The article looks at how companies in India get money to run their businesses. They studied data from 1994 to 2003 for around 6,000 firms. They found that most companies use debt to finance their operations, with bank loans being the most common. Over time, the amount of debt companies take on has stayed about the same, but the growth in debt has slowed down. Small companies tend to have less debt compared to larger ones, especially if they are new, in the manufacturing sector, or located in Southern India. The ability of companies to pay back their debts has improved in recent years. Overall, the findings suggest that smaller companies may face more difficulty in getting loans compared to larger ones.