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The availability of bank loans to small and medium-sized enterprises or SMEs in the euro area deteriorated in the second half of 2009, results of a survey conducted by the European Central Bank showed Tuesday.
ECB said 42% of SMEs reported a deterioration in loan availability in the second half compared with 43% in the first six months. Meanwhile, 10% saw an improvement in the second half, unchanged from the first half. There was a less negative assessment of the availability of bank loans by large firms, the central bank said.
The survey, conducted between November 19 and December 18 covering 5,320 firms in the euro area, found that half of the SMEs reported an unchanged need for bank loans, while a quarter of them reported an increased need and slightly less than 10% a reduction, compared with the preceding six months.
A large majority, 75%, of SMEs reported that they had received either the full amount or a part of the bank loans they had applied for, compared with 77% in the first half of 2009. Bank loan application success remained stable for large firms.
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