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Access to bank financing for companies 2018Q2

Published on 07/16/2018
VSEs gained access to cash credit more easily
  • Demand for new credits was stable for SMEs as for VSEs. Anticipating a bank refusal was rare: less than 2% of entrepreneurs censored themselves..
  • Cash credit supply for SMEs remained overall easy: 87% of SMEs' requests of cash credits were fully or almost fully granted over the first quarter. Access to investment loans remained larger: 95% of SMEs were fully or almost fully served. For equipment loans more specifically, access stayed also at a high level (89%).
  • Access to cash credits for VSEs grew significantly: 73% of VSEs were granted their requests, thus reaching the highest rate measured since Q4 2014. Access to investment loans on the other hand, decreased slightly, after several quarters of growth: 84% of VSEs requests were fully or almost fully satisfied (87% in Q1 2018).
Financing requests and grants for SMEs and VSEs*
*in %; except for the use of credit lines earlier granted
Cash credits
Investment loans
Source: Banque de France (Directorate General of Statistics) and FCGA
Scope: Enterprises with real decisional autonomy regarding requests for credit; SMEs: 10 - 249 employees; VSEs: 0 - 9 employees


The Banque de France carries out a quarterly survey on the access to bank financing of companies. 4,000 small and medium-sized companies (SMEs) and 400 mid-tier companies (MTEs) have answered; as well as 2,500 very small companies (VSEs) thanks to a partnership with the
Fédération des Centres de Gestion Agréés (small firms authorised management centers federation).
Additional information
1- Small and medium-sized enterprises (SME: 10 - 249 employees)
provided by Banque de France
  • SMEs can apply for credit lines that remain available over the year, most of the time at the beginning of the year, and/or for various types of cash facilities during the year.
  • The proportion of SMEs applying for credit lines remained stable at 37%. These requests were widely granted.
  • 63% of SMEs mobilized credit lines this quarter, after 60% in previous quarter.

  • Regarding new loans - excluding the use of available credit lines - :
  • Demand for new cash credits grew slightly: 8% of SMEs requested a credit (7% in the previous quarter).
  • The cash credit supply remained overall easy: 87% of SMEs were fully or almost fully granted.
  • Demand for new investment loans stood at 24% for SMEs.
  • Access to investment loans remained very large. 95% of SMEs were fully or very substantially granted as in Q1.

  • Only 4% of SMEs reported a rise in the total cost of financing.
2 - Very small enterprises (VSE: 0 - 9 employees)
provided by FCGA and Banque de France
  • Demand for new financing from VSEs was almost stable for cash credits (7% after 6% in the previous quarter) and for investment loans (10% after 11% in Q1).
  • Access to cash credit grew once again: 73% of VSEs were fully or substantially granted, after 68% in the first quarter, and 65% in Q4 2017.
  • Access to investment loans , remained larger, though a slight decrease: 84% of VSEs were granted their request (fully or over 75% of the requested loans), after 87% in Q1 2018. Concerning equipment loans specifically, the supply rate reached 86%.
3 - Mid-tier enterprises (MTE: 250 - 4 999 employees)
provided by Banque de France
  • 46% of MTEs submitted requests for credit lines. 71% of those MTEs drew down available credit lines, after 70% in the fourth quarter.
  • Demand for new cash credits remained almost stable: 10% of MTEs requested cash credits this quarter, versus 9% in the previous quarter. The credit supply rate (fully or over 75% of the requested loans) bounced up at 94% after two decreasing quarters in a row.
  • Demand for investment loans grew up: 31% of MTEs requested financing, after 28% in Q1. 97% of MTEs were fully or almost fully granted. Concerning equipment loans specifically, the supply rate was also strong (88%).
  • MTEs access to private debt issuances should also be considered for this category of firms.



  • Next publication: October 15, 2018
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STAT INFO - 2nd quarter 2018

Quarterly survey on the access to bank financing of companies


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Access to bank financing for companies
  • Published on 07/16/2018
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Published on Monday, July 16, 2018