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Financing of microentreprises 2019Q4

Published on 02/28/2020
Robust growth in credit to micro-enterprises


At the end of December 2019, the outstanding amount of loans to micro-enterprises reaches € 306.8 billion, up by +7.9% year-on-year. In particular, the outstanding amount of treasury loans, equipment loans, and real-estate loans continues to grow at a rapid pace (+1.2%, +8.4% and +8.4% respectively).
The total quarterly issuance of new loans amounts to €20.0 billion, up from €17.4 billion in the third quarter of 2019.
The average interest rate of loans with a unit amount of less than €250,000 remains under 2.0% (1.69%), still well below the level of the rates in other major euro area countries.

Loans to micro-enterprises : credit type breakdown
(Outstanding amounts, EUR billions)
Outstanding Yearly growth
Q4 2019 Q3 2019 Q4 2019
Total loans 306.8 8.5% 7.9%
Treasury loans, including factoring 19.7 1.4% 1.2%
Equipment loans 144.1 7.9% 8.4%
Real estate loans 142.9 10.1% 8.4%
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



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 - December 2019
Micro-entreprise financing
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Financing of microentreprises
  • Published on 02/28/2020
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Published on Friday, February 28, 2020