# kaal:claim:2739479-011

**Claim.** Because the Dodd-Frank Act discouraged banks from growing too large and made bank lending harder, private funds and other alternative lenders filled the resulting void by financing small and medium sized businesses that traditional banks no longer served.

**Type.** mechanism  **Support.** argued

**Holds when.**

- United States lending markets after Dodd-Frank
- small and medium sized business borrowers

**Source quote.**

> In essence, because the Dodd-Frank Act discouraged banks from getting too big, private funds and other alternative lenders filled the void, providing fi- nancing to the small- and medium-size businesses that traditional banks were no longer equipped to serve.

**From.** Wulf A. Kaal, *The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2* (2016), II.1. Private Fund Industry Trends, page 19

**Cite as.** Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

**Verify.** sha256 of source PDF `b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20The%20Post%20Dodd-Frank%20Act%20Evolution%20of%20the%20Private%20Fund%20Industry%20Comparative%20Evidence%20from%202012%20and%202.pdf

**Failure mode.** Credit migration outside the banking perimeter  (family: regulatory-arbitrage)

**Topics.** systemic-risk, private-funds, defi, regulatory-failure

**Keywords.** shadow-banking, private-fund-lending, regulatory-arbitrage, dodd-frank-act, credit-migration

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.