Nontraditional Lenders in Agricultural Credit Markets

The strategic behavior of nontraditional lenders in agricultural credit markets is examined, Summary survey findings related to several nontraditional agricultural credit suppliers are presented; resourcebased strategy concepts are introduced to evaluate the competitive implications of nontraditional lending programs. The potential advantages conferred by firms' resource bases are illustrated with descriptions of the difference among lenders of the functional areas of intermediation (funding, delivery, regulatory compliance, risk‐bearing capacity, underwriting) and how these relate to competitive advantages. Finally, managerial, sector‐level, and customer implications are discussed. ©1994 by John Wiley & Sons, Inc.