SMEs capture between 3% and 4% less credit than before the pandemic, according to Cepyme

MADRID, 9 Nov.

SMEs capture between 3% and 4% less credit than before the pandemic, according to Cepyme


Small businesses are capturing 3% less credit volume compared to the years prior to the pandemic (2017-2019), while the average loan stands at 33,600 euros, compared to more than 34,600 euros captured on average before the Covid, according to a report published this Wednesday by Cepyme.

In the case of medium-sized companies, new loans are 4% lower than before the pandemic, and all this, Cepyme points out, despite the fact that in 2022 "significant" increases in activity were recorded due to the end of the pandemic crisis.

In addition, Cepyme has denounced that SMEs only managed to obtain credit for 16% of their sales in the third quarter, while before the crisis an average of 22.4% of their sales was obtained from financing.

"Inflation means that the same amount of euros granted is used to finance a lower proportion of sales and this affects the need for liquidity in companies," warned the employers of SMEs.

In the third quarter of 2022, the total volume of bank credit to non-financial companies stood at 567.2 billion euros. "In a context of high inflation, in which the level of activity is marked by the narrowing of margins, the fall in business profitability and the economic slowdown, the slow evolution of credit responds to the fact that the company is suffering from a credit restriction" , emphasizes Cepyme.

The business organization has warned that the credit restriction and the worsening of the conditions of the granted financing "will worsen" in the fourth quarter of this year due to the uncertainty and the worsening of the economic perspectives.

For all these reasons, the employers' association chaired by Gerardo Cuerva has urged the Executive to relax and facilitate access to the first tranche of 5,000 million in ICO credits approved in March to help companies face the increase in costs, as well as to implement a comprehensive plan of support to the company to alleviate liquidity problems.

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