Small and medium-sized enterprises (SMEs) and entrepreneurs have confronted a series of shocks in recent years, impacting their access to finance. While financing conditions have eased in many economies following a period of monetary tightening, borrowing costs for SMEs remain high relative to pre-pandemic levels, and banks continue to apply stringent lending terms amid economic uncertainty.
Financing SMEs and Entrepreneurs 2026: An OECD Scoreboard monitors SME and entrepreneurship financing trends, conditions and policy developments in close to 50 countries. It shows that while new lending to SMEs has begun to recover, the overall stock of SME loans remains broadly stagnant. This sluggish growth in SME credit is weighing on firm liquidity and investment, with implications for competitiveness. Other types of finance, including factoring and leasing, show mixed performance, and the rebound in equity financing has been concentrated in a limited number of large deals in artificial intelligence. In light of these challenges, Fintech-driven and non-bank finance is playing a growing role in the SME financing mix. The Scoreboard showcases a number policy efforts to diversify SME financing, including the implementation of tech models in asset-based financing and support for venture capital markets.