Access to bank financing for companies 2023Q3
Published on 16 November 2023
SMEs and MTEs report stable and well-served credit applications
- The proportion of companies applying for new loans was stable overall in Q3 2023, with a slight increase in loans applied for by SMEs.
- Obtention rate remained high in spite of a slight tightening for investment loans.
- The proportion of SMEs reporting an increase in the cost of credit stabilized in Q3.
The Banque de France carries out a quarterly survey on the access to bank financing of companies. Around 4,000 small and medium-sized companies (SMEs) and 500 mid-tier companies (MTEs) have answered, data on VSEs have been excluded from publication this quarter due to the small size of the usable sample. NB: bank credits alone are examined in this survey; MTEs have access to private financing options, which provides them with financing solutions not covered by this survey.
Data not seasonally adjusted, in %; excluding use of previously granted credit lines
Scope: companies with autonomy to decide on credit applications: VSE = 0 - 9 employees; SME = 10 - 249 employees; MTE = 250 - 4999 employees
Scope: companies with autonomy to decide on credit applications: VSE = 0 - 9 employees; SME = 10 - 249 employees; MTE = 250 - 4999 employees
New investment loans
- The proportion of companies having requested new credits (see graph 1 in the above figure) fell slightly in Q3 2023 for SMEs, with 19% of them having applied for this type of credit compared with 21% in the previous quarter. It increased slightly for MTEs, to 27% versus 25% in Q2.
- Obtention rates for these loan applications fell narrowly but remained high: 95% of SMEs and 97% of MTEs that applied for a loan obtained all or more than 75% of it (see graph 2).
New cash credits
- The proportion of companies having requested new credits (see graph 3) remained stable at a low 5% for SMEs and rose slightly for MTEs to 8% from 6% in the previous quarter.
- Obtention rates for this type of credits were up a little for both SMEs and MTEs. 85% of SMEs and 92% of MTEs who applied for this type of credit obtained all or more than 75% of it (see graph 4).
Additional information
1 - Credit lines
For operating needs, SMEs and MTEs can apply (usually at the beginning of the year) for credit lines giving them drawing rights over the year.
- Requests remained stable for both SMEs and MTEs: 34% of SMEs and 45% of MTEs have made a request in the last 12 months.
- These requests were still largely satisfied (fully or more than 75%), in more than 95% of cases for SMEs and MTEs.
- 53% of SMEs drew on credit lines this quarter, the same proportion as last quarter. 65% of MTEs drew on their credit lines, up 2 points compared to Q2 2023. .
2- Supply rate for equipment loans
Among investment loans, equipment loans are intended to finance intangible or tangible assets, excluding real estate.
- The Obtention rate for equipment loans remained high for all company sizes: 92% of SMEs and 96% of MTEs who applied for this type of loan obtained it (fully or at more than 75%).
3- Evolution of the cost of credit
- In Q3 2023, the proportion of companies reporting an increase in the overall cost of credit compared with their previous credit applications continued to rise, but to a lesser extent than in previous quarters.
- 63% of SMEs and 79% of SMBs reported an increase in the cost of credit obtained compared to their previous applications.
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