Loans for companies. The banks have already “tightened the screw” and the needs remain unchanged
The most noticeable effects were minor increases in financing prices. Companies as a whole reported an increase in interest rates bank loans by 2 percentage points. It was SMEs who most often mentioned higher percentages, while among large companies it was 3%. it even showed a decline in interest rates. In parallel loan-related costs increased: fees, commissions and other charges were more likely to go up than down (by 23% on a net basis, compared to 16% in the previous quarter).
Banks were also more likely to expect stronger security — 16 percent companies reported higher security requirements, compared to 11 percent in the second quarter.
The demand for loans has not accelerated, but it has not weakened either
In net terms, the need for a bank loan did not change compared to the previous quarter, and the availability of credit decreased symbolically to -1%. with +1 percent As a result, the financing gap indicator (the difference between need and availability) moved from -1 to +1 percent. It's a minor change, but signals that obtaining a loan may be slightly more difficult than in spring.
Looking ahead to the next three months, companies expect the availability of external financing to remain roughly where it is today – less optimistic than in the previous round of the survey, but with no signs of a bottleneck.
Read also: A new bank is entering Poland. What will one of the European leaders offer customers?
What stands in the way of financing?
Entrepreneurs still point primarily to the general economic situation. In this aspect, 19 percent companies found that it worsened access to external money, slightly more than the quarter before. At the same time, there is a slight deterioration in the assessment of companies' own prospects – sales and profits – as a factor influencing banks' decisions.
On the banks' side, the signals are mixed. The willingness to grant loans is still positive, but weaker than in the previous survey.
In terms of current business, companies reported no increase in turnover in the last three months. The average was zero, while the quarter before was positive. Net profits have deteriorated, but investments have increased – 8 percent companies increased their expenditures, in line with previous plans. The mood for the next quarter is moderately good – 25%. looks into the future with optimism, although the willingness to undertake new investments is slightly lower than in the previous quarter.
They remain in the background of these changes stable inflation expectations. The median expected inflation for one year is 2.5%, and for three and five years – 3.0%. Importantly, over a five-year horizon, most companies still see a greater risk that inflation will be higher than lower. Such an upward tilt was indicated by 53 percent. respondents, practically the same number as the quarter before.
What does all this mean for the average entrepreneur? If you are planning a loan, be prepared for slightly higher interest rates, possible additional fees and stronger security requirements. However, this is not a change that will overturn the table. Access to financing has essentially not closed. In practice, solid preparation will become more important, including up-to-date financial statements, a clear cash flow plan, a sensible investment scenario and provisions for higher costs.
