2023-10-02 13:47:15
Monday, October 2, 2023, 1:47 p.m.
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Companies, just like families, are finding serious difficulties in accessing bank financing in a scenario of sky-high inflation and increasingly expensive loans. To the point that the average interest rate on new bank loans has practically tripled in the last year, going from 1.62% in the second quarter to 4.45% in the same period of this year, which It represents the highest cost of the last decade. This is what the employers’ association of small and medium-sized companies warns in its latest edition of the Cepyme Indicator on the situation of Spanish SMEs published this Monday.
This more expensive and adverse financial climate is causing, in turn, a restriction on commercial credit between companies. In the second quarter, commercial credit from SMEs to their clients was equivalent to 58.7% of sales, well below the 64.3% corresponding to the 2016-2019 period. All in all, SMEs have reduced their credit to clients by around 17,000 million euros in the second quarter compared to the pre-pandemic four-year period.
Due to this context, the number of invoices that are paid after the 30-day period has risen to 11.7% in the second quarter of this year, a percentage two points higher than that registered in the same period of 2019. Despite the deterioration of the payment chain, 90% of SMEs’ invoices were paid in less than 30 days.
The annualized financial effort for a small company reached 22,400 euros in the second quarter, almost triple the 7,900 euros in the second quarter of 2022. Also during the last twelve months, the financial effort in medium-sized companies multiplied by three, from 173,900 at 567,400 euros.
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