in the third quarter, banks approved only 37% of applications for SME loans – Kommersant

In the third quarter of 2023, only 37% of loan applications from small and medium-sized businesses were approved by Russian banks. This follows from a study by analysts of the financial marketplace Compare.

The majority of loan applications came from trade representatives – 42% of the total number of applications. In second place are representatives of the construction industry (27%). About 10% of applications were submitted by companies operating in the service and transport sectors.

The average size of the requested loan was about 10 million rubles. However, the average size of loans issued is three times less – about 3.6 million rubles. The average loan term was 36 months.

Small and medium-sized businesses were most often denied loans due to lack of profit, lack of accounting and tax accounting, turnover on the current account and a short registration period.

As a rule, loans for small businesses were requested in Moscow (31.4%), St. Petersburg (6.8%), Krasnodar (3.7%), Omsk (3.6%), Samara and Yekaterinburg (2. 8% of applications).

The most popular purposes for lending to small businesses are business development (10.7% of applications), preferential programs for SMEs (6.7%), as well as loans for any purpose (4.5%). Among the various purposes, the leading requests are for financing to expand the business (10.7% of applications), provide working capital or obtain a revolving credit line.

Over the year, bank rates for small businesses increased by 14%. If at the beginning of the year the standard rate was 11–15%, then after the Central Bank increased the rate, banks raised it to 15–17% per annum, and then to 25%.

Leasing programs have become an alternative to lending for small and medium-sized businesses this year. The average amount of requested leasing was RUB 9.4 million, and the amount of leasing issued was RUB 8.2 million. The top 3 categories of property for leasing included cars, trucks, and special equipment.

According to data RSBI index, sentiment in the SME sector deteriorated in October, despite the fact that performance indicators were in the growth zone. Expectations for earnings and continued availability of debt financing have worsened. According to RSBI, due to the increase in the key rate, fewer entrepreneurs were able to obtain loans in October.

How small businesses felt the cooling of the economy – read the material “The business climate forecast is adequate”.

Anastasia Larina