Bank size, lending paradigms, and usage of Farm Service Agency's guaranteed loan programs
Bank size, lending paradigms, and usage of Farm Service Agency's guaranteed loan programs
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银行规模、贷款模式以及农业服务机构担保贷款计划的使用
DOI：
10.1108/afr-01-2013-0002
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发表时间：
2014
影响因子：
1.6
通讯作者：
C. Dodson
中科院分区：
文献类型：
--
作者：
C. Dodson
目的--小企业贷款的既定模式是按银行规模划分的，大银行更有可能向信息透明的大公司放贷，而小银行更有可能向信息不透明的小公司放贷。鉴于银行业的整合，这种市场细分可能会对信贷供应产生影响。联邦贷款担保，如美国农业部农业服务局(FSA)提供的担保，可能会降低向信息不透明的公司提供贷款的风险，从而减轻银行规模贷款范例的影响。本文旨在探讨这些问题。设计/方法/方法--这项分析利用二项Logit程序来确定是否有任何经验证据表明，较小的社区银行在提供金融服务管理局担保的贷款时服务于独特的农民客户。这项分析依赖于一个独特的数据集，其中包含了有关获得金融服务管理局担保贷款的农场企业的详细数据、贷款特征，以及有关发端银行和当地信贷市场特征的信息。调查结果--结果与银行规模贷款模式一致，即较小的银行不太可能从事固定资产贷款，更有可能在提供担保贷款时服务于风险较高和不太成熟的客户。研究限制/影响--数据限制不允许对总资产超过2.5亿美元的银行进行详细分析，也不能供非银行贷款人考虑。如果这些贷款集团扩大到为信息不透明的借款人提供服务，可能会减轻小型社区银行减少带来的任何不利影响。实际意义--结果表明，联邦担保并不完全消除大小银行的相对信息优势。而且，持续的银行整合，比如小型社区银行的减少，可能会导致规模较小、信誉较差的农业企业获得的信贷减少。社会影响--虽然FSA担保可能不会增强大型银行为信息不透明的农场借款人提供服务的倾向，但它们可能会增强较小的社区银行通过FSA贷款计划为特定目标群体提供服务的能力；向尽管信誉良好但无法以合理利率和条款获得信贷的家庭农民提供信贷。原创性/价值--该分析使用一个独特的数据集来检查银行规模和FSA担保的使用之间的关系，该数据集结合了关于FSA担保贷款的信息、农场金融特征以及参与FSA担保计划的商业银行的特征。
Purpose - – An established paradigm in small business lending is segmented by bank size with large banks more likely to lend to large informationally transparent firms while small banks are more likely to lend to small informationally opaque firms. In light of banking consolidation, this market segmentation can have implications for credit availability. Federal loan guarantees, such as those provided by USDA's Farm Service Agency (FSA) may reduce the risks of lending to informationally opaque firms thereby mitigating the impacts of the bank size lending paradigm. This paper aims to discuss these issues. Design/methodology/approach - – This analysis utilized a binomial logit procedure to determine if there was any empirical evidence that smaller community banks served a unique clientele of farmers when making FSA-guaranteed loans. The analysis relied on a unique data set which incorporated detailed data on farm businesses receiving FSA-guaranteed loans, loan characteristics, as well as information about the originating bank and characteristics of the local credit markets. Findings - – Results were consistent with the bank size lending paradigm with smaller banks being less likely to engage in fixed-asset lending, and more likely to serve a riskier and less established clientele when making guaranteed loans. Research limitations/implications - – Data limitations did not permit detailed analysis of banks larger than $250 million in total assets nor for consideration of non-bank lenders. An expansion by these lender groups into serving more informationally opaque borrowers could mitigate any adverse impacts arising from fewer small community banks. Practical implications - – The results suggested that Federal guarantees do not completely eliminate the relative informational advantages of large and small size banks. And, continued bank consolidation, such that there are fewer small community banks, could result in less credit availability among smaller, less creditworthy farm businesses. Social implications - – While FSA guarantees may not enhance a large banks propensity to serve informationally opaque farm borrowers, they may enhance the ability of smaller community banks to serve groups specifically targeted through FSA lending programs; the provision of credit to family farmers who, despite being creditworthy, are unable to obtain credit at reasonable rates and terms. Originality/value - – The analysis examines relationship between bank size and the use of FSA guarantees using a unique data set which incorporated information on FSA-guaranteed loans, farm financial characteristics, along with characteristics of commercial banks which participated in the FSA-guarantee program.