GITNUXREPORT 2026

Sme Lending Statistics

SME lending is booming globally but still leaves a significant financing gap.

Sarah Mitchell

Senior Researcher specializing in consumer behavior and market trends.

First published: Feb 13, 2026

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Statistic 1

Globally, 40% of SMEs lack access to formal credit, creating a $5 trillion financing gap in 2022.

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In the US, 45% of SMEs applied for loans in 2022, but 12% were denied due to credit history.

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Europe sees a 14% SME credit rejection rate, highest for young firms at 22% in 2023.

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India's SME credit gap is INR 25 trillion, with 60% of micro-SMEs unbanked in 2023.

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China has a 15% SME loan denial rate, concentrated in rural areas at 25% in 2022.

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Brazil's SME finance gap is BRL 500 billion, with 35% of firms underserved in 2022.

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UK SME loan applications saw 18% rejections in 2022, mainly due to insufficient collateral.

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In Australia, 25% of SMEs face credit constraints, widening the gap to AUD 100 billion.

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South Africa's SME credit gap is ZAR 300 billion, with black-owned firms at 50% exclusion rate.

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Japan reports 20% of SMEs credit-constrained, gap estimated at ¥40 trillion in 2022.

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35% of SMEs worldwide identify collateral as primary access barrier in 2023 survey.

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Latin America SME credit coverage at 42%, gap $400 billion in 2022.

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In Africa, only 12% of SMEs have bank loans, informal finance 55%.

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Women-owned SMEs face 24% higher rejection rates globally.

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Rural SMEs access formal credit at 18% vs 45% urban globally.

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28% of innovative SMEs denied funding due to risk aversion.

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Post-COVID, SME application rates dropped 15% due to fear.

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Digital divide excludes 40% SMEs from online lending.

Statistic 19

Emerging markets SME gap $2.1 trillion, 50% larger firms.

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In 2023, global SME lending grew by 8.2% year-over-year, driven by digital platforms contributing 15% of new loans.

Statistic 21

US SME loan growth was 12.5% in 2022, with fintech lenders growing at 25% CAGR since 2019.

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European SME lending expanded by 4.1% in 2023, projected to reach 5.5% in 2024 amid ECB rate cuts.

Statistic 23

India's SME credit growth accelerated to 15.3% in FY2023, expected to hit 18% by FY2025.

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China's SME lending grew 11.8% in 2022, with policy banks contributing 30% of the increment.

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Brazil SME loan growth was 9.7% in 2022, forecasted at 12% for 2023-2025.

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UK SME lending growth stood at 6.8% in 2022, with projections of 7-9% through 2025.

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Australia's SME credit expansion was 7.2% in 2023, driven by 20% growth in online lenders.

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South Africa SME lending grew 5.4% in 2022, projected to average 8% annually to 2027.

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Japan SME loan growth was 3.5% in FY2022, expected to rise to 4.2% by FY2025.

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Global fintech SME lending grew 22% to $300 billion in 2023 projections.

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US SME lending via platforms surged 28% YoY to $120 billion in 2022.

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German SME credit growth was 5.2% in 2023, SMEs forecast 6.8% in 2024.

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Southeast Asia SME lending projected 15% CAGR to $500 billion by 2025.

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Russia's SME loan growth hit 14% in 2022 despite sanctions.

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Egypt SME financing expanded 20% to EGP 200 billion in FY2023.

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France SME lending growth 3.9% in 2023, recovery to 5% expected.

Statistic 37

Middle East SME credit growth averaged 10.5% in 2022-2023.

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Africa SME lending projected 12% annual growth to 2028.

Statistic 39

SME lending contributed to 50% of global GDP growth from 2015-2022 via job creation.

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US SMEs receiving loans saw 15% revenue growth vs 8% for non-borrowers in 2022.

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European SMEs with bank loans had 12% lower default rates than alternative finance users.

Statistic 42

In India, MSME loans supported 12 crore jobs, with NPA ratio at 4.5% in FY2023.

