Credit conditions for small and medium-sized enterprises remained broadly stable in the second quarter of 2026, according to a survey released by the Hong Kong Monetary Authority on Monday.
This survey polls about 2,500 SMEs across various economic sectors to monitor credit availability from a demand-side perspective.
Among the surveyed SMEs, 78 percent perceived banks' credit approval stance as "similar" or "easier" compared to six months ago, up from 73 percent in the previous quarter. Meanwhile, 22 percent viewed the stance as "more difficult," down from 27 percent in the prior quarter.
Regarding new credit, three percent of respondents indicated they had applied for new bank loans in the second quarter. Among those who already knew their application outcomes, 85 percent reported fully or partially successful applications, down from 91 percent in the previous quarter.
Among SMEs with existing credit lines, four percent reported a "tighter" stance from banks, up from zero percent in the previous quarter.
The HKMA noted that a perception of tighter credit approval does not necessarily mean SMEs are facing actual borrowing difficulties, as views can be influenced by a variety of external factors, such as media reports, general business conditions, and families or friends’ opinions.
Owing to the small sample sizes—representing just 15 percent of surveyed SMEs with existing credit lines and three percent with new credit applications—the HKMA cautioned that these specific results are prone to large fluctuations and should be interpreted with care.
