Abstract
This study examines the application of the theory of planned behavior (TPB) in explaining SMEs' financing decisions. The data collection was carried out by distributing questionnaires to SMEs owners or managers in Ternate City using purposive sampling and obtained 167 responses. Hypothesis testing is done using PLS-SEM analysis. The results of the analysis show that attitude, subjective norms, and perceived behavioral control are positively related to the SMEs owner or manager's intention to use external financing. In addition, the results of the analysis also show that behavioral intentions are positively related to actual behavior using external financing. Finally, the results show that behavioral intentions mediate the influence of attitude, subjective norms, and perceived behavioral control on actual behavior using external financing.
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