Statistic 43

China's SME lending reduced unemployment by 2.1% in 2022 through expansion financing.

Statistic 44

Brazil SME credit improved firm survival rates by 18% post-2020 pandemic loans.

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UK SME borrowers reported 10% higher productivity gains from 2021-2023 investments.

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Australia SME lending backed 65% of export growth in 2022, with ROI at 14%.

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South Africa SME loans lowered default rates to 3.8% for supported firms in 2022.

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Japan SME financing via public guarantees achieved 95% repayment rate in FY2022.

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SME loans drove 60% of bank profitability in developing markets 2022.

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Borrowed SMEs grew employment 11% faster than peers in EU.

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Digital SME loans improved cash flow by 22% for recipients.

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Public SME lending schemes recovered 92% principal in OECD countries.

Statistic 53

SME credit multipliers GDP impact at 1.5x in emerging economies.

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Green SME loans boosted sustainability investments 30% in 2022.

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Financed SMEs innovation rates 18% higher per studies.

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Pandemic SME loans saved 25 million jobs globally.

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SME lending NPA recovery rates 75% with guarantees.

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Global average SME lending rate was 9.8% in 2022, 4.2% above large firm rates.

Statistic 59

US SME term loan rates averaged 7.5% in 2023, lines of credit at 6.8%.

Statistic 60

Eurozone SME interest rates hit 4.5% in 2023, up from 2.1% pre-pandemic.

Statistic 61

India's SME lending rates averaged 12.5% in FY2023, MSME priority sector at 10.2%.

Statistic 62

China SME loan rates were 5.3% in 2022, with fintech averaging 8-10% for riskier borrowers.

Statistic 63

Brazil SME credit costs reached 18.2% effective rate in 2022 due to high spreads.

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UK SME variable rates averaged 6.1% in 2023, fixed at 7.2% for 5-year terms.

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Australia SME lending rates were 7.8% in 2023, overdrafts at 9.5%.

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South Africa SME prime-linked rates averaged 11.5% in 2022, effective 13.2%.

Statistic 67

Japan SME loan rates remained low at 1.8% in FY2022, subsidized schemes at 0.9%.

Statistic 68

SME overdraft costs averaged 10.2% globally, 3x corporate.

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Emerging Asia SME rates 14.5% vs developed 5.8% in 2022.

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Collateral requirements add 2-3% to effective SME rates.

Statistic 71

Fintech SME rates 11% lower than banks for approved borrowers.

Statistic 72

Variable rate SME loans rose 25% in cost post-2022 hikes.

Statistic 73

Guarantee schemes reduce SME rates by 1.5-2% on average.

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High-risk SME segments pay 15-20% premiums globally.

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SME lending NPAs globally at 6.2% vs 2.1% large corporates.

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In 2022, the global SME lending market size was estimated at $25.6 trillion, accounting for 45% of total global business lending portfolios.

Statistic 77

US SME loan originations totaled $742 billion in 2022, with an average loan size of $450,000 for term loans.

Statistic 78

In Europe, SME lending outstanding reached €4.2 trillion in 2023, comprising 28% of total bank lending.

Statistic 79

India's SME lending volume hit INR 25 lakh crore in FY2023, up from INR 20 lakh crore in FY2022.

Statistic 80

China's SME loan balance stood at RMB 50 trillion as of Q4 2022, representing 32% of total corporate loans.

Statistic 81

Brazil's SME credit portfolio grew to BRL 1.2 trillion in 2022, with microenterprises holding 55% share.

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In the UK, SME lending approvals reached £52 billion in 2022, averaging £75,000 per loan.

Statistic 83

Australia's SME business lending outstanding was AUD 650 billion in 2023, with 60% to small firms.

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South Africa's SME loan book totaled ZAR 450 billion in 2022, 22% of total commercial lending.

Statistic 85

Japan's SME lending volume was ¥250 trillion in FY2022, accounting for 50% of bank lending.

