ECB rejects 27% of loan applications from Greek firms

According a survey conducted by the European Central Bank, 27% of loan applications filed by Greek firms were rejected…

According a survey conducted by the European Central Bank, 27% of loan applications filed by Greek firms were rejected, illustrating the dire financial conditions that many Greek SMEs are facing.

The ECB survey further also points out that 29% of Greek SMEs do not even consider filing a credit application out of fear of rejection.

The European Central Bank’s survey was conducted between April and September 2014, at a time when Greece’s systemic banks were being recapitalized and a series of stress tests were carried out.

The survey results are available online.

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