Financing of microentreprises 2020Q1
Published on 28 May 2020
Treasury loans to micro-enterprises continue to grow and interest rates remain contained
At end-March 2020, the outstanding amount of loans to micro-enterprises reaches EUR 312.6 billion, up 8.8% year-on-year, driven by equipment loans and short-term loans, whose annual growth rates increase compared to the previous quarter (respectively +10.2% and +5.2% after +8.4% and +1.2%). Real estate loans, for their part, continue to grow at a sustained pace (+7.9% after +8.4% in the previous quarter).
The impact of the lockdown is hardly noticeable on these quarterly data as it only comes into play at the end of the period, from mid-March onwards. The decline in total quarterly new loan production (18.3 billion, after 20.0 billion in the fourth quarter of 2019) is within the fluctuation margins often observed. The 3.6 billion increase in cash loans is noteworthy.
The average interest rate for unit credits of less than 250,000 euros remains below 2.0% (1.70%), a level that is still significantly lower than in the other major euro area countries.
The impact of the lockdown is hardly noticeable on these quarterly data as it only comes into play at the end of the period, from mid-March onwards. The decline in total quarterly new loan production (18.3 billion, after 20.0 billion in the fourth quarter of 2019) is within the fluctuation margins often observed. The 3.6 billion increase in cash loans is noteworthy.
The average interest rate for unit credits of less than 250,000 euros remains below 2.0% (1.70%), a level that is still significantly lower than in the other major euro area countries.
Loans to micro-enterprises : credit type breakdown ![]()
(Outstanding amounts, EUR billions)
| Outstanding | Yearly growth | ||
| Q1 2020 | Q4 2019 | Q1 2020 | |
| Total loans | 312.6 | 7.9% | 8.8% |
| Treasury loans, including factoring | 20.9 | 1.2% | 5.2% |
| Equipment loans | 146.1 | 8.4% | 10.2% |
| Real estate loans | 145.5 | 8.4% | 7.9% |
Micro-enterprises loans outstanding changes ![]()
(EUR billions)
Note : seasonally adjustment data for cash loans
Loans to micro-enterprises issuance ![]()
(Quarterly gross issuance, EUR billions)
Eurozone: Loans below €250,000 new issuances rate (%) ![]()
Source and design : Direction générale des statistiques, des études et de l'international
Additional information
In this data collection micro-enterprises are characterized by the criteria of the 2008 LME law - legal units excluding self-employed entrepreneurs with less than 10 employees, and which have an annual turnover or balance sheet total not exceeding 2 million euros - or by default, by a turnover not exceeding 2 million euros.
Micro-enterprises are part of small and medium-sized enterprises (SMEs).
Micro-enterprises are part of small and medium-sized enterprises (SMEs).
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FIN_MIC_ENT_2212_en__SI-Credit_Financement_des_TPE_mars_2020_EN.pdf