A Creditless Recovery: financing alternatives for Spanish companies

07th December of 2012

  • - SME borrowing has been down 15% since 2006 due to a lack of bank credit.
  • - The 30% of credit applications by Spanish SMEs have been partially or totally denied. In Germany, it barely reaches 10%.
  • - The success of private debt markets in Germany or Japan draw slains with a possible economic recovery by the Spanish SME.
  • - About 800 medium-sized companies in Spain have the profile that would allow them to go to a private debt issuance market similar to the one that was successfully created in Germany in 2010.