Abstract
This article assesses the institutional arrangements for sourcing credit and constraints facing SMEs in accessing credit to finance their operations in Assin North Municipality of the Central Region, Ghana. A descriptive cross sectional survey research design was employed in the study. A sample size of 80 respondents was drawn for the study and questionnaire was the instrument used for collecting the data. The study reveals that friends or family members were the principal sources of funding available for SMEs. Also, high collateral requirements, high level of taxation and competition from large scale businesses for finance and market were the major constraints facing the growth and expansion of SMEs. These challenges have stifled the growth and expansion of SMEs in the municipality. It is recommended that a special fund be established by the government and other stakeholders in the finance sector to respond solely to the credit needs of SMEs in the municipality.
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