학술논문
An Overview of the Securitization of SBA Guaranteed Loans Originated by Commercial Banks
Document Type
redif-article
Author
Source
Springer, Small Business Economics. 5(3):215-220
Subject
Language
English
Abstract
Securitization involves the repackaging of individual SBA Guaranteed loans made by financial institutions into pools of varying maturities for resale to intermediaries and final investors. Pool volume has been increasing at a rapid rate since the program's inception in 1985. National and regional investment companies, acting as intermediaries, are the major pool buyers. Investors in pools include banks, savings & loans associations, and pension funds. Securitization has resulted in a major secondary market for institutions that make SBA Guaranteed loans. Public policy goals are served by the increase in SBA lending activity that appears related to the securitization process. Copyright 1993 by Kluwer Academic Publishers