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Access to bank financing for companies 2018Q3

Published on 10/25/2018
Access to credit remained high for VSEs
  • Demand for new credits was stable for VSEs, and went slightly down for SMEs.
  • Cash credit supply for SMEs remained overall easy: 84% of SMEs' requests of cash credits were fully or almost fully granted (87% in previous quarter). Access to investment loans, even larger, is flat at 95%. For equipment loans more specifically, access stayed also at a high level (89% as in the second quarter).
  • After a sharp increase in the first semester, access to cash credits for VSEs went back this quarter to the average level measured since 2014. 65% of VSEs were granted their requests (against 73% in the second quarter). Access to investment loans remained high: 85% of VSEs requests were fully or almost fully satisfied (84% in previous quarter).
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 reached 36%. These requests were widely granted.
  • 63% of SMEs mobilized credit lines this quarter, as in previous quarter.

  • Regarding new loans - excluding the use of available credit lines - :
  • Demand for new cash credits grew slightly: 6% of SMEs requested a credit (8% in the previous quarter).
  • The cash credit supply remained overall easy: 84% of SMEs were fully or almost fully granted, after 87% in the second quarter.
  • Demand for new investment loans stood at 23% for SMEs.
  • Access to investment loans remained very large. 95% of SMEs were fully or very substantially granted as in previsous quarter.

  • 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 stable for cash credits (7%) and for investment loans (10%).
  • Access to cash credit went back this quarter to the average level measured since 2014. 65% of VSEs were granted their requests, after peaking at 73% in the second quarter.
  • Access to investment loans , broader, remains overall easy: 85% of VSEs were granted their request (fully or over 75% of the requested loans), after 84% in Q3 2018. Concerning equipment loans specifically, the supply rate reached 82% (against 85% in the previous quarter).
3 - Mid-tier enterprises (MTE: 250 - 4 999 employees)
provided by Banque de France
  • - 46% of MTEs submitted requests for credit lines. 66% of those MTEs drew down available credit lines, after 72% in the second quarter.
  • Demand for new cash credits remained almost stable: 11% of MTEs requested cash credits this quarter, after 10% in the previous quarter. The credit supply rate (fully or over 75% of the requested loans) shrank to 91% after 96% in the second quarter.
  • Demand for investment loans decreases: 28% of MTEs requested financing, after 31% in Q2. 98% of MTEs were fully or almost fully granted. Concerning equipment loans specifically, the supply rate was also strong (91%).
  • MTEs access to private debt issuances should also be considered for this category of firms.



  • Next publication: January 18, 2019
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STAT INFO - 3rd quarter 2018

Quarterly survey on the access to bank financing of companies


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Access to bank financing for companies
  • Published on 10/25/2018
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Published on Thursday, October 25, 2018