Statistic 86

Global SME lending market projected to grow at 7.5% CAGR to $35 trillion by 2027.

Statistic 87

US non-bank SME lending reached $150 billion in 2022, 20% of total new originations.

Statistic 88

EU SME lending to manufacturing hit €1.1 trillion in 2023, 26% of sector total.

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Indonesia SME loan disbursements totaled IDR 1,200 trillion in 2022.

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Mexico's SME credit portfolio was MXN 2.5 trillion in 2022, 25% YoY growth.

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Nigeria SME lending volume reached NGN 2.5 trillion in 2022, 18% of bank assets.

Statistic 92

Canada SME outstanding loans were CAD 400 billion in 2023, averaging CAD 300k.

Statistic 93

Turkey SME lending hit TRY 2.5 trillion in 2022, 40% inflation-adjusted growth.

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Vietnam's SME credit disbursed VND 5,000 trillion in 2022, 28% of total loans.

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In 2023, Africa SME lending market valued at $200 billion.

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Southeast Asia SME loans totaled $1.2 trillion in 2022.

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While small businesses power nearly half the global economy, a staggering $25.6 trillion SME lending market reveals both their massive potential and the critical financing gaps they still face.

Key Takeaways

In 2022, the global SME lending market size was estimated at $25.6 trillion, accounting for 45% of total global business lending portfolios.
US SME loan originations totaled $742 billion in 2022, with an average loan size of $450,000 for term loans.
In Europe, SME lending outstanding reached €4.2 trillion in 2023, comprising 28% of total bank lending.
In 2023, global SME lending grew by 8.2% year-over-year, driven by digital platforms contributing 15% of new loans.
US SME loan growth was 12.5% in 2022, with fintech lenders growing at 25% CAGR since 2019.
European SME lending expanded by 4.1% in 2023, projected to reach 5.5% in 2024 amid ECB rate cuts.
Globally, 40% of SMEs lack access to formal credit, creating a $5 trillion financing gap in 2022.
In the US, 45% of SMEs applied for loans in 2022, but 12% were denied due to credit history.
Europe sees a 14% SME credit rejection rate, highest for young firms at 22% in 2023.
Global average SME lending rate was 9.8% in 2022, 4.2% above large firm rates.
US SME term loan rates averaged 7.5% in 2023, lines of credit at 6.8%.
Eurozone SME interest rates hit 4.5% in 2023, up from 2.1% pre-pandemic.
SME lending contributed to 50% of global GDP growth from 2015-2022 via job creation.
US SMEs receiving loans saw 15% revenue growth vs 8% for non-borrowers in 2022.
European SMEs with bank loans had 12% lower default rates than alternative finance users.

SME lending is booming globally but still leaves a significant financing gap.

Access and Gaps

Globally, 40% of SMEs lack access to formal credit, creating a $5 trillion financing gap in 2022.
In the US, 45% of SMEs applied for loans in 2022, but 12% were denied due to credit history.
Europe sees a 14% SME credit rejection rate, highest for young firms at 22% in 2023.
India's SME credit gap is INR 25 trillion, with 60% of micro-SMEs unbanked in 2023.
China has a 15% SME loan denial rate, concentrated in rural areas at 25% in 2022.
Brazil's SME finance gap is BRL 500 billion, with 35% of firms underserved in 2022.
UK SME loan applications saw 18% rejections in 2022, mainly due to insufficient collateral.
In Australia, 25% of SMEs face credit constraints, widening the gap to AUD 100 billion.
South Africa's SME credit gap is ZAR 300 billion, with black-owned firms at 50% exclusion rate.
Japan reports 20% of SMEs credit-constrained, gap estimated at ¥40 trillion in 2022.
35% of SMEs worldwide identify collateral as primary access barrier in 2023 survey.
Latin America SME credit coverage at 42%, gap $400 billion in 2022.
In Africa, only 12% of SMEs have bank loans, informal finance 55%.
Women-owned SMEs face 24% higher rejection rates globally.
Rural SMEs access formal credit at 18% vs 45% urban globally.
28% of innovative SMEs denied funding due to risk aversion.
Post-COVID, SME application rates dropped 15% due to fear.
Digital divide excludes 40% SMEs from online lending.
Emerging markets SME gap $2.1 trillion, 50% larger firms.

