Eight out of ten industrial companies that had difficulties in obtaining loans point to high interest rates as the main obstacle in accessing short or medium-term credit.
The data comes from “Special Survey nº 98 – Conditions for Access to Credit in 2025”, carried out by CNI (National Confederation of Industry) with ABDE (Brazilian Development Association).
See the survey results regarding short and medium-term credit:
- 80% blame interest;
- 32% attribute it to real guarantees, such as movable and immovable assets;
- 17% cite the lack of credit lines suited to the companies’ needs.
According to the research, the order of the main problems is repeated when it comes to the search for long-term credit (over five years). Look:
- 71% mention interest;
- 31% cite real guarantees;
- 17% attributed the lack of adequate credit lines to the companies’ needs.
Credit denied
Only 26% of industrialists contracted or renewed short-term credit in the period analyzed. The percentage drops to 17% in relation to long-term credit.
Among companies that sought long-term credit, about a third were unsuccessful, while among those that sought short- or medium-term loans, a fifth were unsuccessful.
The percentage of frustration was higher among medium-sized industries, both in short and medium and long-term operations. Look:
- 43% of medium-sized industries requested credit, but were denied;
- 37% of small businesses applied for credit, but had their application refused;
- 27% of large industries requested a loan, but the request was rejected.
- short term and medium term:
- 26% of medium-sized industries requested credit, but were denied;
- 21% of small businesses applied for credit, but had their application refused;
- 16% of large industries requested a loan, but the request was rejected.
Worse conditions
The survey also showed that 35% of industrial companies that renewed short or medium-term credit stated that access conditions, such as interest rates, number of installments, grace period and guarantee requirements, became worse or much worse between February and July 2025.
In long-term credit renewal operations, 33% of industries had the same assessment.
Since June 2025. It is the highest level since 2006.
“The current monetary policy is quite restrictive and makes credit more expensive, since the Selic rate is at 15% per year and real interest rates are around 10%. More expensive credit discourages investment in expanding production capacity and innovation. As a result, the industry loses competitiveness”, assesses Maria Virgínia Colusso, Policy and Industry analyst at CNI.
Only 14% of companies managed to renew their short or medium-term loans with better conditions in the period analyzed. The percentage drops to 12% in the case of long-term credit.
The Special Survey included the participation of 1,789 industrial companies, 713 of which were small, 637 medium and 439 large. The questionnaire was applied between August 1st and 12th, 2025.
