ECB report on access to finance of SMES in the euro area
The European Central Bank (ECB) is today publishing its seventh report on the results of the "Survey on the access to finance of small and mediumsized enterprises (SMEs) in the euro area".
This survey round was conducted between 3 September and 11 October 2012, covering a sample of 7,514 firms in the euro area.
The report mainly provides evidence on changes in the financial situation, financing needs and access to financing of SMEs in the euro area, compared with large firms, during the preceding six months (i.e. from April to September 2012).
In addition, it provides an overview of developments in SMEs' access to finance across euro area countries.
At the same time, the survey results show that access to bank loans continued to deteriorate; on balance, firms reported a worsening in the availability of bank loans (-22%, compared with -20% in the previous survey round). Moreover, the survey results point to somewhat higher rejection rates when applying for a loan (15%, up from 13%).