However, experiences from existing interventions bear out the need for this form of support to be “patient”. Singapore took two years before it was in a position to announce the first loans under its IP finance scheme. Most significantly, the figures on loans made in Shanghai (where there is the benefit of longtitudinal data stretching back to 2007) indicate that it took four years following the formalisation of local initiatives in 2009 before a large impact on lending behaviour became apparent. Therefore, whilst any successful scheme should be in a position to demonstrate some shorter-term benefits in terms of additional capital availability for SMEs, levels of confidence in the assets (or sub-categories of assets) will take longer to build.