According to the Small Business Act (SBA) Fact Sheets, Slovenia is slightly below par in this area, and shows no signs of catching up. The general credit conditions and standards applied to SME borrowers by banks seem to have tightened up from 2009 to 2011. Although the proportion of rejected loans has decreased significantly, from 19% in 2009 to 7% in 2011, an increasing proportion of Slovenian business owners say they have noticed deterioration in the banks' willingness to provide loans. This might suggest that the continuing tightening of standards applied to borrowers has discouraged many entrepreneurs from applying for a loan. At the same time, the conditions for accessing public financial support, including guarantees, have also become more restrictive. Similarly, the cost of credit for small businesses in 2011 was 14% higher than for larger enterprises, but the gap has not widened since 2009, which is the case for many other EU countries.
In April 2012, the Slovene Enterprise Fund continued the implementation of a measure aimed to encouraging innovative start-ups with growth potential through co-financing certain types of expenses (with a budget of 0.8 million EUR). To be eligible for this measure, an SME must be a member of a technology park or a business incubator (other conditions apply).
Slovene Enterprise Fund continues with providing efficient support for SMEs in the form of guarantees for bank loans with subsidies of interest rate (in 2011 the Fund provided 62,5 mio EUR for guarantees and 7,3 mio EUR for subsidies of interest rate, thus supported 351 projects of SMEs) also in 2012. Through the Holding fund SEF runs also the Venture capital instrument as a special instrument to develop the VC market and to gain strong support for young innovative companies with great growth potential.
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|Key indicators on access to finance|
For details on SMAF index and methodology please click here.
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Source: Chart compiled using ECB data
Note: Loan volumes and interest rate data for 2012 are to the period September 2012 only (due to data availability as at November 2012).
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|Business angels finance|
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Appendix: ACTIONS SUPPORTING ACCESS TO FINANCE FOR SMEs (PDF) [379 KB]