Can the Supply of Small Business Loans Be Increased
分析了增加银行资本和减少问题资产两种策略对扩大小企业贷款供给的效果，发现减少问题资产可能带来更持久增长。
Small and new businesses, widely credited as engines for job growth, have struggled during the recovery. One reason, say some analysts, is that bank lending to small businesses has declined steadily since the start of the recession. If, as many small businesses claim, the supply of credit from banks has contracted, then increasing the supply of small business loans may allow these businesses to grow and create new jobs. Understanding the factors that affect loan supply may help policymak-ers design policies to increase the supply of small business loans and, therefore, support further job growth. This article analyzes the potential effectiveness of two strategies that policymakers can use to expand the supply of small business loans: increasing bank capital and reducing problem assets. A review of recent policy initiatives suggests that influencing bank capital may be easier than addressing problem assets. However, reducing problem assets may lead to a larger and more persistent increase in the supply of loans. Section I examines the connection between job growth and small business lending. Section II reviews supply and demand factors that affect lending decisions at banks. It focuses on two supply factors— Jim Wilkinson is an assistant vice president and economist, and Jon Christensson is a former research associate at the Federal Reserve Bank of Kansas City. Kevin West and Tilak Mandal, senior analysts at the bank, helped prepare the article. The authors wish to thank Chuck Morris, vice president of the bank for his advice and assistance. This article is on the bank’s website at www.KansasCityFed.org.