Small and medium enterprises (SMEs) are critical for the economic and social development of emerging markets. They play a major role in creating jobs and generating income for low income people; they foster economic growth, social stability, and contribute to the development of a dynamic private sector. As such, access to financial services is vital in developing a vibrant SME sector in any economy. In many emerging markets, however, access to financial services for SMEs remains severely constrained. The current global economic and financial crisis is not conducive to the business development of small firms, especially those with international markets. Millions of these enterprises, considered the backbone of an economy, have collapsed. Small and medium-sized enterprises (SMEs) in developing countries have been hardest hit, with export markets cut by an average of 40%–50% and resulting increases in unemployment and poverty. SME managers often cite access to finance as a major obstacle to creativity, entrepreneurship and growth. The crisis created an immediate scarcity of funds for lending. As an after effect, a tightening of exposure levels has further affected SMEs, which financial institutions already considered as representing increased risk.