Table A2: Impacts on Using Collateral

||(1)<br>Any collateral used<br>in the past 3 years<br>(Yes 1; No 0)|(2)<br>Guarantor used as collateral<br>in the past 3 years<br>(Yes 1; No 0)|(3)<br>Asset used as collateral<br>in the past 3 years<br>(Yes 1; No 0)|(4)<br>House used as collateral<br>in the past 3 years<br>(Yes 1; No 0)|(5)<br>Car used as collateral<br>in the past 3 years<br>(Yes 1; No 0)|(6)<br>Business assets used as collateral<br>in the past 3 years<br>(Yes 1; No 0)|
|---|---|---|---|---|---|---|
|Treatment (0/1)|0.0475|-0.108|0.100|-0.0222|-0.0807*|0.181***|
||(0.092)|(0.079)|(0.088)|(0.075)|(0.045)|(0.056)|
|Psychometric score above median (0/1)|0.213**|0.00719|0.159*|0.114|-0.00741|0.0324|
||(0.089)|(0.077)|(0.083)|(0.072)|(0.039)|(0.053)|
|**ANCOVA**|✗|✗|✗|✗|✗|✗|
|Observations|124|124|124|124|124|124|
|Control mean|0.439|0.288|0.258|0.197|0.0758|0.0152|
|_R_<sup>2</sup>|0.073|0.019|0.065|0.024|0.042|0.10|
|Randomization inference p-value|0.62|0.20|0.20|0.73|0.042|0|
|Sharpened q-value|0.43|0.20|0.20|0.43|0.087|0.01|

Notes: Outcome 1 takes the value of 1 if the respondent reported using any collateral for any loans borrowed in the last 3 years and 0 otherwise. Outcomes 2-6 are binaries from a multi-select question stating ”Which of the following items have you personally used as collateral for any loans borrowed in the past 3 years?”. Psychometric scores in the IE sample ranged from 370 to 452, and the median score used a cut-off is 383 (note that 370 was the qualifying score to receive an uncollateralized loan). Includes a control for number of children in the households that was imbalanced between treatment and control at baseline. Observations represent number of individuals. Robust standard errors are in parentheses. * _p <_ 0 _._ 05, ** _p <_ 0 _._ 01, *** _p <_ 0 _._ 001 Table A3: Impacts on Monthly Sales and Profits of the Main Business

||Last 30 da|ys sales|Last 30 day|s profts|Last year|’s proft|
|---|---|---|---|---|---|---|
||(1)<br>(Unconditional)<br>(Level)|(2)<br>(Conditional)<br>(Level)|(3)<br>(Unconditional)<br>(Level)|(4)<br>(Conditional)<br>(Level)|(5)<br>(Unconditional)<br>(Level)|(6)<br>(Conditional)<br>(Level)|
|Treatment (0/1)|-313.8|-481.3|-155.6*|-195.9*|466.9|400.7|
||(275.4)|(336.4)|(89.8)|(107.3)|(380.0)|(441.6)|
|Psychometric score above median (0/1)|148.2|15.16|-40.72|-72.40|161.9|-297.7|
||(242.2)|(308.1)|(76.1)|(94.3)|(363.7)|(450.8)|
|**ANCOVA**|✓|✓|✓|✓|✓|✓|
|Observations|124|105|124|105|124|105|
|Control mean|909.2|1170|117.1|149.0|1393.7|1720.4|
|_R_<sup>2</sup>|0.094|0.14|0.054|0.069|0.031|0.027|
|Randomization inference p-value|0.11|0.061|0.017|0.021|0.14|0.30|
|Sharpened q-value|0.20|0.20|0.20|0.20|0.20|0.26|

Notes: Outcomes 1-2 are sales from the past 30 working days. Outcomes 3-4 are profits from the past 30 working days. Outcomes 5-6 are profits from the past year (Ethiopian 2013/Gregorian 2020). Conditional amounts represent only those whose businesses were open, whereas unconditional amounts include those not operating any business with a value of 0. Level refers to amounts in ETB, winsorized at 99th percentile. Outcomes indicated with ”Level” are in 100 Ethiopian birr (100 ETB = 3.4 USD at baseline and 2.2 USD at endline). Psychometric scores in the IE sample ranged from 370 to 452, and the median score used a cut-off is 383 (note that 370 was the qualifying score to receive an uncollateralized loan). Includes a control for number of children in the households that was imbalanced between treatment and control at baseline. Observations represent number of individuals. Robust standard errors are in parentheses. * _p <_ 0 _._ 05, ** _p <_ 0 _._ 01, *** _p <_ 0 _._ 001 30