This study examines how alternative financing influences sustainable growth among small and medium-sized enterprises (SMEs), focusing on the mediating role of green innovation and the moderating role of managerial capability. Drawing on Pecking Order Theory, green entrepreneurship theory, and the managerial capability perspective, the study develops an integrated mediation and moderation framework explaining how FinTech-enabled financing translates into sustainable outcomes. Using survey data from 1007 SMEs in Ghana and Partial Least Squares Structural Equation Modelling (PLS-SEM), the findings show that access to alternative financing significantly enhances sustainable SME growth. Green innovation partially mediates this relationship, indicating that financing contributes to growth both directly and through innovation. Managerial capability is the strongest direct predictor of growth and modestly strengthens the financing-growth relationship. Overall, the findings highlight that the effectiveness of alternative financing depends on both innovation-driven resource use and managerial capability.
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