The Banco de España reports on 4 November 2026 that access to bank financing for companies in Spain continued to improve in the third quarter of 2026, although only slightly and less strongly than in the second quarter. The assessment is based on the latest national analysis of the SAFE survey, which is consistent in substance with the full report published by the European Central Bank on 26 October.
According to the Banco de España, the improved availability of bank loans is primarily attributable to banks’ greater willingness to lend. At the same time, an unfavourable assessment of the overall economic situation and company-specific factors weighed on developments. The survey period for the company surveys ran from 26 August to 2 October 2026.
At the same time, the companies surveyed in Spain continued to report rising interest rates on bank loans. According to the data, financing costs increased for the third consecutive time and by more than in the two previous quarters. Credit availability rose only marginally. While barriers to financing fell to very low levels, according to the Banco de España, there was a slight increase in the proportion of companies that did not apply for a loan out of caution or because they expected to be rejected, as well as in the proportion that received only part of the amount requested.
The Europäische Zentralbank confirms in its summary analysis of the SAFE survey for the eurozone a further overall rise in bank-related financing costs. This is consistent with the Spanish results, which also indicate some easing in access to bank loans.
The reported findings relate to the 40th round of the SAFE survey on financing conditions for small, medium-sized and larger companies. The Banco de España notes that the current trend reflects opposing forces: somewhat greater willingness to lend on the part of financial institutions, on the one hand, and ongoing pressure from interest rates and economic uncertainty, on the other. In the view of respondents, the impact on investment and financing decisions depends largely on how economic prospects and credit conditions develop in the coming quarters.
The news occasion is the publication of the national summary assessment by the Banco de España; the underlying European overview by the European Central Bank, entitled Survey on the Access to Finance of Enterprises was published on 26 October.
Editor: Daniel Mayer (Article created with AI assistance).