Financing of microentreprises 2021Q1

A sustained growth of loans to micro-enterprises

At the end of March 2021, the outstanding amount of loans to micro-enterprises reaches 354.4 billion euros, up by 17.4% year-on-year. The outstanding amount of treasury loans reaches 50.0 billion euros after 47.7 billion euros in the previous quarter. They continue to increase in the fourth quarter (+2.3 billion euros), slightly more than in the third quarter (+1.8 billion euros). Equipment loans and real estate loans remains buoyant, at respectively +8.0% and +8.7%, after + 5.9% and + 8.2% in the previous quarter.
The average interest rate for credits of less than 250.000 euros in France slightly decreases to 1.47%. It remains 0.5% lower than the rate in the Eurozone.
Loans to micro-enterprises : credit type breakdown
(Outstanding amounts, EUR billions)
Outstanding amounts Yearly growth rate
Q1 2021 Q4 2020 Q1 2021
Total loans 354.4 16.1% 17.4%
Treasury loans, including factoring 50.1 142.5% 139.4%
Equipment loans 142.5 5.9% 8.0%
Real estate loans 161.8 8.2% 8.7%
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).
More information on: long time series, calendar, methodology
All statistical series released by Banque de France are available at Webstat Banque de France
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STAT INFO - March 2021
Micro-entreprise financing
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Financing of microentreprises
  • Published on 06/01/2021
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Published on Tuesday, June 1, 2021