JDA Economic Impact Study_8.31.20_Direct Impact

The U.S. Syndicated Loan Industry’s Economic Impact Study was commissioned by the Loan Syndications & Trading Association (LSTA). This study estimates the economic contributions made by the syndicated loan industry to the U.S. economy in 2020. Both sides of the syndicated loan industry – lenders and borrowers – are represented in the analysis. John Dunham & Associates (JDA) conducted the research in concert with LSTA. This work used standard econometric models first developed by the U.S. Forest Service, and now maintained by IMPLAN. Data came from industry sources, government publications and Infogroup.


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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.

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