Figure 6.
The diagram shows a triangle labelled Start-up, Growth, and Maturity. A statement above reads The greater the maturity, the fewer credit restrictions. From Maturity, an arrow leads to Access credit, then to a higher degree of innovation, and to an oval labelled Increases maturity, forming a reinforcing cycle. On the left, High risk links to S M E innovative with Yes, and Low risk links to Less restriction on credit. The note explains that as S M E s move from start-up to maturity, credit restrictions decrease and innovation increases. Sources Created by the authors.Credit and innovation financing cycle: the role of company maturity