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Securitization and small business

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  • James A. Wilcox

Abstract

Small businesses have relied considerably on securitized markets for credit. The recent financial crisis led to a virtual cessation of securitization of some of the loans used by small businesses, such as commercial real estate mortgages, vehicle, and credit card loans. In addition, values of commercial and residential real estate, which small businesses often use as collateral for loans, dropped dramatically. As a consequence, small businesses may have experienced tighter credit conditions than larger businesses, which rely relatively less on those categories of loans and collateral.

Suggested Citation

  • James A. Wilcox, 2011. "Securitization and small business," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue july18.
  • Handle: RePEc:fip:fedfel:y:2011:i:july18:n:2011-22
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    File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-22.html
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    File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-22.pdf
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    Cited by:

    1. John C. Williams, 2011. "The economic outlook and monetary policy," Speech 94, Federal Reserve Bank of San Francisco.

    More about this item

    Keywords

    Small business - Finance ; Loans;

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