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<p>Using earthquakes as exogenous demand shocks to the credit market, we find that fintech lending complements traditional banks in meeting surged credit demand under a continuous difference-in-differences framework. We show that fintech loans increase significantly after earthquakes, but the acceptance ratio and loan rates, as well as borrower characteristics keep stable pre- and post-earthquakes. Notably, fintech lending bolsters people’s access to credit more in places where traditional banking is pulling back, as indicated by less intensive banking networks and smaller share of local banks. In addition, we also find fintech credit helps job retention and creation after disasters.</p>

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A Lender in Need Is a Lender Indeed: Role of Fintech Lending after Natural Disasters

  • 期刊论文

  • 发表日期：

    2025年9月20日

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  • Runliang Li,
  • Shusen Qi,
  • Hang Sun

摘要

Using earthquakes as exogenous demand shocks to the credit market, we find that fintech lending complements traditional banks in meeting surged credit demand under a continuous difference-in-differences framework. We show that fintech loans increase significantly after earthquakes, but the acceptance ratio and loan rates, as well as borrower characteristics keep stable pre- and post-earthquakes. Notably, fintech lending bolsters people’s access to credit more in places where traditional banking is pulling back, as indicated by less intensive banking networks and smaller share of local banks. In addition, we also find fintech credit helps job retention and creation after disasters.