions, FintechAbstract
This study aims to analyze the factors that influence MSME funding decisions through a systematic literature review (SLR) of empirical studies in the last 10 years. The results of the study indicate that MSME funding decisions are influenced by internal and external factors from the MSME perspective, namely owner characteristics, business size, financial literacy, access to funding, interest rates and service quality. Based on the perspective of financial institutions, internal factors consist of DPK, NPF, FDR, while external factors include collateral, profitability and inflation. Fintech also influences funding decisions by opening access for MSMEs that are not accessible to conventional banks with a fast and flexible process. By understanding these factors, the government can formulate effective strategies to support the growth and sustainability of MSMEs, which will contribute to more inclusive economic development
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