Abstract
In this paper we consider a credit rationing problem between a bank and a creditworthy firm. We then determine whether and how the intervention of an external financial institution can facilitate the access to credit. In particular, we focus on the European Investment Bank Group (EIBG), which provides (i) specific credit lines to help banks that finance small and medium-sized enterprises (SMEs) and (ii) guarantees for portfolios of SMEs' loans. We show that especially during crises an opportune EIBG intervention allows to reduce credit rationing.