This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of changes in financing conditions due to a global financial or economic crisis. The main purpose of the research is to examine how the loan collateral requirement for manufacturers in Eastern Europe and Central Asia had changed after the 2008-2009 Global Crisis. Systematization of the literary sources and approaches for solving the problem of changes in collateral requirement after the 2008-2009 Global Crisis indicates that there were some significant changes in terms of the collateral requirement and the type of collateral used post-crisis. The study is important because its findings will guide manufacturing firms, as well as lenders and government agencies in the region in case of an upcoming financial or economic crisis. Investigation of the topic of collateral requirement in the paper is carried out in the following logical sequence: First, the percentage of manufacturers that were required to show a collateral for obtaining a new loan is examined pre- and post-crisis. Then, the type of collateral that was used pre- and post-crisis is examined. The study uses six years of research data: the 2007 survey responses were used as the pre-crisis data and the 2010-2014 data were used as the post-crisis data. We focus on manufacturing firms in Eastern Europe and Central Asia because we have detailed data from the BEEPS IV and BEEPS V surveys of EBRD-World Bank. The paper presents the results of an empirical analysis of collateral requirement and type of collateral used, which shows that fewer manufacturers reported a collateral requirement for new loans post-crisis. When we examine the different types of assets that were used as collateral, we find that there were some significant changes from the pre-crisis period to the post-crisis period. We find that, post-crisis, fewer manufacturers used lands and buildings, machinery and equipment, or other items as collateral for new loans. There was no significant change in the percentage of manufacturers that used accounts receivable and inventories as collateral. On the other hand, our results show that, post-crisis, more manufacturers used personal assets of the owner as collateral. Overall, although fewer firms reported a collateral requirement for new loans post-crisis and fewer firms needed to show lands and buildings, machinery and equipment, or other items as collateral, more firms had to show their owner’s personal assets. The research empirically confirms and theoretically proves that governments and lenders reduced the collateral requirement in this region and that in these times of deteriorating financial conditions, as a last resort, manufacturers had to use the owner’s personal assets as collateral. The results of this research can be useful for manufacturing firms, as well as for lenders and government agencies in the region.