外文翻譯-----小額信貸的可持續(xù)發(fā)展問題(文件)
【正文】 影 響定價 ，討論 他們的 可持續(xù)性 發(fā)展?jié)摿?和自給自足 性 ，并 得到相關(guān) 結(jié)構(gòu) 戰(zhàn)略 的啟示 ，以便更好地為微型企業(yè) 的 信貸市場 服務(wù) 。該模型比較符合實際的結(jié)果 是 由現(xiàn)有機構(gòu)提供的價格 來 顯示 的 ，信貸通常是在 可 提供 的 范圍內(nèi)對微型 企業(yè) 補貼利率。n 譯 文： 小額信貸 的可持續(xù)發(fā)展問題 （一）前言 微型企業(yè)從 主流 金融機構(gòu) 獲得資金 有相當(dāng)大的困難 ，其中的一個重要原因是對了解借款者所花費的信息費以及風(fēng)險等級是很高的。 conversely, a less stringent process would result in greater rates of credit loss in the future. Setting the appropriate level of rigor in a credit application process is an exercise in analyzing loan applicant characteristics and forecasted future behaviors while being cognizant of the cost of performing these analyses. Three steps characterize the loan application process. Preliminary Screen. The applicant is asked a short set of questions to establish the applicant’s eligibility for credit under the MFI’s guidelines. This is sufficient to determine the likely strength of an application and whether an offer of credit could, in principle, be extended. Interview. At the interview stage, due diligence is performed to ensure that the loan purpose is legitimate and that the borrower’s business has sufficient capacity and prospects to make consistent repayments. Cashflow analysis is the core of the MFI due diligence procedure and for microfinance borrowers the data is often insufficiently formal, hindering easy examination of cash flow stability and loan payment coverage. As a result, this is a less standardized, more timeconsuming task than its equivalent in the formal lending markets. Underwriting and Approval. If a loan is remended by an officer following the interview the application is then stresstested by an underwriter, who validates the cash flow and performs auxiliary analysis to ensure that the loan represents a positive addition to the lending portfolio. The dynamics of loan origination illustrate the tradeoffs to be made to ensure an efficient credit process. Improved rigor could lead to a higher rate of declined applicants, and so higher subsequent portfolio quality, but at the expense of increased processing costs. For medium and larger loans, as application costs increase past an optimal point, the marginal benefit of improved portfolio quality is outweighed by the marginal expense of the credit application itself. However, for small loans there exists no such balance point—the optimal application cost is the least that can be reasonably achieved. This motivates a less intensive credit application process, administered when a loan request falls beneath a certain threshold, typically a principal less than $5,000. MFIs can disburse such loans more quickly and cheaply by fasttracking them through a transactionbased process and context learning. Loan Monitoring Postloan monitoring is critical toward minimizing loss. In contrast to the credit application process, which
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