The proportion of unsuccessful loan applications by SMEs has risen with the economic crisis

The economic crisis has made it more difficult for small and medium-sized enterprises (SMEs)1 to access bankingcredit. The proportion of unsuccessful loan applications2 rose between 2007 and 2010 in 19 of the 20 Member States for which data are available. The largest increases in unsuccessful loan applications were observed in Bulgaria (from 3% in 2007 to 36% in 2010), Ireland (from 1% to 27%) and Latvia (from 4% to 26%). Unsuccessful applications fell only in Sweden (from 9% to 6%).

In 2010, the highest percentages of unsuccessful applications were found in Bulgaria (36%), Ireland (27%), Latvia (26%), the Netherlands (23%), Lithuania and the United Kingdom (both 21%), and the lowest in Finland (0.2%), Malta (2%), Cyprus and Poland (both 4%) and Italy (5%). These data3 are issued by Eurostat, the statistical office of the European Union, and are based on a survey covering 25 000 businesses across the EU, also including information on fast-growing enterprises, the future financing needs of SMEs and perceived factors limiting business growth in the future.

These data are released in connection with the European SME week 20114 which takes place on 3-9 October in 37 European countries.

The economic crisis has made it more difficult for small and medium-sized enterprises (SMEs)1 to access bankingcredit. The proportion of unsuccessful loan applications2 rose between 2007 and 2010 in 19 of the 20 Member States for which data are available. The largest increases in unsuccessful loan applications were observed in Bulgaria (from 3% in 2007 to 36% in 2010), Ireland (from 1% to 27%) and Latvia (from 4% to 26%). Unsuccessful applications fell only in Sweden (from 9% to 6%).

In 2010, the highest percentages of unsuccessful applications were found in Bulgaria (36%), Ireland (27%), Latvia (26%), the Netherlands (23%), Lithuania and the United Kingdom (both 21%), and the lowest in Finland (0.2%), Malta (2%), Cyprus and Poland (both 4%) and Italy (5%). These data3 are issued by Eurostat, the statistical office of the European Union, and are based on a survey covering 25 000 businesses across the EU, also including information on fast-growing enterprises, the future financing needs of SMEs and perceived factors limiting business growth in the future.

These data are released in connection with the European SME week 20114 which takes place on 3-9 October in 37 European countries.

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