48% of Companies Report Difficulties Accessing Bank Credit: Key Insights from the 6th Fintech and Alternative Finance Business Barometer
48% of Spanish companies state that they have experienced difficulties accessing bank credit over the past twelve months. In Catalonia, the percentage is identical. This is one of the main conclusions of the 6th Fintech and Alternative Finance Business Barometer, presented at the Barcelona Stock Exchange by the Institute of Financial Studies (IEF) and ALTRIA.
The study, conducted between November 2025 and January 2026 and based on 185 surveys of companies, financial institutions, and alternative finance providers, confirms a trend already observed in previous editions: access to bank financing remains a significant challenge for a substantial part of the business community.
More Difficulties and Fewer Expectations of Improvement
Among the companies surveyed, 48% consider that access to credit has been difficult or very difficult, compared to 37% the previous year. Only 20% describe it as easy or very easy.
Looking ahead to the next twelve months, pessimism remains stable (39% nationwide and 37% in Catalonia), while the percentage of companies expecting an improvement in access to credit has declined.
During the presentation, Eloi Noya, Director of Innovation at IEF and Director of the Master’s in Fintech, AI and Decentralized Finance at Barcelona Finance School, warned that bank risk criteria could tighten further this year, potentially worsening the situation.
Alternative Finance: High Awareness, Limited Diversification
Awareness of alternative finance has remained stable at around 80% since 2021. However, actual usage barely exceeds 50%.
Currently, 54% of companies (52% in Catalonia) have used alternative financing, mainly through traditional instruments such as factoring, renting, or non-bank leasing, which account for 30% of the total.
In contrast, more innovative and long-term-oriented tools—such as debt funds or crowdlending—continue to see limited adoption. This suggests that despite strong awareness levels, there is still room for greater diversification and sophistication in corporate financing strategies.
2026: Growing Demand for Financing
One of the most relevant findings of the Barometer is the increase in companies’ intention to seek new financing. 67% of companies plan to look for funding in the next twelve months, ten percentage points higher than the previous year.
Additionally, 48% state that they will probably or certainly turn to alternative sources in 2026 (39% in Catalonia). Companies anticipate a more demanding environment and are preparing to diversify their funding sources.
Banks: Potential Rate Cuts, but Stricter Risk Policies
On the supply side, 62% of banks consider the current environment to be favorable, and 56% expect to reduce interest rates in 2026.
However, this optimism is accompanied by increased caution: 44% of banks anticipate tightening their risk criteria. This combination—potentially lower rates but stricter lending policies—creates a complex landscape for many businesses.
A Key Snapshot of the Current Financial Landscape
The sixth edition of the Barometer, which for the first time includes a specific analysis of the Catalan business ecosystem, consolidates the study as a reference tool for understanding the evolution of corporate financing.
In a context where access to credit is becoming more challenging and alternative finance is gaining strategic importance, understanding the functioning of new financial infrastructures in depth is essential. Programs such as the Master’s in Fintech, AI and Decentralized Finance and the Executive Program in Financial Decentralization and Fintech Entrepreneurship at Barcelona Finance School provide a practical and up-to-date perspective on the technologies, business models, and new funding sources that are reshaping the financial system. Pursuing education in these areas is not just an academic choice, but a strategic decision to anticipate trends and lead the financial transformation of the coming years.
