European Journal of Service Management

Micro-, small- and medium-sized enterprises encounter many barriers to their activity, one of the major ones being the limited access to capital and its sources. A significant role in overcoming the obstacles connected with inadequate access to capital is played by the special funds established by the state as well as regional and local authorities. Poland can boast a relatively well developed system of institutions whose fundamental purpose is financing of business activity. These first and foremost include banks and various kinds of funds, such as loan funds and loan guarantee funds. The regional market and the financial system creates numerous processes. In the theory of economics there are many concepts and views regarding the impact of the financial system on economic growth. Most of them indicate that development of the financial system stimulates economic growth. The mission of regional development should involve any and all local (regional) financial institutions, including those that are not banks, such as loan funds and loan guarantee funds. Another element of the regional financial markets are regional development funds (RDF) that may become the local managers and stimulators of regional development, in its broad sense and in a long-time perspective.