A CNI survey shows that, for 25% of institutions, the requirements for real guarantees make it difficult to access credit
A survey by CNI (National Confederation of Industry) showed that 71% of companies cite high interest rates as the main difficulty in accessing credit in the short or medium term. Selic has been at 13.75% since August 2022 and has been one of the main clashes between the government’s economic team and BC (Central Bank).
Another 25% indicate that the banks’ requirements for real guarantees are the biggest obstacle to financing. Already 16% criticize the lack of lines of credit adequate to the needs of their company. The survey heard from 2,022 businessmen from March 1st to 9th about credit conditions in the period from September 2022 to February 2023. full of the search (1 MB).
According to “Special Survey Credit Access Conditions” from the CNI, 47% of companies did not renew their short or medium-term financing, compared to 28% who took out a new line of credit. Only 6% were unable to obtain new financing.
For companies that sought credit, 60% was earmarked for payments to suppliers, expenses and the acquisition of raw materials. Another 21% were aimed at innovations or the development of new products.
According to the survey, working capital is cited as the main purpose of short to medium term operations (60%). As for long-term operations, it is tied with investments in machinery or equipment, each mentioned by 28% of respondents.
The solution for the difficulty of accessing credit for 30% of the interviewed businessmen is the reduction of tax and administrative costs, for example, the IOF (Tax on Financial Operations).
Other measures to facilitate access to credit for companies are the expansion of public lines of credit and the simplification of bank requirements.
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