The first quarter of 2016 saw increased borrowing by small businesses, improved corporate credit ratings and growing productivity.
Farmers, retailers and manufacturing companies were the most active borrowers among small businesses, says Swedbank.
Swedbank’s loans to small businesses have more than doubled in the first quarter of this year compared to the same period a year ago, totalling €10.8 million.
“Recovering demand for long-term funding is an extremely positive sign, because in order to stay competitive companies have to pay more attention to new investments,” said the the head of the bank’s business customers office Antanas Sagatauskas.
“This year should be good for small businesses – domestic consumption remains strong, exports are expected to grow. Taking into consideration the growing need for financing, we are planning that the new financing volume will be increased by 45%,” said Sagatauskas.