Access and Gaps Interpretation

Despite fueling half the world's economy, small businesses are routinely told to "wait here" by a financial system that demands they bring a map, a co-signer, and collateral just to get a seat at the table.

Growth Rates and Projections

In 2023, global SME lending grew by 8.2% year-over-year, driven by digital platforms contributing 15% of new loans.
US SME loan growth was 12.5% in 2022, with fintech lenders growing at 25% CAGR since 2019.
European SME lending expanded by 4.1% in 2023, projected to reach 5.5% in 2024 amid ECB rate cuts.
India's SME credit growth accelerated to 15.3% in FY2023, expected to hit 18% by FY2025.
China's SME lending grew 11.8% in 2022, with policy banks contributing 30% of the increment.
Brazil SME loan growth was 9.7% in 2022, forecasted at 12% for 2023-2025.
UK SME lending growth stood at 6.8% in 2022, with projections of 7-9% through 2025.
Australia's SME credit expansion was 7.2% in 2023, driven by 20% growth in online lenders.
South Africa SME lending grew 5.4% in 2022, projected to average 8% annually to 2027.
Japan SME loan growth was 3.5% in FY2022, expected to rise to 4.2% by FY2025.
Global fintech SME lending grew 22% to $300 billion in 2023 projections.
US SME lending via platforms surged 28% YoY to $120 billion in 2022.
German SME credit growth was 5.2% in 2023, SMEs forecast 6.8% in 2024.
Southeast Asia SME lending projected 15% CAGR to $500 billion by 2025.
Russia's SME loan growth hit 14% in 2022 despite sanctions.
Egypt SME financing expanded 20% to EGP 200 billion in FY2023.
France SME lending growth 3.9% in 2023, recovery to 5% expected.
Middle East SME credit growth averaged 10.5% in 2022-2023.
Africa SME lending projected 12% annual growth to 2028.

Growth Rates and Projections Interpretation

Despite a global chorus of interest rates and sanctions, small businesses are finding their financial oxygen increasingly through digital pipelines, proving that while capital may be cautious, innovation is on a lending spree.

Impact and Performance

SME lending contributed to 50% of global GDP growth from 2015-2022 via job creation.
US SMEs receiving loans saw 15% revenue growth vs 8% for non-borrowers in 2022.
European SMEs with bank loans had 12% lower default rates than alternative finance users.
In India, MSME loans supported 12 crore jobs, with NPA ratio at 4.5% in FY2023.
China's SME lending reduced unemployment by 2.1% in 2022 through expansion financing.
Brazil SME credit improved firm survival rates by 18% post-2020 pandemic loans.
UK SME borrowers reported 10% higher productivity gains from 2021-2023 investments.
Australia SME lending backed 65% of export growth in 2022, with ROI at 14%.
South Africa SME loans lowered default rates to 3.8% for supported firms in 2022.
Japan SME financing via public guarantees achieved 95% repayment rate in FY2022.
SME loans drove 60% of bank profitability in developing markets 2022.
Borrowed SMEs grew employment 11% faster than peers in EU.
Digital SME loans improved cash flow by 22% for recipients.
Public SME lending schemes recovered 92% principal in OECD countries.
SME credit multipliers GDP impact at 1.5x in emerging economies.
Green SME loans boosted sustainability investments 30% in 2022.
Financed SMEs innovation rates 18% higher per studies.
Pandemic SME loans saved 25 million jobs globally.
SME lending NPA recovery rates 75% with guarantees.

Impact and Performance Interpretation

While small business lending may seem like a mere financial transaction, these statistics collectively argue it is the world's most reliable economic defibrillator, consistently jolting growth, jobs, and resilience back to life with remarkably few side effects.

