This chapter on the current state of research is a summary of a more detailed literature review synopsis, which the author submitted to SDA Bocconi. Firstly, the structured methodology of the review of peer-reviewed academic research is introduced. In the following sections, the review of peer-reviewed academic literature is structured along the three acknowledged dimensions, namely macroeconomic, lender-specific, and loan-specific considerations. Relevant sources beyond peer-reviewed academic literature proved to be of particular interest for the desk study and are presented in the final section of the chapter.