"Boom" of loans for investment financing - BoA: For the small and medium segment, banks eased lending standards
It was easier for small and medium-sized businesses to get a loan in the first quarter of the year, and this easing of lending standards is expected to continue in the second quarter. Data from the Central Bank's latest survey of lending activity in the country show that lower costs and balance sheet constraints have led banks to be more tolerant in terms of granting loans to this segment of businesses.
The opposite occurred with large businesses, for which lending standards for financing investments and covering liquidity needs did not change and will not be eased in the second quarter. This tightening stems from banks' perception of the risk to the borrower's solvency and the collateral required, as well as banks' lower tolerance for risk.
On the other hand, the terms and conditions of the loan, which refer to the terms and conditions of the approved loan as defined in the loan contract, agreed upon between the bank and the borrower, which vary by each borrower's profile and may differ from the credit standards, remained unchanged for all businesses.
In the first quarter of the year, there was a high demand for credit from businesses. Businesses have requested more credit as a result of higher needs for financing investments and working capital inventories. Also, in the judgment of banks, the general level of interest rates and the business confidence indicator supported the expansion of credit demand.
However, this high demand has been met with a lower rate of loan approval by banks. Factors that contributed to the increase in business loan rejections were the credit history of the business, disposable income, and financial statements.
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