Press Release: Commission to take on bottlenecks to financing of SMEs

Data from the European Commission and European Central Bank indicates that bank credit standards are still tight, net demand for loans from enterprises have declined and almost 20% of SMEs’ bank loan applications are rejected. The SME Finance Forum 2010 being held in Brussels on 6 May 2010 focuses on new strategies for improving access to finance for SMEs. To address the difficult financing situation of SMEs, Vice-President Antonio Tajani, Commissioner for Industry and Entrepreneurship, in agreement with Michel Barnier, Commissioner for Internal Market and Services, has proposed to upgrade the SME Finance Forum into a high-level dialogue between financial institutions and SMEs. It will monitor market developments and will recommend concrete actions to improve access to finance and the financial markets for SMEs.

European Commission: Memo: MEMO/10/167: Latest trends in SMEs access to finance and EU financial instruments http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/167&format=HTML&aged=0&language=EN&guiLanguage=en

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