Banks can help? Evidence in the speed of lending for COVID-19 personal relief loans and financial inclusion

Using a large data set on COVID-19 relief policy loans in Taiwan, we explored how the speed of loan approval for individual applicants were correlated with their demographic characteristics, credit data, banking relationships, and the corporate social responsibility of the lending banks. We also analyzed how the characteristics of lending banks influenced the financial inclusion of applicants with poor credit. Evidence indicates that prioritizing individuals in need enabled the policy to be used to disburse loans quickly, thereby substantially promoting financial inclusion. This successful implementation provides valuable insights for future policy development.