The Hong Kong Monetary Authority published the Survey on Small and Medium-Sized Enterprises’ Credit Conditions for the first quarter of 2025, reporting that SMEs’ credit conditions remained steady. Excluding respondents who answered “no idea / don’t know”, 75% perceived banks’ credit approval stance as “similar” or “easier” than six months earlier, up from 70% in the previous quarter, while 25% perceived it as “more difficult” (30% previously). Among SMEs with existing credit lines, 5% reported a “tighter” stance on those facilities, compared with 0% in the prior quarter, noting this could reflect measures such as reducing credit lines, raising interest rates, imposing additional collateral requirements, or shortening loan tenor. Only 3% of respondents applied for new bank credit during the quarter and, among those who already knew the outcome, 79% reported fully or partially successful applications (77% previously). The HKMA cautioned that findings may be prone to fluctuations due to small sample sizes, with 14% of surveyed SMEs reporting existing credit lines and 3% reporting new credit applications.

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