Interest Rates and Costs

Global average SME lending rate was 9.8% in 2022, 4.2% above large firm rates.
US SME term loan rates averaged 7.5% in 2023, lines of credit at 6.8%.
Eurozone SME interest rates hit 4.5% in 2023, up from 2.1% pre-pandemic.
India's SME lending rates averaged 12.5% in FY2023, MSME priority sector at 10.2%.
China SME loan rates were 5.3% in 2022, with fintech averaging 8-10% for riskier borrowers.
Brazil SME credit costs reached 18.2% effective rate in 2022 due to high spreads.
UK SME variable rates averaged 6.1% in 2023, fixed at 7.2% for 5-year terms.
Australia SME lending rates were 7.8% in 2023, overdrafts at 9.5%.
South Africa SME prime-linked rates averaged 11.5% in 2022, effective 13.2%.
Japan SME loan rates remained low at 1.8% in FY2022, subsidized schemes at 0.9%.
SME overdraft costs averaged 10.2% globally, 3x corporate.
Emerging Asia SME rates 14.5% vs developed 5.8% in 2022.
Collateral requirements add 2-3% to effective SME rates.
Fintech SME rates 11% lower than banks for approved borrowers.
Variable rate SME loans rose 25% in cost post-2022 hikes.
Guarantee schemes reduce SME rates by 1.5-2% on average.
High-risk SME segments pay 15-20% premiums globally.
SME lending NPAs globally at 6.2% vs 2.1% large corporates.

Interest Rates and Costs Interpretation

Small businesses worldwide are essentially paying a stubborn "size tax" for daring to exist, as evidenced by risk premiums, regional disparities, and the universal truth that being an SME means your loan will cost more, come with more strings, and be treated with more suspicion than that of any corporate behemoth.

Market Size and Volume

In 2022, the global SME lending market size was estimated at $25.6 trillion, accounting for 45% of total global business lending portfolios.
US SME loan originations totaled $742 billion in 2022, with an average loan size of $450,000 for term loans.
In Europe, SME lending outstanding reached €4.2 trillion in 2023, comprising 28% of total bank lending.
India's SME lending volume hit INR 25 lakh crore in FY2023, up from INR 20 lakh crore in FY2022.
China's SME loan balance stood at RMB 50 trillion as of Q4 2022, representing 32% of total corporate loans.
Brazil's SME credit portfolio grew to BRL 1.2 trillion in 2022, with microenterprises holding 55% share.
In the UK, SME lending approvals reached £52 billion in 2022, averaging £75,000 per loan.
Australia's SME business lending outstanding was AUD 650 billion in 2023, with 60% to small firms.
South Africa's SME loan book totaled ZAR 450 billion in 2022, 22% of total commercial lending.
Japan's SME lending volume was ¥250 trillion in FY2022, accounting for 50% of bank lending.
Global SME lending market projected to grow at 7.5% CAGR to $35 trillion by 2027.
US non-bank SME lending reached $150 billion in 2022, 20% of total new originations.
EU SME lending to manufacturing hit €1.1 trillion in 2023, 26% of sector total.
Indonesia SME loan disbursements totaled IDR 1,200 trillion in 2022.
Mexico's SME credit portfolio was MXN 2.5 trillion in 2022, 25% YoY growth.
Nigeria SME lending volume reached NGN 2.5 trillion in 2022, 18% of bank assets.
Canada SME outstanding loans were CAD 400 billion in 2023, averaging CAD 300k.
Turkey SME lending hit TRY 2.5 trillion in 2022, 40% inflation-adjusted growth.
Vietnam's SME credit disbursed VND 5,000 trillion in 2022, 28% of total loans.
In 2023, Africa SME lending market valued at $200 billion.
Southeast Asia SME loans totaled $1.2 trillion in 2022.

Market Size and Volume Interpretation

Behind the staggering global sum of $25.6 trillion, you'll find a planet stubbornly held together, economy by local economy, by a multitude of small businesses standing on credit.

Sources & References

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