Survey on the access to finance of small and medium-sized enterprises in the euro area – October 2015 to March 2016

The European Central Bank (ECB) published in June 2016 its 14th report on the results of the 'Survey on the access to finance of enterprises' (SAFE). The report mainly provides evidence on changes in the financial situation, financing needs and access to financing of SMEs in the euro area in the six months from October 2015 to March 2016, as well as comparing the situation of SMEs with that of large enterprises.

Euro area SMEs considered access to finance the least important problem that they faced (10%, down from 11% in the previous round), although results differ across countries. Finding customers remains their main concern (27% of respondents, up from 25% in the previous round). On balance, a net 1% of SMEs reported an increase in their need for bank loans (unchanged from the previous survey round). For the third consecutive period, SMEs reported, on balance, an improvement in the availability of bank loans, a further fall in interest rates and an increase in the available size and maturity of loans and overdrafts. Of the 30% of SMEs that had applied for a loan, 68% received the full amount requested and 8% reported that their applications had been rejected.

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ECB: Press Release, 01.06.16: Report on the results of the Survey on the Access to Finance of Enterprises in the Euro Area – October 2015 to March 2016 https://www.ecb.europa.eu/press/pr/date/2016/html/pr160601.en.html

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