Financement des entreprises en sortie de crise : où en est-on ?

Business access to credit – 2022Q1



Posted on 03/05/2022

Credit applications are stable and well served

Requests for new cash loans remain at a low level, confirming the return to pre-crisis levels. Investment loan applications are also stable, slightly below their pre-crisis level. These requests continue to be well served, with high success rates.

The Banque de France conducts a quarterly survey of companies on their access to bank financing; approximately 4,000 SMEs and 500 ETIs responded, as well as 2,500 VSEs thanks to a partnership with the Federation of Approved Management Centers (FCGA). NB: only bank loans are considered here; ETIs also have access to the private securities market, which offers them additional sources of financing not described in this survey.

Data not corrected for seasonal variations, in %; excluding use of credit lines previously obtained
Scope: Companies with decision-making autonomy in terms of credit application: VSE: 0 – 9 employees; SME = 10 – 249 employees; ETI = 250 – 4999 employees
Note: given the size of the ETI sample, the results should be interpreted with caution.

New cash credits

In Q1 2022, requests for new cash loans maintain the low level to which they have returned for several quarters: 4% of TPE, 4% of SME and 6% of ETI have applied within the last three months. The rate ofobtaining these new credits in proportion to the requests (in full or more than 75%) increases by one point for TPE this quarter to 80%, while it fell by 3 points for SME, with 87% of them having obtained the requested credits.

New investment credits

The requests for new investment loans are stabilizing at slightly lower levels than before the crisis, with 8% of TPE 18% of SME and 25% of ETI having made a request. The drop rate remain high and up slightly for these credits, with 89% of requests satisfied (in full or more than 75%) for TPE97% for SME. the drop rate for the ETI loses 3 points this quarter, at 95% of obtaining the requested credits.

For their operational needs, the SME and the ETI can call on their bank to obtain, often at the beginning of the year, lines of credit giving them the right to draw during the year.

The share of SME having asked for lines of credit over the past 12 months remains stable at 29%. From ETI , 36% made requests, a decrease of 2 points compared to the previous quarter. These requests are always largely satisfied (in full or more than 75%), in 95% of cases for SME and 97% of cases for ETI.44% of SME have mobilized lines of credit this trimester. From ETI53% drew on their lines of credit.

2 – Obtaining new equipment credits

From investment loansthem equipment credits are intended to finance intangible or tangible fixed assets, excluding real estate.

the drop rate of the equipment credits (in full or more than 75%) increases slightly for TPE at 90% as well as for ETI at 85%. The rate of obtaining equipment loans for SMEs fell by one point, to 90%.

3 – Evolution of the cost of credit

This quarter, the

balance on cost of credit* for the SME as for the ETI drops steeply to become negative. Thus, more companies reported an increasing cost of credit than a decreasing cost of credit during the first quarter of 2022.

This should be linked to the rise in corporate interest rates observed in March.

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Business access to credit

Posted on Tuesday, May 3, 2022

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