Issue:Intercriteria analysis of the creditworthiness of SMEs. A case study

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Title of paper: Intercriteria analysis of the creditworthiness of SMEs. A case study
Lyubka Doukovska
Institute of Information and Communication Technologies, Bulgarian Academy of Sciences, Acad. G. Bonchev str., bl. 2, 1113 Sofia, Bulgaria
George Shahpazov
Institute of Information and Communication Technologies, Bulgarian Academy of Sciences, Acad. G. Bonchev str., bl. 2, 1113 Sofia, Bulgaria
Vassia Atanassova
Institute of Biophysics and Biomedical Engineering, Bulgarian Academy of Sciences, Acad. G. Bonchev Str., bl. 105, 1113 Sofia, Bulgaria
Presented at: International Conference on Intuitionistic Fuzzy Sets Theory and Applications, 20–22 April 2016, Beni Mellal, Morocco
Published in: "Notes on IFS", Volume 22, 2016, Number 2, pages 108—118
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Abstract: The latest programming period of the EU, is expected to introduce reforms in the mechanism of EU Budget funding. The subsequent consequences of those reforms, will reflect to the overall European economy, as well as Bulgaria’s. The general idea of economy’s recovery has to go mainly through asset and know-how modernization of long-term value creating industries. Expected results of the reforms, though with some uncertainty to the direct influence on SME funding, should result into timely implementation of available financial resources to beneficiaries as first. The creation of additional and more advanced financial instruments, along with increase of % ratio in advance payments to some programs is estimated to provide a lot more stability and reduce the risk of project realization failure. The lack of internal SME available cash positions, could be compensated by those program updates. At the same time, those processes should be synchronized with the necessary updates in most financial institutions methodology of creditworthiness and credit risk assessment analysis and procedures. The approach of the methodology is to bring up and screen the most important elements in each SME present status. The unification of the approach will provide a positive outcome to the process of analyzation and assessment of credit risk, and creditworthiness of local SME’s. The main scope of the unification is to make the assessment more thorough, that way the risk undertaken by financial institution can be minimized. In the article we provide a scoring scheme model, which will analyze majority of important objective and subjective characteristics of SMEcompanies, all applying for financial support under a randomly picked program or instrument suited for small and medium-sized enterprises. For this purpose, we further employ the intercriteria analysis, as an approach for detection and identification of dependencies between these objective and subjective characteristics of SMEs.
Keywords: Small and medium-sized enterprises, SME creditworthiness, Intercriteria analysis.
AMS Classification: 03E72.
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