Análisis del acceso creditico formal y su efecto en la sostenibilidad de medianas empresas industriales de Guayaquil

Abstract

In this study, the sustainability of medium sized industrial businesses in Guayaquil a vital sector of the local economy is examined in relation to the availability of formal financing. The obstacles small businesses face such as stringent collateral requirements, bureaucratic roadblocks, and credit approval delays make this topic pertinent since they make it difficult for them to invest in strategic initiatives and boost their competitiveness. Finding barriers to official funding and assessing how they affect the viability of businesses while suggesting ways to enhance financial management in the industry were the main goals. The study used a non-experimental, cross-sectional design and a descriptive-explanatory methodology. 50 medium-sized Guayaquil industrial businesses made up the sample, which was chosen by non-probabilistic convenience sampling. The findings show that although companies see interest rates favorably and have a high degree of faith in financial institutions, there are still major issues with credit eligibility standards and administrative processes. Furthermore, their operational and strategic capabilities are adversely affected by the absence of flexible lending terms. It is determined that to overcome these obstacles, governmental policies supporting flexible and easily accessible credit lines as well as improved financial education are crucial. Such actions would improve Guayaquil's industrial sector's long-term viability and financial stability.