demand for credits drops to pre-Covid level

Credit applications made by very small businesses (TPE) with fewer than ten employees have fallen to their level before the health crisis, the Banque de France reported on Wednesday.

During the third quarter of 2022, 4% of VSEs applied for cash loans and obtained at least three quarters of the amount requested in 73% of cases, according to a press release from the central bank.

A peak of 28% of companies having made a request for cash credit was reached in the second quarter of 2020, when state-guaranteed loans (PGE) were put in place.

From 11% 6%

Demand for cash loans has stabilized in recent quarters, as has the share of companies requesting investment loans, but this remains below pre-Covid levels, he said. during a press conference Marie-Laure Barut-Etherington, Deputy Director General of Statistics and International Studies at the Banque de France.

The share of VSEs having requested an investment loan thus fell from 11% during the last quarter of 2019, just before the pandemic, to 6% during the third quarter of 2022.

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With the rises in interest rates, the conditions for granting have clearly tightened, but for the moment, it does not seem to weigh on the ability of VSEs to finance themselves, estimated Ms. Barut-Etherington.

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