Financing of microentreprises 2022Q1

Published on 31 May 2022

Credit to small business continues increasing, by 6.6% over one year
At the end of March 2022, the outstanding amount of loans to micro-enterprises reaches 375.9 billion euros, up by 6.6% year-on-year and 24.5% compared to 2020 Q1. Credit to micro-enterprises continues to increase in the first quarter, at a slower pace than the previous quarter (+5.1 billion euros after +7.0 billion euros in the fourth quarter). The outstanding amount of treasury loans decreases at around 48.3 billion euros after 48.9 billion euros in the second quarter. Equipment loans and real estate loans remain buoyant, at respectively +6.6% and +9.1%, after + 8.5% and + 9.0% in the previous quarter.
The average interest rate for credits of less than 250.000 euros in France slightly increases at 1.54%. It remains 0.4pp lower than the rate in the Eurozone.
Loans to micro-enterprises : credit type breakdown
(Outstanding amounts, EUR billions)
Outstanding amounts Yearly growth rate Two-year growth rate
Q1 2022 Q4 2021 Q1 2022 Q1 2022
Total loans 375.9 7.9% 6.6% 24.5%
Treasury loans, including factoring 48.3 2.4% -1.5% 131.0%
Equipment loans 151.3 8.5% 6.6% 14.6%
Real estate loans 176.2 9.0% 9.1% 18.4%
Micro-enterprises loans outstanding changes
(EUR billions)
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 2022
Micro-entreprise financing
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