"Traditional banks have made lending to businesses more expensive at a record 70%."
The data have been devastating in the final stretch of 2022. Traditional banks have increased the cost of credit to companies at a record rate of 70%. The price of new loans has risen to the highest level since the end of 2014 and SMEs, which account for more than 90% of the business fabric, are paying the most.
For transactions between EUR 250,000 and EUR 1 million, banks have increased the price of loans to the November 2014 high of 3.09%. For loans of more than one million, an interest rate of 2.95% is applied.
For its part, the Bank of Spain itself has been warning of the possible liquidity tensions that companies may face due to economic stagnation in the coming months. In some sectors, in fact, such as real estate, developers and builders, and businessmen in general, have been drawing attention to the difficulties of accessing capital to finish paying for land, to start building work or to acquire assets that may be in a high percentage but unfinished in their execution.
It is this scenario that is further opening the stage for the growth in market share of alternative finance. From DEXTERas private equity managers and intermediaries, its Director of the Risk Department, José Enrique Chasserot, emphasises that "The rise in interest rates of traditional banks has brought us closer, from the point of view of the financial cost of operations, fundamentally in real estate. The consequence is clear: more and more clients are opting for the innumerable advantages of working with investment funds, and are inclined to start their developments with us".he concluded.
