The Guide on Access to Credit for Micro-, Small and Medium-sized Enterprises (MSMEs) is designed to assist States in developing and strengthening legal frameworks that facilitate access to credit for MSMEs. It complements UNCITRAL’s broader work aimed at reducing legal obstacles faced by MSMEs throughout their life cycle.
Addressing the persistent financing gap affecting MSMEs, the Guide focuses on the legal conditions necessary to enable access to credit. In doing so, it contributes to the achievement of various Sustainable Development Goals, including poverty reduction, gender equality, inclusive economic growth and improved access to financial services, and recognizes the role of effective legal frameworks in promoting financial inclusion and sustainable development.
While the primary focus of the Guide is on legal frameworks, it also refers to policy and support measures to the extent that they enhance the effectiveness of those frameworks. Particular emphasis is placed on micro- and small enterprises, in line with the “think small first” approach reflected in UNCITRAL texts on MSMEs. At the same time, the Guide adopts a balanced approach aimed at both improving access to credit and ensuring adequate protection for financers.
The Guide identifies key areas for legal reform with a view to reducing uncertainty and transaction costs. In particular, it highlights the importance of modern secured transactions regimes that enable the use of movable assets as collateral. It also examines other relevant legal frameworks that support credit markets, including those governing personal guarantees, enforcement and insolvency, as well as complementary measures—such as credit information systems—that enhance transparency and support informed lending. Emphasis is placed on ensuring coherence among these elements to support efficient and inclusive credit markets.
In addition to legal and institutional reforms, the Guide recognizes that effective access to credit also depends on the capacity of MSMEs, financers and regulators to engage with available financing mechanisms. Therefore, the Guide draws attention to strategies and tools aimed at strengthening MSMEs’ financial literacy, as well as enhancing the capacity of financiers and regulators to effectively serve the sector.