Access to finance is critical for businesses since it allows them to expand operations, upgrade equipment, or launch new projects, thereby assisting in their development and increasing their competitiveness. Access to finance, on the other hand, is typically correlated with firm size, implying that the smaller the company, the more difficult is to access external financing options. Small and medium-sized enterprises (SMEs) face greater challenges than large firms. Additionally, smaller firms are more dependent on external funding due to their limited equity and internal funds, they may, thus, be more vulnerable if adequate funds are not available. Bank financing is one of the most important external sources of funding for SMEs.