Financing of microentreprises 2021Q3
Published on 30 November 2021
Over one year, credit to small business increases by 7.5 %
At the end of September 2021, the outstanding amount of loans to micro-enterprises reaches 364.6 billion euros, up by 7.5% year-on-year and 24.7% compared to 2019. They continue to increase in the second quarter, but at a slower pace than the previous quarter (+3.4 billion euros after +7.1 billion euros in the first quarter). The outstanding amount of treasury loans slightly decreases at 49.2 billion euros after 50.5 billion euros in the previous quarter. Equipment loans and real estate loans remains buoyant, at respectively +7.4% and +7.7%, after + 9.6% and + 8.4% in the previous quarter.
The average interest rate for credits of less than 250.000 euros in France slightly increases at 1.52%. It remains 0.4pp lower than the rate in the Eurozone.
The average interest rate for credits of less than 250.000 euros in France slightly increases at 1.52%. It remains 0.4pp lower than the rate in the Eurozone.
Loans to micro-enterprises : credit type breakdown ![]()
(Outstanding amounts, EUR billions)
| Outstanding amounts | Yearly growth rate | Two-year growth rate (compared to 2019) | ||
| Q3 2021 | Q2 2021 | Q3 2021 | Q3 2021 | |
| Total loans | 364.6 | 10.5% | 7.5% | 24.7% |
| Treasury loans, including factoring | 49.2 | 21.5% | 7.2% | 145.0% |
| Equipment loans | 147.6 | 9.6% | 7.4% | 15.2% |
| Real estate loans | 167.7 | 8.4% | 7.7% | 16.4% |
Micro-enterprises loans outstanding changes ![]()
(EUR billions)
Loans to micro-enterprises issuance ![]()
(Quarterly gross issuance, EUR billions)
Eurozone: Loans below €250,000 new issuances rate (%) ![]()
Source and design : Direction générale des statistiques, des études et de l'international
Additional information
In this data collection micro-enterprises are characterized by the criteria of the 2008 LME law - legal units excluding self-employed entrepreneurs with less than 10 employees, and which have an annual turnover or balance sheet total not exceeding 2 million euros - or by default, by a turnover not exceeding 2 million euros.
Micro-enterprises are part of small and medium-sized enterprises (SMEs).
Micro-enterprises are part of small and medium-sized enterprises (SMEs).
Download the PDF version of the document
FIN_MIC_ENT_2231_en__SI-Credit_Financement_des_TPE_novembre_2021_EN.pdf
Updated on 29 November 2021